Post on 22-May-2015
description
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Closing In On Our
ForeclosuresHow REALTORS® Are Making
a Difference in the High Desert Foreclosure Market
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
First Let Me Thank Our Team
• Victor Valley Association of REALTORS® Executive Officer – Diane Smith
• VVAR LGR Chair – Debra Ann Peterson, Realty World
• VVAR Director – Rebecca Otwell, Shear Realty
• VVAR Member – Kari Leone, Avanti
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Market Overview – California’s High Desert
• 4 cities & 1 county• Strong local & out of area realty mix• Very high foreclosure area• Lost many local title offices• Less than 2 dozen escrow officers left
Oh, and we’re the area where the bank tore down the “already built luxury development…” Photo from Los Angeles Times
Common Problem
• High foreclosure rate• Properties get run down• Neighbors complain• City tries to “regulate” by
fining• No one can afford fines• Bank wont pay fines• Properties sit
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Photo from Riverside Press Enterprise
Presenting the Situation
We Started With a Basic Premise -
“The best thing for those neighborhoods is to get the properties in the hands of good, responsible owners”
From Which We Could ALL Agree
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Presenting the Impediments
• Competent Closings– Loss of local service providers & contacts
• Timeline of Foreclosures– Most cities are unaware of the dynamics of
getting the contract to service foreclosures
• Effects of Fines– Most cities hadn’t considered the effects of
delaying closings, WHO is affected, or HOW
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Offer Solutions
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
Low Interest Loans
So… What Else Can We Do?
Funding? Water Conservation
?
Coordinate &Publicize?
Redevelopment
First Time Homebuyer
Program
NSP Funds?
“Cash for Grass”
Low Flow Promotion
Quick Final Bills
One Form Fits All
City, VVAR & Water Dept.
WebsitesCity Brochures &
Neighboring AORsTraining on “How
to find a REALTOR®”
What Has the Response Been?
• First online forms First online forms – – Apple ValleyApple Valley• Possible use of RDA Funds Possible use of RDA Funds – – HesperiaHesperia• Available List of Liens Available List of Liens – – VictorvilleVictorville• Coordination of Water & City Coordination of Water & City – –
VictorvilleVictorville
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
www.regalstrategies.com
(714) 402-1430
REGAL Strategies© 2008
VVAR – Closing in On Our
FORECLOSURESCHIP AHLSWEDE
www.RegalStrategies.comChip@RegalStrategies.com
(714) 402-1430