Congratulations to Deana and Randy who got the keys to their new beautiful house yesterday! It's always a fun adventure searching for the right home, but this is my favorite part of the business!

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Happy Valentine's Day from The Merlino Home Team.

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via The Merlino Team http://ift.tt/1D0QVwh

Inventory down, prices tick up in December... - Lawrence Yun, NAR chief economist, says fewer homes available for sale and a slight acceleration in prices likely led to December’s decline in contract signings. “Total inventory fell in December for the first time in 16 months, resulting in fewer choices for buyers and a modest uptick in price growth in markets throughout the country,” he said. “With interest rates at lows not seen since early 2013, the strength in existing-sales in upcoming months will largely depend on the willingness of current homeowners to realize their equity gains from the past couple years and trade up.”

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Imagine 4 Million Homes in the Palm of your hand.

Imagine 4 Million Homes in the Palm of your hand. Driving, walking, running, cycling around and every home that is available pops up with ALL the info (price, square footage, days on the market, bed, baths, lot size, active, pending, sold)! You can even draw a map circle and the app will show you everything in that area. It does way more than that. Too much to list here... Check it out today! -- http://app.kw.com/kw7amihl Or you can just text kw7amihl to 87778 and get it from the App Store for iOS or the Play Store for Android.

Cheaper Isn't Better

When you get "hit up" over commissions in your listing consultations, remember what it's really about.  Commission objections are ALWAYS about the Seller's net and NEVER about the commission amount.  You need a Unique Value Proposition that shows the Seller how you will NET them more money,  It must be so compelling that the Seller will feel that they would have to be a fool to do business with anyone else regardless of price.  Here's a hint from Simon Sineck: "People don't buy what you sell, they buy what you believe."

These days The Truth is in short supply.  But there's high demand for it.  In fact, people CRAVE it!  So sell the truth... sell what you believe.  If you want to hear and feel what that sounds like in a listing consultation, be at SLAM DUNK on Wednesday May 14th from 9am to Noon at the new NorBAR offices. - Get Tickets Here

Financial Erotica - 50 Shades of Short Sales

Ok... FACT: Long term loan modification, principal reductions, and other enticements to distressed homeowners are fantasies for the vast majority (It's my belief that the "trial period" loan mod payment is simply a way for the bank to recover at least some of the payment while they proceed with foreclosure).  From the bank's perspective, the main purpose of the documentation required from the borrower for the "loan mod" is actually so that the bank can fully document the loan in preparation for collecting on the debt.

AND... Even though big banks are giving billions of dollars to distressed CA homeowners due to the mortgage settlement, it is mostly to get them out of their homes rather than help them stay.  Here's an LA Times story supporting this.

So, if you have a client who thinks they are getting a loan mod, get their short sale back-up plan in place now.  They are already doing the paperwork for the loan mod and it is largely the same as that required for a short sale.  Here's how:

1. Take a 12 month listing with a signed MLS waiver and an Authorization to Communicate. - this allows you to represent the homeowner and begin preparing their file, etc.
2. Help them with the loan mod. - if you do it properly it can speed up the process, keep the homeowner from providing documentation that could seriously hinder their short sale negotiation later on, and may even increase the chances of a successful modification.

Now, when the loan mod is unsuccessful, it's already your listing and you and your client have a far better chance at avoiding foreclosure.