Coldwell Banker partners with Videolicious

1,000 agents will get access to automated video creation platform

BY INMAN NEWS, WEDNESDAY, JANUARY 16, 2013.

Inman News®

In a new relationship that it says could grow, franchising giant Coldwell Banker Real Estate LLC has announced it will provide a customized version of the Videolicious automated video creation platform to 1,000 agents who have demonstrated a desire to grow their business through video.

Videolicious will allow Coldwell Banker agents to create videos without complex software, the company said, using their iPad or iPhone and integrating existing stills and video to create shorts in minutes.

“We believe that video content needs to go beyond slide shows, and our system has adapted to video as a critical component in showcasing their personality and industry knowledge,” said Michael Fischer, chief marketing officer at Coldwell Banker Real Estate, in a statement.

Fischer said Coldwell Banker On Location, the brand’s YouTube channel, has more than 50,000 videos and saw a 121 percent increase in views last year.

Videolicious was one of a number of new companies demonstrating new services at last summer’s Real Estate Connect conference in San Francisco, and is one of 25 exhibitors in “Start-Up Alley” this week at Real Estate Connect New York City.

Videolicious CEO Matt Singer will team up at the conference Thursday with HDhat CEO Mark Passerby and Andreas Klavehn of Carl Zeiss AG, to present alive demo at 10:05 a.m. EST on using smartphones to produce high-quality video.

Courtesy of your Arcadia Real Estate Agent

Halloween Trick-or-Treat Special

Halloween Trick-or-Treat Special
Date/Time: 10/29/2008  6:30 PM
Location:
Arcadia Public Library
20 W. Duarte Rd.
Arcadia, California  91006
Description:

Halloween Trick-or-Treat Special

Wednesday, October 29 at 4:00 or 6:30 p.m.
Ages 2-6

Come in costume and enjoy some early Halloween fun!  There will be stories, songs, and a snack.  Plus, of course, a chance to trick or treat through the Library! 

You must have a ticket to attend this event. 

Free tickets will be given out beginning Saturday, October 18.  There will be a limit of 75 children for each session.

10:00 a.m.-11:00 a.m: Arcadia residents (must show proof of residency)
11:00 a.m. forward: Open registration. 

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT

Debate leaves some taxing questions about housing unresolved

Commentary: Obama and Romney need to provide more details on their positions

BY KEN HARNEY, WEDNESDAY, OCTOBER 10, 2012.

Inman News®

Mitt Romney and Barack Obama images via MittRomney.com and WhiteHouse.govMitt Romney and Barack Obama images via MittRomney.com and WhiteHouse.gov

Anybody who watched it knows that Mitt Romney scored a technical knockout of President Obama in last week’s debate. But are there some potential future costs and concerns for housing that have to be looked at in the wake of that victory?

On the one hand, Romney surprised Obama with sharp criticism over an issue that has plagued homebuyers and refinancers: the super-strict underwriting and documentation that banks are requiring for home loans, in part because they’re worried about forthcoming “qualified mortgage” federal rules under the Dodd-Frank financial reform legislation.

“It’s been two years,” Romney said to Obama at the Denver debate, “We (still) don’t know what a ‘qualified mortgage’ is. So banks are reluctant to make mortgages … It’s hurting the housing market.”

There’s no question that regulators have proceeded at a frustratingly glacial pace since the passage of Dodd-Frank in July of 2010, and we don’t know what the Consumer Financial Protection Bureau will come out with on this issue in early 2013.

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT

Regulator Vows New Rules to Repair Mortgage Markets

In a move aimed at making it easier for consumers to get mortgages, the federal regulator for Fannie Mae and Freddie Mac FMCC -2.12% said Monday the mortgage giants would address a big controversy of the housing bust: who gets stuck with bad loans.

Fannie and Freddie have forced banks to repurchase billions of mortgages that have defaulted over the past few years. To protect themselves from facing similar demands, banks have raised their lending standards beyond what the two mortgage companies require, scrutinized appraisals, and demanded extensive documentation of a borrower’s income and assets.

image

ReutersA bank-owned home for sale in Encinitas, Calif., in a file photo from 2009.

To ease lenders’ concerns, the Federal Housing Finance Agency said on Monday it would issue guidance that would detail steps that could limit their risk of having to buy back defaulted mortgages in costly loan “put-backs.”

For example, banks will be released from having to buy back a loan under certain conditions if the mortgage has a record of on-time payments for the first 36 months, or for the first 12 months on loans that are part of an existing refinancing initiative. Those changes will take effect next year.

