Archive for July, 2010

Reaching Homeowners in Financial Distress-Web Workshop back by popular demand

Homeowners across the country are facing the darkest financial days of their lives at this very moment and are unsure of where to turn for real options and real answers to some excruciatingly difficult questions.

Realtors are key to providing them with options and a way to begin the process of getting out of the situation. First, however, we’ve got to be able to get their attention, amongst all of the other internal and external noise going on around them.

Join us on Friday, August 13th at 1:00pm pacific for a web workshop on this topic.  To Register, please direct your browser to:
https://www2.gotomeeting.com/register/485864987

In this session, Trent Whatcott, Partner and Chief Marketing Office of Complete Short Sale Processors will discuss the mindset of the homeowner in financial distress, based on ethnographic research conducted by Complete Short Sale Processors. He will discuss how the findings can be immediately employed by realtors to effectively market to individuals facing financial challenges, in order to help the homeowner remove themselves from their current situation and move to more firm financial footing.

About Trent Whatcott
Trent holds a Marketing degree from the University of North Texas, with an emphasis on Marketing Research and Consumer Behavior. Ethnographic research, the observation of how individuals behave in certain circumstances, is his favorite area of focus.

Trent has worked with numerous Brokers and Realtors, various organizations within publishing, such as Harcourt, McGraw-Hill, The Thomson Corporation and Cengage Learning, as well as Southwest Airlines in the past, where he applied his marketing research skills to enable these individuals and organizations to more effectively reach various market segments.

When Trent is not marketing, he enjoys spending time with his family, partially completing home improvement projects, being a really slow cyclist, a golf chop, a tennis hack and discovering the beauty of the Mojave desert!

Trent and his wife have four children and live in Las Vegas, NV.

Friday, July 30th, 2010 Latest News No Comments

Reaching Homeowners in Financial Distress-DON’T MISS THIS ONLINE WORKSHOP

Reaching Homeowners in Financial Distress

Many homeowners across the country are facing the darkest financial days of their lives at this very moment and are unsure of where to turn for real options and real answers to some excruciatingly difficult questions.Realtors are key to providing them with options and a way to begin the process of getting out of the situation. First, however, we’ve got to be able to get their attention, amongst all of the other internal and external noise going on around them. We will discuss strategies and tactics that can implemented immediately in order to differentiate yourself from the competition.

Join us on Friday, July 30th at 10:00am pacific for a web workshop on this topic.

In this session, Trent Whatcott, Partner and Chief Marketing Office of Complete Short Sale Processors will discuss the mindset of the homeowner in financial distress, based on ethnographic research conducted by Complete Short Sale Processors. He will discuss how the findings can be immediately employed by realtors to effectively market to individuals facing financial challenges, in order to help the homeowner remove themselves from their current situation and move to more firm financial footing.

CLICK HERE TO REGISTER and join us for this informational workshop! SEATING IS LIMITED!

About Trent Whatcott
Trent holds a Marketing degree from the University of North Texas, with an emphasis on Marketing Research and Consumer Behavior. Ethnographic research, the observation of how individuals behave in certain circumstances, is his favorite area of focus.

Trent has worked with numerous Brokers and Realtors, various organizations within publishing, such as Harcourt, McGraw-Hill, The Thomson Corporation and Cengage Learning, as well as Southwest Airlines in the past, where he applied his marketing research skills to enable these individuals and organizations to more effectively reach various market segments.

When Trent is not marketing, he enjoys spending time with his family, partially completing home improvement projects, being a really slow cyclist, a golf chop and a tennis hack and discovering the beauty of the Mojave desert!  Trent and his wife have four children and live in Las Vegas, NV.

Thursday, July 29th, 2010 Latest News No Comments

Dang we humans are a resilient bunch!

In a previous life I was a cyclist. I had a resting heart rate in the 50s, about 6 percent body fat and was skinny as a rail…man that was a long time ago! This little thing called responsibility entered through the front door and time and energy went out the back!

I still love the sport and follow it as closely as time will allow…especially in July. Thank goodness I have won my wife over and she loves it as much as I do!

Yesterday on the Tour de France, the riders climbed the Col de Tourmalet. For those of you not following “the Tour”, Col de Tourmalet is the highest road in the central Pyrenees mountains….translation…most people would sell their firstborn before attempting to climb it. As I was watching and looking in the eyes of the two leaders; Alberto Contador from Spain and Andy Schleck from Luxembourg, one word came to mind, “resilience.”

I then thought of the “Cols de Tourmalet” I have faced and overcome in my life and I thought of how resilient I must be. I have climbed some pretty steep mountains in my life and I have overcome, or am in the process of overcoming them all. I then thought of my 11-year-old son who is autistic, epileptic and has slight mental retardation (no, that word does not offend me…). I thought of the challenges he’s faced and overcome…or is in the process of overcoming. I thought of my other kids who face the challenge of being a sibling to such a child and the challenges they have overcome. I thought of my awesome wife, who has struggled more than any woman has a right to as a result of our son’s limitations and, though the climb has been the toughest for her, she gets up every morning and climbs this “Col” with Andy Schleck’s style and Alberto Contador’s grace.

