Jack's Blog

Blog Talk Radio 5 Stages of Grief in a Short Sale

Jack Lewitz — Sat, 05 May 2012 13:52:58 +0000

Follow the link below to my first Blog Radio Broadcast on 5 Stages of Grief in a Short Sale.

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Listen to internet”>http://www.blogtalkradio.com”>internet radio with ILRealtorhttp://www.blogtalkradio.com/ilrealtor”>ILRealtor> on Blog Talk Radio

HELP FOR HOMEOWNERS IS COMING TO ROSEMONT ON APRIL 23, 2012

Jack Lewitz — Sat, 21 Apr 2012 15:29:23 +0000

A Main Event is coming to Illinois on Monday April 23, 2012. This Event is being co-sponsored by Department of Housing and Urban Development (HUD) and the Department of the Treasury. The event is divided into two (2) parts. Morning Sessions are devoted to working with Realtors and giving them SHORT SALE Training but the afternoon event will be devoted to working directly with Homeowners who are struggling to make their mortgage payments and want a opportunity to meet face to face with their lenders. I encourage all homeowners to make this event because it is free and you do not want to miss out on a opportunity to solve your problem. You can meet with a HUD counselor to discuss the Home Affordable Refinance Alternatives (HARP) , Home Affordable Mortgage Alternative (HAMP), Short Sale, Deed in Lieu of Foreclosure.

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Which Road Are You On?

Jack Lewitz — Fri, 20 Apr 2012 16:00:07 +0000

If you own a homeowner today I am sure you have travelled down one of these roads where you think your either lost, confused, unsure or unclear about the future.

Today’s Real Estate Market is causing many people to travel down these paths and some paths will lead you to help while others will lead you to a dead end.

Which path are you on and which path will get you the help you need has always been the number 1 question in today’s real estate market. How does someone navigate all the different options and then deciding on which option is best for you?

Well I think we have the Answer… On May 30, 2012 “You are Invited to Attend A Free Seminar .. In the Comforts of Your Own Home” you will be able to hear and ask a group of panelist questions that are here to assist you on the Right Path.

Which Road Do you want to be on? We hope you attend the seminar and promise not to lead you to a Dead End!!!

The Shadow Inventory..

Jack Lewitz — Thu, 19 Apr 2012 17:06:13 +0000

There has been alot of talk and speculation that there is a huge shadow inventory of foreclosures soon to hit the real estate market. HousingWire reported the shadow inventory totals 1.6 million units with 800,000 listed as serious delinquent, 410,000 in some stage of foreclosure and another 400,000 already Real Estate Owned (REO) by the banks.

Florida, California, and Illinois account for almost a third of all of the Shadow Inventory expected to reach the market in the near future. That means there are over 500,000 new foreclosures to be split among the top three states.

If this information is accurate, the next question to ask is how is Illinois going to absorb all of these new foreclosures coming into the market and what affect will it have on the total market and prices of existing homes for sale?

Short Sale and Foreclosures are the New “Traditional” Real Estate Transaction.

Jack Lewitz — Mon, 16 Apr 2012 20:59:00 +0000

For many real estate professionals, short sales and foreclosures are the new “traditional” real estate transaction. Knowing how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale an foreclosure opportunities are not merely good skills to have in today’s marke they are critical. If you are a homeowner who wants to do a Short Sale then it is good to work with an agent who is SFR or CDPE certified. Both designations are recognizing agents who are qualified to assist homeowners with a Short Sale.

It is also important to ask the agent if they have expeience with Equator, Resnet, and find out who handles the negotiations with the lender.

The Early Bird Catches the Worm

Jack Lewitz — Sat, 03 Dec 2011 15:47:02 +0000

When Buying Foreclosures I often tell buyers ” The Early Bird Catches the Worm”. Buying foreclosures like any transaction can be frustrating or rewarding depending on how you go about your business. My advise to buyers is to not be afraid to write an offer because you want your offer in front of the Asset Manager before others are being considered. Next, do not get discouraged if your first offer was not accepted. Asset managers will negotiate with you and it is up to you how you negotiate but if persistant you will be successful.

In my experience working with buyers and buyer agents they tend to not understand the process of buying foreclosures and get stubborn and in the end they loose. In the end its all about your attitude and what you bring to the table when negotiating with Asset Managers and foreclosure properties.