It isn’t clear how far the latest guidance will go toward making it easier for consumers to get a mortgage. While mortgage rates have fallen by a full percentage point over the last 18 months, demand for new loans remains nearly unchanged from one year ago.

“For the market to reclaim the strength it once had—and to provide a cornerstone for the mortgage market of the future—it is vital we consider ways to improve” the loan review process, Edward DeMarco, the acting director of the Federal Housing Finance Agency, told an industry conference Monday.

Fannie and Freddie don’t make loans, but instead acquire or guarantee those made by banks and other lenders. Those banks make certain “representations and warranties” to Fannie and Freddie when they sell loans, and the mortgage giants can force banks to take back any loans found to run afoul of those standards. Over the past year, banks have charged that Fannie and Freddie are putting back more loans that defaulted for reasons that had nothing to do with an underwriting defect.

Fannie and Freddie have asked that banks buy back nearly $75 billion in loans that lenders sold to the mortgage giants since 2005, according to Inside Mortgage Finance, an industry newsletter.

The new rules won’t have any impact on the current battle over who winds up with the bad loans made during the boom years.

In exchange for shielding banks against put-backs on certain loans, Fannie and Freddie will step up screening for potential loan defects of new mortgages. Officials said Monday that a more robust data-collection system implemented in recent years has made it possible to increasingly review loans as they are acquired, as opposed to reviewing them after they default.

Because buying back one bad loan can wipe out the profit on 30 or 40 good loans, lenders have become extremely cautious in approving mortgages. “If there’s a question at some point, it’s the safer move to deny” the loan, said Bob Walters, chief economist at Quicken Loans.

An April survey of senior loan officers by the Federal Reserve showed that the risk of put-backs had become a leading factor preventing banks from easing credit standards for mortgages, even as they have eased standards for other loans, such as cars and credit cards.

“Lenders have pulled back because they don’t know what their future exposure around repurchases is going to be…. Ultimately that has limited the availability of mortgage credit,” said Maria Fernandez, associate director for housing and regulatory policy at the FHFA.

The agency’s goal, she added, “is to be very clear with lenders what our expectations are so we can help facilitate more liquidity.”

Industry analysts said the impact of the new rules would rest largely on the details of the rules issued by Fannie and Freddie, and how they enforce those rules. “If you have written guidance from these quasi-government agencies what their terms are, they can’t really walk away from that,” said Laurence Platt, a banking-industry lawyer at K&L Gates in Washington.

At the same time, banks face new regulation in the coming year that could keep them in a defensive position. One provision of the Dodd-Frank financial-overhaul law, for example, carries potentially steep penalties if banks don’t properly ensure a borrower has the capacity to repay a loan.

Some large banks are also facing subpoenas from federal prosecutors as part of an effort by the FHFA’s inspector general to determine whether the U.S. could recoup money from banks that sold defaulted loans to Fannie and Freddie, according to people familiar with the investigation.

“It’s one step forward, two steps back,” said Mr. Platt. “You have a bunch of different legs that aren’t walking in unison.”

By NICK TIMIRAOS

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT

Donate! Harvest for Habitat

 

Please join us September 15th at Harvest for Habitat “Small Bites for Big Dreams,” a fundraising event to support San Gabriel Valley (SGV) Habitat for Humanity. SGV Habitat for Humanity transforms lives and communities by bringing people together to build, renovate and repair affordable homes for families in need.  “Small Bites for Big Dreams” will feature a variety of foods from local restaurants.

In addition to “small bites” there will also be silent and live auctions, a wine and beer bar, and live entertainment featuring the Jennifer Dyer Jazz Band.  We hope you will join us at this wonderful event and in our efforts to provide families a stable home and community in which they can live, work and grow.

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT

Arcadia Market Report (May 2011 – May 2012)

Arcadia Market Report (May 2012)

COURTESY OF YOUR NUMBER ONE ARCADIA REAL ESTATE AGENT

Seniors Graduate La Salle High

It went by so fast! La Salle High School graduated 195 seniors Friday.

Lancers enter the Church of Nazarene for graduation ceremonies. Credit John Blackstock

Photos

Lancers enter the Church of Nazarene for graduation ceremonies.Katrina Dela Cruz delivers the Commencement Address at La Salle High School's graduation ceremony. Meaghan Allen delivers the Welcome Address for La Salle High School's 2012 Commencement. Meaghan Allen delivers the Welcome Address for La Salle High School's 2012 Commencement.

La Salle High School graduated 195 seniors at its 53rd Commencement on Friday evening. Commencement exercises took place at the Church of the Nazarene, next-door to the school.

