Posts Tagged ‘Snippet’

Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud
http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate: Understanding and Avoiding Mortgage Fraud
The San Francisco Chronicle has an interesting article: Mortgage Fraud: Understanding And Avoiding It . Here’s a snippet below:

“Ethical violations and criminal activities in various industries have affected our economy over the past few decades, particularly in the banking, financial and housing sectors. In this article we examine the complex ethical and criminal issues surrounding mortgage fraud. Fraud in its simplest form is deliberate misrepresentation and deception. Fraud in action means that one deceives another by misrepresenting information, facts and figures.
What is Mortgage Fraud?
Mortgage fraud is not just predatory lending practices that target certain borrowers. According to the Federal Bureau of Investigation (FBI) mortgage fraud is “material misstatement, misrepresentation or omission relating to the property or potential mortgage relied on by an underwriter or lender to fund, purchase or insure a loan.” With this working definition we see that mortgage fraud can be committed by both individual borrowers and industry professionals.“
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2010/04/21/investopedia5882.DTL#ixzz0loEvmD3B


Baton Rouge Certified Home Appraisers: Area Home Sales See Gains In March
http://www.batonrougerealestateappraisal.com/ – Baton Rouge Certified Home Appraisers: Area Home Sales See Gains In March

The Advocate Newspaper and Chad Calder are reporting “BR-area home sales see gain in March“, click on the link to read the entire article. Below is a snippet:
“The number of homes sold in the Baton Rouge metro area rose slightly in March, though the first quarter was down 2 percent.
The March bright spot is largely due to an increase in Ascension Parish.
The figures, compiled by the Greater Baton Rouge Association of Realtors, account for about 85 percent of the market in the eight-parish area.
Realtors sold 600 homes in the metro area in March, 1 percent more than the 594 sold in the same month last year. Dollar volume in March was up 2 percent to $118.0 million.
The quarter, however, still reflects the downward trend that has characterized recent years. There were 1,406 homes sold during the first three months of the year, compared to 1,431 the year before.
Dollar volume was also down 2 percent to $270.3 million for the quarter.“

Denham Springs Certified Home Appraisers: Livingston Parish President Opposes Baton Rouge Loop
http://www.denhamspringsappraisers.com/ – Livingston Parish President Opposes Baton Rouge Loop!
WAFB News is report that Livingston Parish President, Mike Grimmer, Opposes the proposed Baton Rouge Loop. The article is located here, and here’s a snippet:
“BATON ROUGE, LA (WAFB) – Livingston Parish President Mike Grimmer joined a growing list of parish leaders opposing the proposed Baton Rouge Loop.
Grimmer told a crowd earlier this week the dynamics of the loop have changed and he will not vote in favor of it again.
Five parishes have been involved in a study of the proposed loop. Three are now against it, including Livingston, Ascension and Iberville parishes. Baton Rouge Mayor Kip Holden still supports the plan.
“Without a doubt we are going to continue to push forward,” said Holden. “I think you’ll see more legislators who are from Baton Rouge saying this is the way to go and we are going to keep fighting because this project is right.”
West Baton Rouge Parish is also still supporting the project.
More than $6 million has been spent looking into the project so far.“


Baton Rouge Real Estate Appraisers Video: CNBC Good News & Worries Over Commercial Mortgage Delinquencies
http://www.batonrougerealestateappraisal.com/ - Baton Rouge Real Estate Appraisers Video: CNBC Good News & Worries Over Commercial Mortgage Delinquencies
Also, see the Baton Rouge Business Report’s: Dire predictions for commercial mortgage lending and here’s a snippet:
“Nationally, about $3.4 trillion in commercial real estate loans is outstanding, and some experts predict a wave of defaults in the next few years that could make the mortgage meltdown look like a strong wind before a hurricane. While some call for government intervention to head off the next financial crisis, others say the magnitude is too great. The debt crisis facing Dubai, with its custom-island extravagances, could be a global foretaste.
With a largely jobless recovery from the “Great Recession,” the root of the problem seems deep. Millions of office and industrial workers have been laid off this year alone, meaning a diminished need for physical job sites and a rise in commercial vacancies. Although Baton Rouge seems relatively resilient economically, commercial lending trouble has appeared. Mall of Louisiana owner General Growth Properties filed for bankruptcy in the spring, and banks that financed Tommy Spinosa’s Perkins Rowe development foreclosed on the project in the summer.“

Five Ways Olive Garden Can Enhance Your Baton Rouge Real Estate Business
http://www.batonrougerealestateappraisal.com/ - Five Ways Olive Garden Can Enhance Your Local Baton Rouge Real Estate Business
J. Lamar Ferren has written an insightful article on how Olive Garden Restaurant can enhance your local Real Estate Business! The article is located here: Five Ways Olive Garden Can Enhance Your Real Estate Business.