My mind then moved to all of the people I have had the pleasure of becoming acquainted with in Real Estate. Some of these people are at what seems like the end of the line. Many of them are late on all of their lines of credit, have no savings and are in the process of losing their home. I met with one just today who, not too many moons ago, woke up one morning to find that all of his vehicles had been repossessed overnight and he would have nothing left when the bank showed up to take possession of his home.

What I have learned from these experiences is that nothing, with the exception of death, is ever permanent. We humans always bounce back if we keep climbing. It may take months or years, but we ALWAYS bounce back. For Realtors, the beautiful thing is that you get to help people out of the darkest times of their life and put them on the road that leads to economic recovery. What an honor!

Trent from CSSP

Friday, July 23rd, 2010 Latest News No Comments

$128,000 to modify a loan? Huh?!

That’s right…$128 large.  Here’s some math.  The program from TARP that was to help homeowners modify their loan, has to date helped 390,000 homeowners.  On its own merit, that sounds excellent!  What a talking point!  Here’s another number $50,000,000,000 (fifty billion dollars, if I were to spell it out on a check) is the budget for this little corner of the TARP blanket.  Take $50 billion and divide it by 390,000 and you arrive at $128,000.

So, some folks got a little cranky about it this week and the news is forever recorded in yesterday’s Business Day section of the New York Times.  http://www.nytimes.com/2010/07/22/business/22tarp.html?scp=1&sq=program%20to%20help%20prevent%20foreclosures%20falls%20short&st=cse

Neil Barofsky, the special inspector general for TARP was most critical, calling the program “one of the greatest failures” by the Treasury Department, because it lacked clear goals.  (Seriously, that many pages and we couldn’t get our goals clear?!)  Elizabeth Warren, Chairwoman of the Congressional Oversight Panel and Richard Hillman, managing director of financial markets and community investment at the Government Accountability Office (!) echoed the criticism as well.

What it all boils down to is this:  People are living in homes they cannot afford to live in.  It really doesn’t matter at this point whose fault it is.  We can figure that out later.  In the aggregate our country is $4 trillion dollars upside down in our homes and something has to be done.  The government has come up with north of 15 programs, which have helped only a handful of homeowners.  The government cannot force these programs upon banks and investors (and they won’t even participate in their own programs (!)

The only “Hope for Homeowners”, in most cases, is to look the situation square in the face and determine what is going to help them have a better life five years down the road and bring the most permanent feeling of peace of any of the options before them.  In almost every case, a Realtor is the only person who can provide that peace.  A Realtor is the only person with the tools to sell the home quickly, help the homeowner find a nice rental for the next couple of years and work with a company like Complete Short Sale Processors www.completeshortsaleprocessors.com (shameless plug) to process a short sale transaction.  Of course, we always recommend that a homeowner contact a Real Estate Attorney to go over their options and help provide legal counsel.  (we provide one at no charge in most states-another shameless plug…)

Our services do not cost any out of pocket expense to the buyer, seller or either realtor…ever.  If you are a Realtor and finding cleints and providing them with relief is of interest to you, send me a message, so I can learn more of your current situation.

Trent from CSSP

marketing@completeshortsaleprocessors.com

Thursday, July 22nd, 2010 Latest News 1 Comment

US Housing Market is $4 Trillion upside down!

I’m 38. (A very young looking 38, I might add.)  I don’t really know if that is old or young.  It used to be old, like when my Dad was 38, but now that I’ve arrived at this juncture, it doesn’t feel too far down the highway from 28…or 18 for that matter.

I do know that I am old enough to remember a time when the word “Trillion” (in dollars) didn’t really mean anything.  Saying a trillion was like saying a bajillion or a gazillion…it was just a word.  Fast forward to now…  According to Bloomberg, the US Housing Market is $4 Trillion dollars upside down….that’s $4,000,000,000,000…12 zeros! with a big fat four in front of them.  13 digits!  That’s four million million.