Sheyda G. Pejoumand received the La Salle High School General Excellence Award and will attend the University of California, Berkeley in the fall. Pejoumand also received the Excellence Award for Spanish.

The General Merit Award went to George J. Pearman who will also attend the University of California, Berkeley.

Claire C. McCarthy and Mathew Godshall received the Archdiocese of Los Angeles Christian Service Award.

Chelsee J. Grover-Odom was selected by her senior class peers to receive the Pro Deo et Patria Award.

The De La Salle Service Award went to Vincent Delgatto and Manuel M. Sariano. Francisco Luna and Arolyn D. Basham received the Brother Celestine All Around Athlete Award.

Meaghan E. Allen, who lives in Sierra Madre gave the Welcome Address and Katrina A. Dela Cruz was chosen by the Faculty Commencement Committee for the honor of delivering the Commencement Address.

Every member of La Salle’s graduating class will attend college or post graduate academies next year, and 91-percent of the class will matriculate to four-year institutions.

I’ll Have Another Wins Preakness–Second Jewel In Triple Crown!

Gutierrez, Derby winner win Preakness thriller, are one win from the Triple Crown

BY JENNIFER CALDWELL

updated 9:22 p.m. ET May 19, 2012

BALTIMORE – Two weeks ago, J. Paul Reddam’s I’ll Have Another ran down pacesetter Bodemeister to take the Kentucky Derby under the Twin Spires at Churchill Downs. On Saturday, I’ll Have Another took on that pacesetting rival in the 137th running of the Preakness Stakes and gutted out a neck victory to take the second jewel of the Triple Crown at Pimlico.

The front-running Bodemeister took command straightaway and set more reasonable fractions of :23 3/5, :47 3/5, 1:11 3/5 and 1:36 3/5 this time around than what he did in the Derby. Jockey Mario Gutierrez settled I’ll Have Another in behind and to the outside as Creative Cause kept pace with Bodemeister on the backstretch.

Bodemeister, Creative Cause and I’ll Have Another swung around the turn in tandem, but the gray Creative Cause couldn’t keep pace as his two rivals faced off yet again. Bodemeister held the advantage for much of the stretch run, but I’ll Have Another kept inching closer and just got up in the shadow of the wire to finish 1 3/16 miles on the fast dirt in 1:55 4/5.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“We wanted to be a little bit closer to Bodemeister this time because normally that horse runs a huge race,” Gutierrez said. “My horse has a tremendous kick in the end. He has been proving that in the last three races. He didn’t disappoint again today. He has proven a lot of people wrong. I just have to prepare because I want to be at the same level as him. He’s an amazing horse.”

The exciting rematch was witnessed by a record crowd of 121,309 at Pimlico, edging the 2005 Preakness when 121,263 packed Old Hilltop. The 13-race Thoroughbred card generated an all-sources handle of $80,463,005. The handle ranked as the sixth highest for Pimlico’s signature day.

“The numbers say it all. We had a tremendous event,” Maryland Jockey Club president Tom Chuckas stated.

It’s now on to the Belmont Stakes in New York for the Doug O’Neill-trained I’ll Have Another, who cost just $35,000 when purchased by O’Neill’s brother Dennis at the 2011 OBS Spring Sale of Two-Year-Olds in Training. The colt will attempt to become the first Triple Crown winner since Affirmed swept all three races in 1978.

“I’m just numb,” Doug O’Neill said. “I could see him and I felt like he was coming, but you never want to expect that he’s going to be in front. I saw him coming. It seemed like the stretch never ends. Usually you want it to end. Incredible.

“Just absolutely exciting,” O’Neill added in regards to winning the first two legs of the Triple Crown. “It’s what it’s all about. Those are the kind of races you hate to lose. But when you win those kind of races, you always feel like you have a chance the whole race. Then you’re yelling at the top of your lungs. Then to see a horse in front at the wire, there is no better feeling. It’s incredible.”

“I haven’t thought past today,” Reddam admitted when asked about going for the Triple Crown in an NBC post-race interview. “I just can’t imagine it. Hopefully the horse is doing well out of the race. It’s going to get crazy.”

I’ll Have Another paid $8.40, $3.80 and $2.80 as the 3-1 second choice to move his record to 7-5-1-0. The chestnut colt boosted his earnings to $2,693,600 with the winner’s share of the $1 million purse.

Bodemeister reputed himself well in second as the 8-5 favorite, and it was another 8 3/4 lengths back to Creative Cause in third.