Here’s a snippet:
“1. The “Right This Way” concept
In Olive Garden: When you first enter the Olive Garden, you are typically greeted by the host who calls on someone to seat you. Usually the person who seats you will say “Right This Way” as they lead off into the restaurant with you following behind them. I’ll be honest, I’m not a big fan of going into restaurants where I have to seat myself. It’s not that I can’t do it, it’s just that when the restaurant is crowded, it is usually tough to find a seat; especially if you have multiple guests. The person who seats you knows exactly where to go and can get you there quickly; it’s just easier if you follow them.
In Your Business: When a client sees your sign, your Craigslist ad, your flyer, etc., in order for them to click through to your site or pick up the phone and call you, they have to be given a “Call To Action”. Peter Kolat, a fellow BP blog contributor, actually goes into this concept a little more in depth. However, the main thing is to tell your clients exactly what you want them to do. For example, you could say, “Visit My Website Today” or “Pick up the phone and call me at 555-555-5555 right now.” Tell them exactly what you want them to do and if they’re interested, they will follow through. Don’t just assume that everyone who sees your advertisement, will know what to do next. You must guide them through the experience!
2. The “Give Them What They Want” concept
In Olive Garden: After you are seated, you are then greeted by your server, who eventually takes your order. You get the opportunity to read through the menu and choose exactly what you want. If you need more information about a certain dish or drink, your server will be available to answer any questions you may have. Once they’ve completed your order, they take it to the kitchen, where the meal is prepared. After the meal has been prepared, your server carries it out to you, and as you look at your entree, hopefully you notice that you have been given exactly what you wanted.
In Your Business: After a lead comes to your website, they expect to see something related to what your advertisement says. If your ad says I can buy your home in 7 days and your website has nothing to do with buying their home, they they will get ticked off and click the “X” button. Even if they pick up the phone and call you, they then expect to hear something related to the reason they dialed your number. If you can’t give them what they want, then it’s likely that you will be unable to convert them into a deal. The bottom line is that you need to give them a solution to their problem! You need to combine the “Right This Way” concept with the “Give Them What They Want” concept. Put this on your ad and your website because you want your client to go where you need them to go to get what they want, in order to continue on with your process.”

Fannie Mae Tightens Greater Baton Rouge Underwriting Criteria
http://batonrougerealestateappraisers.net/ - Fannie Mae Tightens Greater Baton Rouge Underwriting Criteria
According to the Louisiana Realtors eNews Digest, Fannie Mae is tightening underwriting guidelines. The Fannie Mae Tightens article is here!
Here’s a snippet:
“Fannie Mae is tightening its underwriting criteria by raising the minimum credit score for automated underwriting (Desktop Underwriter) from 580 to at least 620 for all loans, justified on the grounds that this action “will support prudent risk management and better ensure sustainable homeownership.” Even higher minimum credit scores may apply for both manual and automated underwriting, depending on factors such as the loan-to-value ratio and the number of units in the structure. The minimum credit score applies to all mortgage loans delivered to Fannie Mae, including FHA and other government-backed loans. Fannie is also changing the maximum debt-to-income ratio for Desktop Underwriter to 45 percent, but will allow 50 percent if there are “strong compensating factors.” Other changes are also being made. For more information, view these related Fannie Mae documents:
Fannie Mae Announcement 09-29 (PDF file) Summary and FAQs (PDF file)”

Baton Rouge In Top Ten Housing Markets For Third Quarter 2009
http://www.batonrougerealestateappraisal.com/ - Greater Baton Rouge In Top Ten Housing Markets For Third Quarter 2009

Local Market Monitor Announces Release of Third Quarter Home Price For Largest US Markets, article here! Here’s a snippet:
“According to the forecast, among the largest US markets—identified as those with populations greater than 600,000—the 10 markets with the best expected performance in home price are:
Baton Rouge, LA
Buffalo-Niagara Falls, NY
Columbia, SC
Dallas-Plano-Irving, TX
Fort Worth-Arlington, TX
Houston-Sugar Land-Baytown, TX
Little Rock-North Little Rock-Conway, AR
Omaha-Council Bluffs, NE-IA
Pittsburgh, PA
San Antonio, TX
Syracuse, NY
These top markets, where home values are expected to remain level, are among those markets that did not have a big housing boom and have had relatively small job losses over the past year. Home prices in these areas are generally below the US average and reflect where the recession has so far had a relatively mild impact. Dallas, San Antonio and Omaha have all experienced a 1.6 percent job loss over the past year, and jobs have actually increased in Baton Rouge.”

Altos Research Baton Rouge Real Estate: November Housing Market Update: NAR, Case-Shiller & What We’re Seeing
http://www.batonrougerealestateappraisal.com/ - Altos Research: November Housing Market Update: NAR, Case-Shiller & What We’re Seeing Click on the article link to read this highly intuitive article by Scott Sambucci, which says that sellers are having to become much more realistic with their asking prices to get a sale.
Here’s A Snippet:
“An interesting housing market trend this Fall is the convergence of the Price of New Listings (new sellers entering the market) and Price of Listings Absorbed (sellers exiting the market). You can also see how sellers through the Spring and into the summer were more bullish about their ask prices as compared to the exit prices, with this convergence happening more recently in the Fall season:
“

Baton Rouge Real Estate Appraisers News: Tax Credit Extended
http://batonrougerealestateappraisal.com/ – Baton Rouge Real Estate Appraisers News: Tax Credit Extended

Wow! I arrived back at the office to receive a flood of news about the Tax Credit Extension.
From Wells Fargo Mortgage:
Tami Luhby, with CNNMoney.com, is reporting that Congress Extends Homebuyer Benefits! Bill Extends Homebuyer Tax Credi Into Next Year. Here’s a snippet below:
“NEW YORK (CNNMoney.com) — New homebuyers are poised to see the $8,000 tax credit extended into mid-next year.
The legislation extends the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.
The bill also creates a $6,500 credit for those who buy a home after living in their current house at least five years. That measure would apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.
The credit would be available only for the purchase of principal residences priced at $800,000 or less.”
From Darren James @ Keller Williams Realty:
“Breaking News!!!
As of today-Thursday, November 5th, the bill has passed involving the extension and expansion of the homebuyer tax credit and will be sent to President Obama for his signature. The new program will go into effect when President Obama signs the bill. Click link below for details!!
From Baton Rouge Business Report:




