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EVITE: Leadership Town Hall, January 24th, Posted by Elizabeth

Do you remember being in elementary school when the teacher would ask a question?  Two things would happen.  Either your hand would shoot up like a firecracker because you were so excited to give your answer.  Or you would sit there fidgeting because you wanted to answer but were too shy to speak up.

Let’s face it, now that we’re all grown up, the same things still happen.  Many of us have incredible ideas about how to help the real estate industry, and we’re either waiting for the right opportunity to give our answer or we’re too shy to share it.

The NAR Leadership Team has a solution.  We’re knocking on your door, and we want you to answer.  On January 24th at 3 pm EST, we’re hosting an online, live Town Hall meeting.  I’ll be there, and I want you to be there, too.

2011 is a crucial year for our industry.  So much is on our plate, and we’re ready to tackle it all!  We’re fighting to protect the MID.  We’re urging Congress to restructure the GSE’s into a model that will ensure the flow of capital and protect investors.  We’re working to decrease foreclosures and to stop credit from playing “hard-to-get.”

The Town Hall provides just the opportunity for the NAR Leadership Team to lay out our goals for the year and for us to hear from you.  That’s right:  YOU!  We need you and value your opinion.

So please, register for the Town Hall.  On the registration site is a place for you to submit a question you have for the NAR Leadership Team.  This is the time where all hands need to shoot up.  You are the heart of NAR, and we hope you can make this important meeting.

I look forwarding to “seeing” you on the 24thElizabeth Mendenhall – 2011 NAR Vice President and Liaison to Committees

Comments
  1. Joanne Levy

    With so many states in trouble with foreclosures….what is NAR’s position on shadow inventory or pushing the lenders to get these properties on the market. Many have said the current slow down will push recovery out 3-5 years.

  2. when the borrowers were signing their wealth away to gnmae and fnmae where and what was the realtors obligation at the point of signing? The perpetrators were only loan agents/ I do not think so. Many realtors have acteed a loan agents specially if a purchase of home was part of the reason to borrow.

  3. I’ll be on the call…

  4. Elizabeth, I have a couple questions/comments.

    1) I have knowledge of a lender who had a listing (short sale) with 5 cash offers on the table being negotiated. The foreclosure department sold the property on the court house steps during the time contracts were being negotiated by the loss mitigation department. They sold for less than the cash price offers! How can this be allowed to happen? Is there a way to prevent this?

    2) Two of my past clients are currently in financial hardship, negotiating with the loan modification programs at their respective lenders. IN BOTH cases, the clients have been ask numerous times to present documents that have already been presented numerous times! They have complied with every request. In both cases, they are advised the property is in foreclosure now. One of them has been given a date the property will be sold on the courthouse steps…Jan 31, 2011!

    I do believe all three of these lenders are in the top four…

    Help! What can we do to make these lenders talk with each other and not foreclose on home owners that are willing to work with the lender but have limited funding right now!

    Thanks.
    Luan

  5. you give the bank all required documents, you are on your third buyer as the bank rejected your last 2 offers, as they do not take any closing costs, and again reject your offer. Your home is orginal, no updates, needs new carpet, may need a new roof, needs new a/c, needs new garage electric opener, needs new cabinets,missing washer/dryer and the bank still sits with their last bpo and does not listen, also gives practically zero to seller, says they make too much money.

    Meanwhile, no one seems to care how hard you are working on this short sale. Who made the bank GOD?

  6. Why is the state of Florida not changing the deficiency law? why has this not been on the ballot?

  7. Why is my commission still being challenged? i sold a $425,000 home in Weston Florida this week as a short sale and the commission was changed to 5%. I worked on this file for 6 months.

  8. President Obama did not mention Real Estate in his State of the Union Address for a good reason. In 2010 there was nothing good to report. Last night on the news it finally came out that HAMP is now considered a failure and has only helped 500,000 people out of 4,000,000 who are faced with foreclosures.

    I am afraid housing will be the last to recover in a bad economy and if jobs are not created and I do not think government can create any jobs and I do not see the private sector doing it either because banks are still hesitant to lend money.

    So in conclusion 2011 will look like 2010 where Short Sales and Foreclosures will represent 30% of all business.

  9. Thank you for the Town Hall with the NAR Leadership Team. It provided insight and candid feedback on issues facing our industry today. It also gave a true picture of the efforts of NAR and the leadership’s role in reaching out to the powers that be in finding a progressive way forward in what often seems to be economic quicksand. I wish many of the real life situations represented in the posts here would make it to the national news shows and better yet, to the major morning shows. I think the general public would be appalled and how the banks and loss mitigation departments are handling offers from well qualified and legitimate purchasers. Human interest stories sell….lets get them in the press NAR.

  10. I was also very disappointed that President Obama didn’t speak to the real estate market, it’s an absolutely deeply integrated part of the U.S. economy.. Seems that it has great influence with our future and the valuation of our economic trends.

    I think 2011 will see more stability in the housing market than 2010, but yes, I agree, short sales and foreclosures are the name of the game.

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