“It’s one of those things where it’s good for the sport. It’s good for the Belmont. It’s tough,” trainer Bob Baffert admitted about Bodemeister’s loss. “I felt really good about where he was. He looked like he was traveling nicely down the backside and coming to the three-eighths pole, he just sat on him. The fractions were more reasonable today, so turning for home I really thought he was going to do it. He just got a little late there at the end.

“It was a good horse race. I really can’t complain. We didn’t win it, but my horse ran his race.

“The winner’s a good horse. He’ll get the respect now that he deserves,” Baffert added. “The California horses are really tough. They ran 1-2-3. I’m proud that as a trainer my horse showed up and he ran his race. He just got beat.”

“I thought I put him away, but (I’ll Have Another) reached up and got us with three strides,” said Bodemeister’s jockey, Mike Smith. “Two great horses and I give them all the credit for what they did.”

Zetterholm rounded out the superfecta three lengths farther back, while Teeth of the Dog, Optimizer, Cozzetti, Tiger Walk, Daddy Nose Best, Went the Day Well and Pretension completing the order under the wire.

“We’re happy,” trainer Richard Dutrow said of Zetterholm’s fourth-place run. “He’s not supposed to beat the top two, so we are really pleased with the way he ran today.”

“He ran a huge race,” jockey Junior Alvarado said of Zetterholm’s performance. “He was there and was coming from behind. We were almost last and when I asked him, he started to pick it up.”

I’ll Have Another is following in the illustrious hoofsteps of fellow California-based Sunday Silence, who captured the Grade I Santa Anita Derby en route to victory in the Kentucky Derby and Preakness over Easy Goer. Those two put on a show in the 1989 Preakness similar to I’ll Have Another and Bodemeister, with Sunday Silence just getting the nose win over his chestnut rival.

In the Belmont Stakes, though, Sunday Silence fell short as the 1 1/2-mile distance of the “Test of the Champion” proved too far. I’ll Have Another has thus far proven capable of finding more as the distances have increased and could complete one of the toughest challenges in American sports by adding the Belmont to his resume on June 9.

I’ll Have Another began his career last July at Hollywood Park, breaking his maiden on the synthetic Cushion Track by three parts of a length. He followed up with a second while making his stakes debut in the Grade II Best Pal Stakes on Del Mar’s all-weather Polytrack, then shipped cross-country to New York to try a conventional dirt track in the Grade I Hopeful Stakes at Saratoga. The Flower Alley colt was unable to challenge that day after running wide throughout, ending up sixth, and called it a campaign for his juvenile season.

I’ll Have Another returned five months later to take the Grade II Robert B. Lewis Stakes by 2 3/4 lengths at Santa Anita and is now undefeated this year from four total starts. After the Lewis came a nose win in the Santa Anita Derby, and the chestnut colt overhauled Bodemeister in the Kentucky Derby to win that classic event by 1 1/2 lengths.

Bred in Kentucky by Harvey Clarke, I’ll Have Another is out of the winning Arch mare Arch’s Gal Edith and comes from the family of Grade I winners Roanoke and Into Mischief. He counts as his fifth dam the influential matron Patelin, ancestress of champion Pleasant Stage and such Grade I winners as A Phenomenon, Seattle Meteor, Pillaster and Class Play.

Hillsides Charity Event/2012 Mercedes-Benz Dealer Championships

Complete the RSVP form and mail it to Hillsides, 940 Avenue 64, Pasadena, CA 91105. For more information contact Carrie Espinoza at (323) 255-9005, ext. 254 or emailcespinoza@hillsides.org

Mercedes-Benz Tennis Tournament RSVP Card

Foreclosure activity hits lowest level since Q4 2007

RealtyTrac warns distressed-property ‘dam … will eventually burst’

BY INMAN NEWS, THURSDAY, APRIL 12, 2012.

Inman News®

<a href="http://www.shutterstock.com/gallery-449740p1.html">Foreclosed home image</a> via Shutterstock.Foreclosed home image via Shutterstock.

Foreclosure filings hit their lowest level in more than four years in the first quarter, according to a report from foreclosure data aggregator RealtyTrac.

Default notices, scheduled auctions, and bank repossessions were filed on 572,928 properties in the first quarter, or one in every 230 U.S. housing units — the lowest number of filings since fourth-quarter 2007, when 527,740 properties received filings.

Last quarter’s foreclosure activity was down 2 percent from the fourth quarter and 16 percent from first-quarter 2011. March accounted for nearly 38 percent of the quarter’s foreclosure activity, with 198,853 properties receiving filings. That was the lowest monthly total and the first under 200,000 since July 2007, the report said.