Besides admitting my age, here’s another detail about me…I hate numbers…every last one (or 4 trillion) of them!  So, I am at the point where I either need to reach for some Advil or just provide a link to Bloomberg and leave the financials up to the experts.  The following article goes into way more detail than I could ever hope (or want) to  http://www.bloomberg.com/news/2010-07-16/housing-bubble-leaves-4-trillion-hangover-chart-of-the-day.htm

Our buddies at ThinkBigWorkSmall, Frank and Brian, discussed this article today on their “Daily” as well.  Check it out at the link below.  If you are not a subscriber to their Daily, we highly recommend these guys.  They provide good information with a heavy dose of some much needed comic relief.  You can sign up for their Daily on their site, or just send me a message (marketing@completeshortsaleprocessors.com) and I’ll sign you up for our syndicated version.  Here’s the link to today’s:

http://www.thinkbigworksmall.com/mypage/archive/4863/51741

Yours in Success,

Trent from CSSP

Tuesday, July 20th, 2010 Latest News No Comments

Complete Short Sale Processors highlighted on ThinkBigWorkSmall

Frank and Brian from ThinkBigWorkSmall deliver a great update every morning, filled with industry news and information with a dash (OK, sometimes a BIG dash) of humor and sarcasm.  Infotainment at it’s…well…it’s pretty good…

They are a great couple of guys and we HIGHLY recommend signing up for their “Daily” at their site: www.thinkbigworksmall.com.

Today on the show, they highlighted our organization.  Check out today’s “Daily” by directing your browser to http://www.thinkbigworksmall.com/mypage/archive/4863/51671 for more information.

If you are unfamiliar with our business, we have products four products to offer clients: Freedom, increased productivity, peace of mind and increased revenue.  Our current clients tell us they like that they can now go back to doing what they loved about real estate to begin with; listing, selling and closing homes.

We would love to discuss your current situation and then determine between the two of us how best to proceed.  Our contact information can all be found here: http://completeshortsaleprocessors.com/contact-us .

If you are not sure yet, check out our website.  I recommend the following pages:

Average close time (most common lenders) http://completeshortsaleprocessors.com/our-process/average-close-time-by-bank

Frequently Asked Questions: http://completeshortsaleprocessors.com/faq

Should you have any questions and want to conact me directly, please call me at 702.499.8846

Yours in Success,

Trent from CSSP

Thursday, July 15th, 2010 Latest News No Comments

Mortgage rates drop to record lows. Significant for buyers. Significant for distressed sellers.

Freddie Mac reported this morning that The 30-year mortgage rate dropped again, down to 4.57%.  This is significant for your potential buyers, because it means they will pay less to finance a home than they have in quite some time.  This will be especially positive for  your buyers who had a contract in place by April 30th but who have not yet closed.  The tax credit has been extended and they will now be able to lock at a lower rate.  (For reference: http://www.nytimes.com/2010/07/01/us/01brfs-HOMEBUYERSTA_BRF.html)

For distressed sellers it means that buyers who are are able, will still be looking to buy.  This means that there is still hope that they will be able to get out of the distressed situation and begin to pick up the pieces.

For more information, please direct your browser to: http://www.foxbusiness.com/story/markets/industries/real-estate/freddie–year-fixed-rate-mortgage-record-low/

Should you have any questions, please do not hesitate to contact me.

Yours in Success,

Trent from CSSP

trent.whatcott@cwyholdings.com.

Thursday, July 8th, 2010 Latest News No Comments

Could now be the best time to buy a home? Coldwell Banker CEO says YES!

According to Jim Gillespie, CEO of Coldwell Banker, it is.  In a recent article written by Peter Gorenstein of Yahoo! Finance’s TechTicker, Gillespie points out the following reasons why now is the “absolute best” time to buy a home:

1. Low Rates-A fixed 30-year is as low as 4.75%.  So the whole mortgage-backed securities scare, knock on wood, has been about as scary as Y2K.  (I’m fully aware that there is still time for me to eat my words on this one…)

2. High Inventories-If you are willing to wait, the home of your dreams is likely out there.  Short sale transactions can take some time.  (For our average close time by bank, click here: http://completeshortsaleprocessors.com/our-process/average-close-time-by-bank )

3. Low prices-Oh…and…that home of your dreams is likely siginificantly less expensive when it became the home of your dreams.  Gillsepie feels that prices are bottoming out.

He and I may have to agree to disagree on the thinking that the downward trend has slowed (though, being a recent buyer myself, I’ll gladly be the one who is wrong!)   Either way, the conditions have not been this good in about eight years to buy a home.  I know of several short sale homes on the market, originally built between 2003 and 2007, where the original interest only loan payoff is twice what the new buyer is paying!

Is it the best time, who really knows?  Is a an excellent, without a doubt.

–Trent from CSSP

To read the full article, please click here:

http://finance.yahoo.com/tech-ticker/now’s-the-%22absolute-best-time%22-to-buy-a-home-coldwell-banker-ceo-507986.html;_ylt=AqcQ925K3oJ2y9zQ974Q4s1k7ot4;_ylu=X3oDMTE3YmhpdGNhBHBvcwMxOARzZWMDYXJ0aWNsZUxpc3QEc2xrA25vd3N0aGVhYnNvbA–?tickers=XHB,,tol,len,phm,dhi,low,hd

Tuesday, July 6th, 2010 Latest News No Comments