Brown Meets at White House as Mortgage Reform Gains Steam

Brown Meets at White House as Mortgage Reform Gains Steam

Brown with NAHREP President Jason Madiedo

NAR President Steve Brown met at the White House with the federal government’s top housing officer, HUD Secretary Shaun Donovan, and the head of the National Economic Council, Jeffrey Zients, on the reform of the secondary mortgage market yesterday. The effort to replace Fannie Mae and Freddie Mac is gaining steam with the release last week of a plan by the bi-partisan leadership of the Senate Banking Committee.

Sens. Tim Johnson, D-S.D., the committee chair, and Mike Crapo, R-Idaho, the ranking member, released a plan to phase out Fannie Mae and Freddie Mac over time and replace them with a new entity called the National Mortgage Insurance Corporation that would provide explicit federal backing of loans that meet standards of safety and soundness.

NAR is looking carefully at the plan, which incorporated many principles that the association is calling for. Top among them is the explicit federal backing, but the plan also ensures the continuation of the 30-year, fixed-rate mortgage and also paves the way for the return of a robust private market for mortgage-backed securities over time.

Although details are still to be worked out, NAR wants to be sure any mortgage market reform maintains the availability of safe and affordable loans.

Sen. Tim Johnson, D-S.D.

Sen. Mike Crapo, R-Idaho

After the White House meeting, which also included leaders of the National Association of Hispanic Real Estate Professionals, National Association of Home Builders, Mortgage Bankers Association, and Independent Community Bankers of America, Brown gave an interview with Housing Wire in which he stated that the housing sector will benefit from mortgage market reform if the reform is done carefully, because the market needs the stability that good reform will provide. “By settling this issue, it will bring stability to this market, which is critical,” Brown said in the interview. “The Great Recession shows that there are imperfections [to the current structure].”

One aspect to reform that REALTORS® can take pride in is the bipartisan nature of housing issues on Capitol Hill. Just as both sides of Congress came together earlier this month to pass curbs on escalating flood insurance premiums, members of both parties want reform to succeed so housing can thrive. “It affects every American,” he said. “Whether you are a Republican or a Democrat, people’s financial investments will be protected and maintained.”

With the Senate plan now out, lawmakers in that chamber could start consideration of legislation fairly soon, analysts say.

Summary of Senate reform plan.

More on NAR’s mortgage market reform principles.

Video: Why a federal guarantee is so important.

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Wise Tips to Invest in Bellevue Real Estate Properties

Every person around the world would want to increase his financial status. There are many ways to do it and one of the best ways that most people can think of is to invest in a real estate property. There are so many properties put up for sale especially in the Bellevue area. This articles talks about the wise ways to invest belleue real estate for sale. You can use the following tips to help you fix your dilemmas about investing a real estate item, if you have one.

Learn some great strategies about investing in a real estate. You should be knowledgeable enough about how things run in the real estate industry. It is actually wise if you know about the latest trends of prices of properties in a specific region. In this way, you will be able to learn to place a good budget for an investment you are going to take. The same way, you will be able to estimate a property’s resale value so you would know how you can make a good deal on your investment.

Make sure that the property you are buying is profitable. If you think that a certain property is going to double or triple its value in the coming years, then that should be an important and profitable investment for you. However, if you can see that it’s not going to get any cash flow, you might have to turn it down. It is a general rule that you invest to get profit and not otherwise.

Get help from a professional. If you don’t have any idea about how things really go, you should get help from an expert in the field. There are many real estate agents, who can help you find the perfect real estate property in Bellevue. They will know everything from the slightest detail to the most significant ones about every property.

 In this way, it would be easy for you to find a property and you only need to put your investment in and let it grow. It saves you much effort with finding and doing research about everything. You could actually get help from an entire real estate company as well. They provide services that are tailored to your needs. Most of these companies are experts in the industry and are more than willing to give you a hand.

It is a wise move to constantly look into the condition of every property that you own. If you only allow your properties to stay untouched and stagnant, you could be missing some great opportunities that could have brought you fortune. Therefore, it is still important that you check out on your own properties, both the old and the new.

To invest bellevue real estate for sale, you should be prepared enough as to how your investment could turn into. Surely, there is good profitability in the industry but you never really know what happens in the future. However, if you learn to manage your properties and assets properly, you’ll be able to enjoy the positive fruits of your decisions.

San Francisco Raises Loan Limits for First-Time Buyers

San Francisco Raises Loan Limits for First-Time Buyers

The city is doubling the amount it will lend to first-time home buyers toward a down payment on their first house or condo — from $100,000...

