REAL Talk with ROBERT ALDANA

Business Week Makes Their Real Estate Predictions

A somewhat interesting story and BOLD predictions by Business Week Magazine. Some good points, but overall I have to differ with this article. I believe, and the real life stats are telling us that we may be close to the bottom in many markets and already AT the bottom in others. I am not kidding and I am not being a real estate agent saying, "duh, it's a great time to buy a house".

Oh, My.... How about this one?

OK, here is one for the ages. Client has a four-plex with a loan of $599,181 and a monthly payment of $5,186. They are receiving $4,788 per month in rents so they have a negative of $398 which isn't bad, except with these tough times every dollar is tight.

We just negotiated a principle reduction of $119,422 and a new payment of $2,050. So with the monthly rent they receive of $4,788 per month, they are now making $2,738 by keeping their property. This is an investment property with no late payments. Almost to good to believe, huh? Well, believe it!

When members of the police department visit us to help them with their modifications and members of the real estate industry do the same and send us their clients, that HAS to say something.

I love my job! Not always, because sometimes it can be tough, but at the end of the day I LOVE my job!

WCR - Still one of the best organizations in real estate

I just finished speaking at the WCR Meeting at SCCAOR and I have to tell you, WCR still is one of the best real estate organizations out there. It was great to speak to such a wonderful group. Glad to see real estate is alive and well! This market is turning, just take a look at the inventory of Pending Sales versus Active listings. Many areas are 50-80% Pending. Watch the market, things are changing and happening right before our eyes.... Exciting....

Another beautiful loan mod!

Gosh, I just love it when this happens. Client has been unable to make payments for 10 months and finally received a modification with almost $2,000 of monthly savings, 20% principle reduction and property taxes that were late paid by lender without adding it to their loan amount. YEAH!

New foreclosure rules to start Monday

Here is an article worth reading that addresses the efforts being made by Government to curb the foreclosure mess we are in, click here to read it.

It all sounds good, but will this one work? I applaud the Government for wanting to do something, because I know that they want this to end, but doesn't it seem like every month a new Government program is coming out to help with this crisis that starts with a lot of excitement and anticipation only to lead to another failure with banks really not participating?

Time to play hardball. Plain and simple, lenders have to be more accountable. They need to stop giving everyone lip service and start really being part of the solution. Right now they continue to be part of the problem and this has to stop.

Come Join Me for Lunch & Let's Talk About Short Sales & Mods

This coming week, on Wednesday, June 17th, 11am-1pm I will be speaking for one of my favorite organizations, The Women's Council of REALTORS in San Jose at the Santa Clara County Association of REALTORS' Training Room on the topics of Short Sales and Loan Modifications. Should be a good one! If you are interested in attending, please contact the following individuals:

I LOVE Wachovia!

If anyone out there knows anything about handling short sales and loan modifications, it is Wachovia. They could/should teach a class on how to handle them efficiently, smoothly and professionally. You get the feeling that you are working with a real person making logical decisions and not some kid who takes pleasure in playing video games that focus on hurting other people. If you have done a short sale or loan modification, you would understand what I mean!

Hats off to you Wachovia for raising the bar. Here is to hoping the rest of the industry follows you closely!

Pic of the day....

Baby Madi looking happy & posing for the camera....

2 MORE Awesome Mods, great way to start the week!

JUST IN TODAY, 2 MORE - Just got a mod approval with $1,500 monthly savings and almost $100,000 principle reduction AND another one with about a $2,500 monthly savings! To date we have saved families approximately $1,500,000 in payment savings alone. Find me another company that does HALF as many loan modification approvals than HRCS in Northern California....

Gotta love it!