Lodi Association of Realtors weekly marketing meeting will be held at the Masonic Lodge in Modesto off of Rose Avenue (map).  this week’s host is Mortgage Lenders association of Stanislaus County.

Speakers will beMary Quten and Sandy Wolfe.  Come by from 8:00-8:30 and network with fellow agents and affiliates; make new contacts. Speakers will be presenting from 8:30-8:45 regarding updates on the City of Modesto Parks and Recreation Department.

From 8:45-9:00 there will be an open forum for property discussion which is a great opportunity to advertise your new listing(s).  You can also ask questions or make suggestions based on your want and needs and update other Realtors® on any fabulous properties you have that are still available.

Join your fellow agents and promote your properties…All REALTORS® are Welcome!

LAR Save the Dates:

-August 13th – LAR Picnic at Micke Grove Park

-September 22th – LAR Golf Tournament at beautiful Woodbridge Golf and Country Club

Don’t forget to join PMZ Real Estate at the 2nd Annual Valley Real Estate and Economics Conference tomorrow at 8am!  Mike Zagaris will be speaking on the residential real estate panel and is promising to discuss some very interesting points regarding the future of the market for the Central Valley.

Be there or be …. square.. heh.

You missed it! The greatest send off in real estate training history!

After 7 weeks of training with the Floyd Wickman program, our SMART Realtor’s finalized their skills, were rewarded with some hard earned recognition, and sent their trainer, Steve Poscente, off in style. It started out with awards, moved on to a singing telegram, pushed through a testicle festival hat and ended with some music and a group photo.

Here’s Steve with the singing telegram we gave him. What a guy!

Check out more of these photos on our MySpace or Facebook!

Good job agents and thanks a lot Steve!

Now that the market is ripe with foreclosures and other bank owned property, we want to take a moment just to clarify what a short sale really is.

What is a short sale?
To sum it up quickly and concisely, a short sale is a situation in which the lender allows a property to be sold for less than the amount owed on a mortgage and takes a loss.

How does it benefit the homeowner?
After submitting thorough documentation, including, but not limited to:

• W-2 and pay stubs to verify income
• Bank statements to assess assets and financial situation
• Hardship Letter to explain why the bank should consider your property for a short sale

the bank may consider a short sale. The process can help keep the homeowner out of bankruptcy and save their credit rating.

The house will be sold and the difference between what you owe the bank and what the bank received on the sale will either be written off or the seller will be responsible for it.

NOTE: It is important to understand that if the bank writes of the difference, they will more than likely report it as 1099 income for the seller. This could adversely effect the seller’s tax liability.  Speak to a tax professional.  Remember, just because they write it off, doesn’t mean it disappears.

For an even more thorough look at short sales, check out the resources below:

The Definitive Short Sale Article

Short Sale (Real Estate) - Wikipedia

Today was the first day of Floyd Wickman training at PMZ University in Modesto. I stopped by to check out what was going on, shoot some pictures and take a little video.

PMZ agents were highly motivated keeping their trainer on his toes.

If you want to see what I saw, check out our MySpace or Facebook photo albums and videos.

Thanks to Jill Minerva for the tip!

An abundance of homes for sale, aggressive pricing and low mortgage rates has created the “perfect storm” for homebuyers in 2008. And, with spring fast approaching, typically the busiest season for home sales, prospective buyers are gearing up for weekend model home tours and open house events

“As spring approaches, we expect to see buyers who have been sitting on the fence begin to take action,” said Jackie Alexander, a vice president of sales and marketing for Beazer Homes, one of the nation’s top-10 home builders. “More and more people are waking up to the tremendous buying opportunities that are out there today.”

Indeed, the National Association of Home Builders reported in February that prospective buyer traffic has picked up considerably in model homes across the country. And, a recent consumer poll conducted on behalf of Beazer found that 64 percent of respondents believe that for those with good credit and a down payment “this is an ideal time to buy a home.

Alexander advises those shopping for a new home to develop a list of questions to ask sellers along with their must-have features. She says doing the due diligence up front is the key to getting the most “bang for the buck” in the current housing market.

Read the rest of this entry »

PMZBuzz has been informed by the GRI (Graduate, Realtors® Institute) program that they have no sign-ups for the GRI Series to begin in Lodi January 17^th, 2008.

If you are intending to take the course and receive the designation, you need to register ASAP – or the course will be cancelled.

Topics for the course – which is held one day a month – are: Strategies for Success, Purchase Agreement, Environmental Concerns, Trust Funds, Fair Housing, Real Estate Marketing, Investment Properties, Taxation and Exchange, Agency & Ethics, Legal Issues, Financing and Technology.

Signup today and earn this prestigious designation!

Call or email LAR for complete registration information: 209-368-5316 / lodiaor@softcom.net.