Nexus connection july 31 2010

July 2010 31 7 WAYS…………...1

INSIGHT………..…..2

FORECLOSURES...…..3

Connection NEXUSKEEPING YOU ON THE CUTT ING EDGE OF THE

BUSINESS OF REAL ESTATE

7 ways - A message from Frank D’Angelo

MARKET WATCH Data courtesy of MAAR

July 2010 Pendings

3,028

One-Year Change:

-32.7%

8.64 Homes on the Market Per

BUYER (August ‘10)

Affordability Index: 205 (June ‘10)

Let me share 7 ways in which EXIT differs from the other choices. All the other choices can still be good choices for agents and bro-kers who wish to go on a particular career path. However, after reviewing these 7 ways, you’ll see why our agents and brokers feel EXIT Realty is the most pro-active choice. 1. Our Unique Operating System: It is a simple revenue sharing model and it works. It provides additional income streams to agents and their families including retire-ment and death benefits. Over $200 Million has been paid out to date and it is not contin-gent on the profitability of the company. It

allows them to build a business within a business through the power of vesting the agent with the broker. A ‘True Mentorship’ model. 2. MEMO & EXITRAC. Pro-

prietary software systems to not only oper-ate your business, but to track and maintain the agents sponsored into the company so you can see past, current and pending activ-ity. Our systems are among the best in the industry and available to make it easier for you to run your business. 3. Trend Setters. EXIT Realty recognizes that a high percentage of leadership in cor-porations is shifting to women. Our U.S & Canadian Presidents are both highly skilled and experienced women who have been identified as outstanding women in leader-ship. 4. Green Initiative. EXIT Realty introduced our company-wide "Teal is the New Green" initiative in support of the green movement across the country. In November of last year, we were the Cover Story in RisMedia's Real Estate Magazine announc-ing this trend setting move to stay ahead of the curve. 5. Available CEO/Founder and Leader-ship. When is the last time you spoke to your CEO or upper-level management?

How available are they when you need them? EXIT Realty is committed to service and support, as well as being available to our people who have made the investment in our company. We are here for you. 6. Technology Tools & ERC. Everyone has technology and tools. But, do they have the right technology and tools? Do they have a technology specialist available to answer your questions at your fingertips? We do. We know how important technology is to-day to compete and we have some innova-tive and exclusive tools just for us on our EXIT Resource Center (ERC). 7. Mindset Training. EXIT Realty believes that good agents are born, great agents are trained. While other companies are cutting back, EXIT is forging ahead, keeping the focus on training agents to better service the clients and be more productive for our fran-chisees. It simply makes good sense. These are important, relevant, and impera-tive to staying competitive today in Real Estate.

www.exitrealtynexus.com

July 2010 Listings

6,890

One-Year Change:

-9.7%

Life's a voyage that's homeward bound. Herman Melville (1819 - 1891)

Insights with Karen Tobler Legislative Updates - 2010

UPCOMING EVENTS &

SPECIAL OCCASSIONS

August 13th     Happy Birthday Donavon DesMarais!!  August 18th     Happy Birthday Chris Kornberg!!  August 13th     Happy Birthday Debbie Blesi!!   

   Every Tuesday : Business Development BriefingEvery Tuesday : Business Development BriefingEvery Tuesday : Business Development Briefing   Every Wednesday:  Weekly Web Workshop  Every Wednesday:  Weekly Web Workshop  Every Wednesday:  Weekly Web Workshop     

10:00 am Sharp!10:00 am Sharp!10:00 am Sharp!                                           

Ever wonder what is really going on at our State Capitol? The leg-islature is usually in a perennial buzz, going from budget agree-ments to new policies and back. This year has been quite dra-matic. The budget has been a significant player in the state’s political arena this year. What else could we expect with a $994 million deficit. Shift happens. In fact, during the 2010 session over 2,700 bills were introduced in both the House and Senate. Talk about shift! With so many bills, some make it, some don’t. The Wetland Dis-closure Bill which would require

disclosure of the existence of wetlands, something difficult to do during our winters, did not pass, for example. The Jobs Bill and a few others made it, how-ever. Recently, we also saw the po-tential for the elimination of the mortgage interest tax de-duction, state deed and mort-gage registry tax increases or changes to where funds are di-rected. Those topics will most likely come back to make another grand appearance for the next biennium.