On an annual basis, foreclosure activity fell 17 percent in March.

“The low foreclosure numbers in the first quarter are not an indication that the massive reservoir of distressed properties built up over the past few years has somehow miraculously evaporated,” said Brandon Moore, RealtyTrac’s CEO, in a statement.

“There are hairline cracks in the dam, evident in the sizable foreclosure activity increases in judicial foreclosure states over the past several months, along with an increase in foreclosure starts in many judicial and nonjudicial states in March.

“The dam may not burst in the next 30 to 45 days, but it will eventually burst, and everyone downstream should be prepared for that to happen — both in terms of new foreclosure activity and new short-sale activity.”

States that use the nonjudicial foreclosure process lead the nationwide decline in foreclosure activity, RealtyTrac said. Those 24 states and Washington, D.C., saw foreclosure activity drop 8 percent from the fourth quarter and 28 percent from first-quarter 2011.

Several nonjudicial states saw significant year-over-year drops in activity in the first quarter: Arkansas (79 percent), Nevada (62 percent), Washington (55 percent), Arizona (41 percent), Texas (31 percent), and California (21 percent).

By contrast, foreclosure activity rose 8 percent quarter to quarter and 10 percent year over year in the 26 states that mainly use the judicial foreclosure process.

Judicial states that posted some of the biggest annual increases include Indiana (45 percent), Connecticut (38 percent), Massachussetts (26 percent), Florida (26 percent), South Carolina (26 percent), Pennsylvania (23 percent).

Source: RealtyTrac.

Foreclosure starts, which include default notices or scheduled auctions depending on the state, rose for the third straight month in March, up 7 percent from February, though still down 11 percent year over year.

Foreclosure starts increased on a monthly basis in 31 states, with the biggest jumps in Nevada (153 percent), Utah (103 percent), New Jersey (73 percent), Maryland (53 percent), and North Carolina (47 percent).

Nevada posted the nation’s highest foreclosure activity rate last quarter, with one in 95 units receiving a filing — a 62 percent year-over-year drop.

California had the second-highest foreclosure activity rate (1 in 103 units), followed by Arizona (1 in 106 units).

Top 10 states with the highest foreclosure rates

Area Foreclosure rate (Q1 2012)
U.S. 1 in 230 housing units
Nevada 1 in 95
California 1 in 103
Arizona 1 in 106
Georgia 1 in 119
Florida 1 in 123
Illinois 1 in 141
Michigan 1 in 162
Colorado 1 in 191
Utah 1 in 198
Wisconsin 1 in 206

Source: RealtyTrac

California metro areas accounted for 12 of the 20 metros with the highest foreclosure rates in the nationa in the first quarter, including eight of the top 10.

20 U.S. metros with the highest foreclosure rates

Metro area Foreclosure rate (Q1 2012)
Stockton, Calif. 1 in 60 housing units
Modesto, Calif. 1 in 60
Riverside-San Bernardino-Ontario, Calif. 1 in 62
Vallejo-Fairfield, Calif. 1 in 63
Merced, Calif. 1 in 72
Sacramento–Arden-Arcade–Roseville, Calif. 1 in 77
Bakersfield, Calif. 1 in 81
Las Vegas-Paradise, Nev. 1 in 82
Phoenix-Mesa-Scottsdale, Ariz. 1 in 87
Visalia-Porterville, Calif. 1 in 89
Atlanta-Sandy Springs-Marietta, Ga. 1 in 90
Fresno, Calif. 1 in 92
Miami-Fort Lauderdale-Pompano Beach, Fla. 1 in 95
Oxnard-Thousand Oaks-Ventura, Calif. 1 in 97
Orlando-Kissimmee, Fla. 1 in 101
Rockford, Ill. 1 in 104
Chicago-Naperville-Joliet, Ill.-Ind.-Wis. 1 in 107
Chico, Calif. 1 in 111
Prescott, Ariz. 1 in 113
Santa Rosa-Petaluma, Calif. 1 in 113

Source: RealtyTrac.

From start to finish, the foreclosure process took an average of 370 days to complete nationwide, up from 348 days in the fourth quarter — the highest average in the past five years, according to RealtyTrac.

Some key states are seeing foreclosure timelines decrease, however. In California, the average was 320 days, down from 352 days in the fourth quarter.

Colorado, Utah, Massachusetts, Nevada, Michigan and Maryland also saw declines.

The five states with the longest foreclosure timelines were New York (1,056 days), New Jersey (966 days), Florida (861 days), Illinois (628 days), and Maryland (618 days).