Educational Webinar for Homeowners

Educational Webinar for Homeowners

http://stevenwblack.com

December 18, 2010





13 years Experience

background


http://www.flickr.com/photos/srogan/2284111398/











Top-Producing Realtor in Napa

background

http://www.flickr.com/photos/johnjoh/1060267344/ http://stevenwblack.com














Been through it personally

background

http://www.flickr.com/photos/smswigart/5147001743/ http://stevenwblack.com














Driven by passion to help other Americans keep their homes

background

http://www.flickr.com/photos/bondomania/2636802659/ http://stevenwblack.com














Why we’re hereWho is affectedHow it happens

What you can do

we’re going to talk about













the fine print

✴ Steven W. Black & Associates offers information on the state of the market and insight into what has worked in the past. Each situation is unique and you are responsible for the use of the information presented.

Steven W. Black & Associates offers information on the state of the market and insight into what has worked in the past. Each situation is unique and you are responsible for the use of the information presented.

*













the fine print

✴ Steven W. Black & Associates offers information on the state of the market and insight into what has worked in the past. Each situation is unique and you are responsible for the use of the information presented.

Steven W. Black & Associates offers information on the state of the market and insight into what has worked in the past. Each situation is unique and you are responsible for the use of the information presented.

*Don’t worry, we are happy to

o!er help specific to your situation after this presentation













http://www.flickr.com/photos/joao_trindade/4363157652

Why Are We Here?



how it SHOULD work

Change in financial situation

ARM AdjustsJob LossInjuryetc.













Loan ModificationChange in financial situation

how it SHOULD work


Priniciple reductionRestructuring

(interest rate )Enabled by TARP













Loan ModificationChange in financial situation Done.

how it SHOULD work

Priniciple reductionRestructuring

(interest rate )Enabled by TARP


Done.













How it Really Works













Change in financial situation

how it really works














Loan ModificationChange in financial situation

how it really works


Rarely happens~10% include

principle reductionWhere is TARP?













Short Sale Loan ModificationChange in financial situation

how it really works



principlereduction

Where is TARP?

Bank drivesterms of sale

Multiple Offers













Short Sale Loan ModificationChange in financial situation

how it really works



principlereduction

Where is TARP?

Bank drivesterms of sale

Multiple Offers

Fore-

closure

!!!

Fore-

closure!!!













Who is Directly Affected?

http://www.flickr.com/photos/billward/4461521050/ http://stevenwblack.com














home purchased in the last 13 years

who is directly affected?













home purchased in the last 13 years


that’s back to 1997













refinanced in the last 13 years


that’s back to 1997













Who is Indirectly Affected?













who is indirectly affected?


friends and family















communities


http://www.flickr.com/photos/familymwr/4841981088 http://stevenwblack.com














local businessesschools

marriagestaxpayers














Everyone.














Who Profits?













bank profits

$0

$15

$30

$45

$60

3/08 6/08 9/08 12/08 3/09 6/09 9/09 12/09 3/10 6/10 9/10

InBillions

* Source: Federal Deposit Insurance Corporation (FDIC; http://www.fdic.gov)

*


http://www.fdic.gov

http://www.fdic.gov












bank profits

$0

$15

$30

$45

$60

3/08 6/08 9/08 12/08 3/09 6/09 9/09 12/09 3/10 6/10 9/10

InBillions

* Source: Federal Deposit Insurance Corporation (FDIC; http://www.fdic.gov)

*

$38 Billion533% annual increase

124% quarterly increase

$51 Billion292% annual increase

34% quarterly increase


http://www.fdic.gov

http://www.fdic.gov












How it Happens













pine st. napa

$55,000

$110,000

$165,000

$220,000

Oct 28, 2010Dec 10, 2010

2 Bedroom1 Bath~0.3 Acre

870 ft2

Reg

ular

Sal

e













pine st. napa

$55,000

$110,000

$165,000

$220,000

Oct 28, 2010Dec 10, 2010


1150 ft2870 ft2

Bank

ow

ned

Sold

by

RE

O

Reg

ular

Sal

e

* Intentionally pulled one of the lowest comps in timeframe closest to close of escrow of affected propertyhttp://stevenwblack.com