If you get your offer in first, continue to negotiate, and keep your emotions in balance then you will be successful. If not then ” If you Dont Succeed Try and Try Again”

Tome Accion Ahora Para Cambiarlo En El 2012

Jack Lewitz — Mon, 28 Nov 2011 14:58:25 +0000

La reciente sacudida económica ha sido responsable por un sinnúmero de victimas. Mirando hacia el 2012 es imposible saber lo que nos espera. Tampoco podemos predicar el impacto en las finanzas de su familia que pueda traer una ascendencia o otra descendencia económica a nivel nacional.

Aparte de lo que suceda en Washington o en Wall Street hay dos cosas que son bien claras: usted no es el único que se encuentra en esta situación y el tiempo para prepararse y normalizar sus finanzas es ahora.

Por la epidemia nacional de desempleo y con 25% de dueños de casa debiendo mas en su propiedad de lo que vale; ser dueño de casa se ha convertido en un riesgo económico para muchos. La inhabilidad de hacer pagos de una casa, que tampoco se puede vender, es como tener una cuerda al cuello. Pero la realidad es que hay soluciones-solo que una de ellas, no debe ser, que usted permita que el banco reposee su casa.

Una modificación de su préstamo es la opción de algunos; pero ahora los bancos están mas dispuestos a negociar un venta corta (short sale). En muchos casos están ofreciendo incentivos financieros, para ayudar a dueños de casa que se encuentran atados financieramente, y puedan tener un nuevo comienzo al quitarse la deuda de su hipoteca.

Como profesional en bienes raíces, quien ha adquirido la designación de CDPE, es mi misión ayudar a todo dueño de casa obtener el don de un nuevo comienzo. Envíeme un correo electrónico o llame por teléfono para a hacer contacto conmigo hoy; debemos empezar lo antes posible.

Carlos (Charlie) Martínez

Real Estate Broker-CDPE

email: cmartinezkwbroker@gmail.com / tel. 847-901-3141 / website: www.helpmesellnow.info

Bank Proverb We All Should Be Reminded About..

Jack Lewitz — Sat, 05 Nov 2011 14:29:29 +0000

A Banker is a fellow who lends you his umbrella when the sun is shining but wants it back when it begings to rain

Somethings Brewing with The Banks but it is not likely to be ready for Halloween

Jack Lewitz — Sat, 29 Oct 2011 15:01:44 +0000

Looks like something is brewing with the banks but it is not likely to be ready for Holloween. Huffington News reported Banks ( BOA, Chase, Citi Mortgage, Wells) just to name a few are thinking about Principal reductions to help homeowners. Resisting this concept of Principal reduction is Fannie Mae and Freddie Mac.

Its kind of scary the banks are actually thinking logically here with a program that might actually help the housing market. As a realtor involved in the distressed market I have been consistent with my feelings that the only way to solve the houseing crisis is too look at the whole picture.

I support this concept of Principal reduction as I feel it is a WIN WIN WIN situation for all homeowners whether you are in distress or not. If principal reduction is done properly then the housing crisis will begin to correct itself.

First Principal reductions should not be automatic. It should be based on current market values. Anyone could be eligible to refinance their home at the current market value with one stipulation. The amount reduced is not forgiven but just a forebearance until the property is sold. So inother words homeowners will become equity partners with the bank on the forebearance amount of the new loan and will share in the future benefits when sold. This is a paper transaction so banks show no loss on their books and preserve their capital requirements, continue to get stream of payments on the new loan, and can start lending on new loans. Win for Banks.

For the homeowner it is also a win. Those who are struggling will now be able to afford a new mortgage since it is based on Principal reduction, lower interest rates, and longer terms thus keeping mortgage payments affordable. This is what is needed to keep people in their homes. Win for Struggling homeowners.

Finally those homeowners not struggling will also benefit by this because as more homeowners struggling are able to refinance and keep their homes less homes will be foreclosed and home values will begin to stabalize. This is a Win for homeowners in general.

I wish Fannie Mae and Freddie Mac would embrace this Principal Reduction Plan and see it as a way to stabalize the housing market.

DO YOU KNOW WHAT IT FEELS LIKE WAITING FOR SHORT SALE APPROVAL?

Jack Lewitz — Mon, 26 Sep 2011 21:17:53 +0000

Do you know what it feels like waiting for the Short Sale to be Approved by the Bank?

Well I do because I just completed my own Short Sale and am happy to share those thoughts.

It feels like all the weight I have been carrying has finally been lifted.

The constant burden one feels waiting, anticipating, felling helpless during the Short Sale process has been totally lifted off my shoulders. I can stand straight and tall now that the Short Sale has closed.