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Success in Real Estate and the ‘Latte Factor’

Success in Real Estate and the ‘Latte Factor’

If you buy yourself a latte every morning on the way to the office or when you head off to show a client a house, prepare to say goodbye to a good $1,000 a year in your hard-earned commission income. That’s about how much buying a latte every workday will run you. Would that money have been better spent marketing your business or getting a professional certification to help set yourself apart from the competition?

That’s the kind of question you want to ask yourself when you sit down to prepare your budget each year, says Victoria Gillespie, director of business development at REALTORS® Federal Credit Union, a division of Northwest Federal Credit Union.

As independent business people, real estate practitioners can benefit from planning their expenses at the beginning of each year just as a business does, Gillespie says in the fourth video in REALTOR® Magazine’s financial planning series, Your Money Matters. That means examining even small expenses like dry cleaning and getting your car washed, both of which are necessary expenses for maintaining a professional appearance but which can be managed through attentive planning. For example, buying clothes that don’t have to be dry cleaned and buying a light-colored car that doesn’t show dirt as much as a darker car can save hundreds of dollars a year in expenses.

One way to get a handle on your expenses is to identify the minimum expenses you need to do your job: office costs and marketing expenses are two examples. Once you have a projected dollar amount for the year, calculate how many transactions you have to close to reach that number. You can do that by identifying your total income from the previous two or three years, dividing that number by the number of transactions you had, and deriving an average commission amount for each transaction. Then divide your minimum expense number by your average commission income to get the minimum number of transactions you need to meet your expenses. Once you know that number, you’re in a good position to look at what you’re spending your money on to see if your dollars spent are getting you contacts with customers who eventually will close a deal with you.

Will the latte help you get there? If not, that might be one expense to curb. Get more on these ideas in the six-minute video above. You’ll find the previous Your Money Matters videos below.

Watch the fourth video now.

Go to the third video on credit unions.

Go to the second video on reserve accounts.

Go to the first video on taxes.

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Americans' Divergent Views on Housing, Mortgages

Americans' Divergent Views on Housing, Mortgages

More Americans expect home prices to rise in the next year, but they’re growing more concerned about the possibility of getting a mortgage,...

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Easy Tips to Find Homes for Sale in Issaquah

If you are a first time home buyer, you definitely need some good tips to help you how to decide which house you are going to buy. Especially if you want to find homes for sale in Issaquah, you should consider some things for the buying experience to be worth it all. Here are some ways to help you find your next home in the area. 

1. Layout a list of items that you want to have in a home. It is important that you set some parameters that specify everything that you want in a home. It will be easier for you to find a dwelling place, if you know what you really want. The size of the house, the number of rooms and baths it has, a parking space and some other amenities. Some families would want to find a property that has special items like pools and a large yard. You can include things like these on your list.

2. Set a specific amount you are willing to spend for a new home. If you are buying a home, make sure to set a specific amount you can spend to get the property. You can choose to buy it in cash or at mortgage, depending on your financial capabilities. If the amount of the house is such a crucial aspect to you, you may need to set a budget. However, if you don’t mind about the price at all, it would be easier to choose a home.

3. Decide on a specific area where you want to live. If you need to live in a specific area, where it is near your workplace or the school where your kids go to, you can also put it on the list. It is easier to find a home if you know all the specifics of your preferences. Decide if you want to live near a busy road or somewhere that is not that busy and is quiet.

4. Get a professional to help you find a home. You should get a professional to help you choose your home. Most realty specialists in Issaquah are knowledgeable about the place and would be able to help you with everything that you need.

5. Look into several homes in the area. Don’t just buy the very first home you see in the place. Look into different houses and compare each of them. You may ask your real estate specialist to help you identify the similarities and differences of each house you have checked. You may want to know about the history of the house as well and the neighborhood. 

You are now ready to buy a home around the Issaquah area. You can use those techniques if you want a home from other places as well. The tips mentioned above are also good for people who are not buying a home for the first time. If you are from one place and want to find homes for sale in Issaquah, you will able to make use of the easy ways provided in this article. 

Olympians Win the Gold in Their REALTOR® Families’ Hearts

Olympians Win the Gold in Their REALTOR® Families’ Hearts

While a few U.S. Olympians in Sochi, Russia, are celebrating bringing home the gold, their real estate families back at home are making room on the mantle for their prestigious awards.

That seems to be a familiar storyline in Park City, Utah, where a number of members of the Park City Board of REALTORS® are watching as their sons, daughters, and brothers compete in the Winter Olympics. They’ve got a lot to be proud of: Two Olympians with real estate families in Park City have taken the top honor for their events, while a third isn’t coming home with a medal — but she landed in the history books.