pine st. napa

$55,000

$110,000

$165,000

$220,000

Oct 28, 2010Dec 10, 2010


1150 ft2870 ft2

$50,100 devaluationfor a house 32% larger

in ~5 weeks

Bank

ow

ned

Sold

by

RE

O

Reg

ular

Sal

e













westwood neighborhood

$57,500

$115,000

$172,500

$230,000

Sept 4, 2009Sept 18, 2009


880 ft2

Reg

ular

Sal

e














$57,500

$115,000

$172,500

$230,000

Sept 4, 2009Sept 18, 2009


760 ft2

880 ft2

Bank

ow

ned

Sold

by

RE

O

Reg

ular

Sal

e














$57,500

$115,000

$172,500

$230,000

Sept 4, 2009Sept 18, 2009


760 ft2

880 ft2

$81,800 devaluationin 14 days

Reg

ular

Sal

e

Bank

ow

ned

Sold

by

RE

O













autumn run neighborhood

$350,000

$700,000

$1,050,000

$1,400,000

Jan 31, 2007

Nov 12, 2010

Apr 10, 2

007M

ay 29, 2007

Oct 26, 2

007Oct 3

1, 2007

Nov 9, 2007

Apr 4, 2

008Apr 2

3, 2008

Mar 2

4, 2009

Mar 2

6, 2010

Reg

ular

Sal

e

May 11, 2

009Jul 2

9, 2009














$350,000

$700,000

$1,050,000

$1,400,000

Jan 31, 2007

Nov 12, 2010

Apr 10, 2

007M

ay 29, 2007

Oct 26, 2

007Oct 3

1, 2007

Nov 9, 2007

Apr 4, 2

008Apr 2

3, 2008

Mar 2

4, 2009

Mar 2

6, 2010

Reg

ular

Sal

e

Bank

ow

ned

May 11, 2

009Jul 2

9, 2009

* *














$350,000

$700,000

$1,050,000

$1,400,000

Jan 31, 2007

Nov 12, 2010

Apr 10, 2

007M

ay 29, 2007

Oct 26, 2

007Oct 3

1, 2007

Nov 9, 2007

Apr 4, 2

008Apr 2

3, 2008

Mar 2

4, 2009

Mar 2

6, 2010

Reg

ular

Sal

e

Bank

ow

ned

May 11, 2

009Jul 2

9, 2009

* *

$765,000 devaluationover 3 years while

bank profits are at record highs















*911 Napa Properties inforeclosure/pre-foreclosure/

bank owned

* Source: Foreclosure Radar (http://www.foreclosureradar.com)












http://www.fdic.gov

http://www.fdic.gov

http://www.foreclosureradar.com

http://www.foreclosureradar.com

What Can You Do?













http://www.flickr.com/photos/yourdon/3405811164/

what you can do

Get Educated















http://www.flickr.com/photos/yourdon/3405811164/

what you can do

Get Educated

Being here is a great start!















what you can do

Get Help

http://www.flickr.com/photos/soldiersmediacenter/4748766022/ http://stevenwblack.com














http://www.flickr.com/photos/soldiersmediacenter/4748766022/

what you can do

Get Help

*

Or someone like us*http://stevenwblack.com














Next Steps













next steps

Upcoming Webinars:How to Choose a Realtor

Protecting your Home

Professional Assistance:Steven W. Black & Associates

Real Estate LawyerCPA













we are here for you

http://[email protected]

@stevenwblackFacebook

1.707.931.4700




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http://twitter.com/stevenwblack

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Questions&

Answers













We Encourage SharingYou are free to download and distribute this presentation under

the terms of the Creative Commons Attribution-Non-Commercial-ShareAlike license

That means you can use the information in this presentation for non-commercial means as long as you share your work under the

same license and give credit toSteven W. Black & Associates

finishing up


http://creativecommons.org/licenses/by-nc-sa/3.0/
























Educational Webinar for Homeowners

Real Estate

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