As a REALTOR®, keeping up-to-date on the actions of our legis-lature is so important. Not only in regards to knowing our own business, but also to help advise our clients and keep them in-

formed of changes that can impact their homeowner-ship, whether it be good or bad. So, how do you keep up as a real estate professional.

Let’s be honest, things don’t ex-actly change at a snail’s pace anymore. If you are still wondering about an answer to that question, I’ll

tell you. Get involved with your Government Affairs Committee members, our boards, both local and state, and read up on the up-dates when the come to you. More importantly, the Calls to Action are critical! And, when you contribute to RPAC, your money goes along way. All these actions protect you and your clients! Make your shift today! Comments or Questions? Contact Karen at 763-548-1416 or at [email protected]

...keep them informed of changes that can impact their

homeownership…

Foreclosure: Doesn’t Mean Get Out!! A look at options with Debbie Blesi

Today as we know many Americans are facing Foreclo-sure. Not because they are bad people. Mostly because they just fell on hard times or experienced a legitimate hardship. Most people are not aware of their options or the actual amount of time they have in the State of Minnesota which is a redemption state. The main objective is to obtain the right information and stay in the home until all options are explored! First, meet with a licensed real estate professional who can point you in the direction of all options including: working with the bank a loan modification can be the immediate solution. This may take some time and effort because they will need to see Tax infor-mation for the past year or two and will need your past 3 months pay check stubs, employment status as well as unemployment statements if applicable. Banks will also need a financial disclo-

sure that provides them with an itemization of monthly bills along with a hardship letter explaining their hardship. If the borrower/seller needs to sell their home and move, a Short sale may be an-other option. Short sale means that your home would be sold for less than what is currently owed on your home. This is also in the hands of the banks and requires their approval . The home would be listed for sale at a fair market price and once an offer is re-ceived and accepted by the seller, the offer would be sent to the bank to review, explore and po-tentially approve a short sale. This process may take up to 90 days depending on the bank on the situation. After doing their review and study, the bank will

determine if the offer is accepted or declined or countered. These are options in the Pre-foreclosure stage. The home is NOT officially foreclosed on un-til the full process is completed and that may take up to an entire year in the State of Minnesota. Once the borrower re-

ceives formal documenta-tion stating that the fore-closure proceedings have started, a Sheriff sale date will typically be set and homeowner will be noti-fied of the date. It is im-portant to note that the

Sheriff Sale does not mean that the Sheriff goes out to the home to sell it or auction it away to the public, nor does it mean that the borrower or homeowner must be moved out by that date.. The Sheriff Sale is held at the court house, and it is a formal auction that usually includes a legal rep-resentative of the bank or other investors interested in hearing what happens at the sale. As the

winning bid is posted, that is the mini-mum amount first lien holder or bank settle for during the redemption phase that is typically up to 6 months after the Sherriff Sale assuming the home is still occupied. If there are additional liens or mortgages, the licensed real estate profes-sional can help the borrower ne-gotiate those liens in a short sale. In some cases, the Sherriff Sale may end up with an amount much lower than what was originally owed on the home an the home owner may have new rights and options. The best thing all homeowners can do if they are in a short equity position on their home and have experienced some legitimate hardship, to explore their options. Comments or Questions? Contact Debbie Blesi at 763-548-1422 or at [email protected]

Most people are not

aware of their options ...

CONGRATULATIONS

LISTINGS & CLOSINGS

Donavon DesMarais (multiple) Chris Kornberg (multiple) Sheldon Berquist (multiple) Frank D’Angelo (multiple) Jodi Vezina

Mindy Shears (multiple) Rick Gullickson Mike Peterson Mark Lendway Justin Burke (multiple)

Gratitude is not only the greatest of virtues, but the parent of all others.

Cicero (106 BC - 43 BC), 'Pro Plancio,' 54 B.C.