Linsey Van and her father, Barry. (Credit: Courtesy of Barry Van)

Barry Van, GRI, AFR, BPOR

Keller Williams Park City Real Estate

Daughter: Lindsey Van

Lindsey’s Olympic results: Ranked 15th, Ski Jumping Women’s Normal Hill

Lindsey Van might not have had the greatest showing at her event on Feb. 11, but she can still claim victory. This was the first year ever that ski jumping — traditionally a male sport — was open to female competitors at the Olympics. And Lindsey was one of the trailblazers who helped to break the barrier.

A few years ago, she was one of several plaintiffs in a lawsuit brought against the organizers of the 2010 Winter Olympics in Vancouver. At the time, only men were allowed to compete in ski jumping events at the Olympics, and the plaintiffs argued that the policy was a violation of their rights. The lawsuit wasn’t successful, but the Olympics Committee announced in 2011 that a female ski jumping event on the normal hill would be hosted at the 2014 Winter Olympics.

“I’m glad that it’s an event, but they still need to add the large hill and team event,” Lindsey’s father, Barry Van, says of the International Olympic Committee’s role in opening up ski jumping events to women at the Games. “Work’s not over.”

Still, he’s celebrating the accomplishment Lindsey made this year. He says he’s even used her status as an Olympian in some of his real estate marketing materials. Heck, maybe she could even use it to her own advantage in real estate. After all, she might have some skin in that game.

Lindsey is a licensed referral agent, having gotten her license in 2004, Barry says. “I sent my brother and daughter to real estate school so they could get their license, because this is important stuff you need to know,” he adds.

But does that mean she’s eyeing a future in real estate?

“Probably not, but who knows?” Barry says. “She keeps her license current.”

Sage Kotsenburg, right, and his brother, Blaze. (Credit: Courtesy of Blaze Kotsenburg)

Steve and Blaze Kotsenburg

Summit Sotheby’s International Realty

Son, brother: Sage Kotsenburg

Sage’s Olympic results: Gold medalist, Men’s Snowboarding Slope-Style

Sage Kotsenburg took home the first gold medal of this year’s Winter Olympics, and his family couldn’t be more proud. His father, Steve, and brother, Blaze, both agents with Summit Sotheby’s International Realty in Park City, have been celebrating Sage’s win with their REALTOR® friends and family.

“It’s still crazy with all that has been going on since Sage won the gold medal — but a good crazy,” Steve says. “I think we’re still speechless and taking it all in.

“The REALTOR® community has been very supportive from here in Park City and all over the country,” he continues. “We have gotten emails from other REALTORS® from around the U.S. and celebrating with us. It’s amazing and means so much to us to hear from them, and also that they share this with us as a fellow REALTOR®.”

Sage’s brother, Blaze, says he was just excited to see Sage go to Sochi and represent the talents of his snowboarding community back home. “Park City is built around the skiing and snowboarding lifestyle, so it means a lot to the whole town that Sage brought the gold home for snowboarding,” he says.

Though both Steve and Blaze say they don’t know Sage to have any aspirations to enter the real estate world, they’re grateful for the positive impact his celebrity is having on their businesses.

“I think we have seen a little more action in leads after Sage won, and that probably has to do with the name recognition,” Blaze says. Steve agrees that Sage’s name has given his and Blaze’s real estate businesses some attention, but added that they had no plans to include Sage in their marketing plans.

“Sage is all about having fun and enjoying what he does,” Steve says. “Blaze and I are the same with our business: We enjoy and have fun with the many people we have met, and we focus on being honest and trustworthy and doing a good job for all our clients.”

Ted Ligety at the 2014 Winter Olympics in Sochi, Russia. (Credit: Mark H. Prothro)

Bill Ligety, GRI, CRS

Summit Sotheby’s International Realty

Son: Ted Ligety

Ted’s Olympics results: Gold medalist, Alpine Skiing Men’s Giant Slalom

Bill Ligety, an agent with Summit Sotheby’s International Realty, was a little nervous for his son, Ted, as he set off for Sochi. Ted was a surprise winner of the Men’s Alpine Skiing Super Combined competition during the 2006 Winter Olympics in Turin, Italy.

“This year, there was a huge expectation that Ted would win at least one medal — and maybe three,” Bill says. “Ski racing is very unforgiving, and favorites often do not win.”

So when Ted pulled off winning the gold medal for the giant slalom competition in Sochi, Bill and his real estate family erupted in celebration.

“I am lucky to have many friends and supporters who have known Ted since he was born. My real estate associates got together the night Ted won for a party to watch the event on TV. The son of another associate in my office, Sage Kotsenburg, also won a gold medal in Sochi, so the town has plenty to celebrate.

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