21st Century Building Expo--2009

Chad and I traveled to Charlotte this week to attend the 21st Century Building Expo which is a trade show and conference, hosted by the NC Home Builders Association. Attendees have the opportunity to see all the latest and greatest finishes, techniques and products available for the home building industry. There were also sales and certification classes being offered during this annual show.

The first special event of the Expo was the STARS Award ceremony where many deserving awards were given to our members. These awards included categories such as exemplary marketing brochures and ads, well designed housing communities, special community projects by local HBA's, and associate of the year, to name a few.

The highlight of the evening for me, was for Chad to be honored with the STARS award for the Best Single Family Detached Home in the sales price category of $250,000-$500,000. He works hard everyday to support his family and to give back to his community and he certainly deserves this recognition with which our industry has honored him. I'm proud of my husband.

Effective Techniques to Expedite Short Sales

Interested in learning more about the Short Sale process? Then join this audio conference:
Effective Techniques to Expedite Short Sales
Aug. 18, 2009 / 2:00 to 3:30 PM Eastern time

Register by Aug. 7, 2009 for an Early Bird Discount; cost is $127 with the discount, $159 if you register after Aug. 7. Registration Link: http://eventcallregistration.com/reg/index.jsp?cid=974201t11

Find out what you need to know first-hand from Wells Fargo and Bank of America, the mortgage servicers with the greatest impact on short sales:
How to get faster answers on short sale offers to buy residential properties.
Key elements of the short sale approval process at major mortgage servicers.
Which potential short sale listings to take and which to avoid.

These panelists will provide critical information and insights:
Joe Ohayon, Vice President for Community and Client Relations, Default and Retention Operations, Wells Fargo Home Mortgage
David Knight, Senior Vice President of Specialty Servicing for Default and Retention Operations, Wells Fargo Home Mortgage
Kimberly Dawson, Vice President-Group Operations Manager, Foreclosure and Real Estate Management, Bank of America
Thomas Popik, Director, Mortgage Industry Research, Campbell Surveys
Ryan Wright, President, The Wright Team Real Estate Professionals
Guy Cecala, Publisher, Inside Mortgage Finance (moderator).

Verbal Graffiti

I had the pleasure of attending the HBA's Triangle Sales and Marketing Council monthly breakfast this morning where two communication experts/journalists--Sharon Delaney and Kim Dean--offered insight into the world of journalism where perception is reality and the importance of first impressions.

They gave us a handful of practical tips should we ever find ourselves being interviewed by a journalist. They suggested that we try to anticipate questions that could be asked in an interview and practice your answers.

As I drove to my next meeting I thought, that can be carried through to all aspects of your life as we relate to those around us.

Having a concise, one sentence statement and a couple of supporting sentences that back up your statement is great when you're in a networking situation or if you just met someone at a social occasion. You could be talking about your career, your family, or your interests.

Being a parent of two boys, I can affirm that brief and simple statements are the key when trying to convey my thoughts to them. My husband appreciates the same communication style...I definitely would not want to be accused of dragging a point out or nagging. I would never do that.

Oh and I picked up a new term, 'Verbal Graffiti' which is the 'um, you know, like' of our every day speech--which should be eliminated as much as possible. I will work on that one too.

Professional Women in Building Networking Event--July 9th

Join us this Thursday, July 9th, at Nantucket Cafe--Fayetteville Rd--in Durham, for our monthly networking event. Time is 4:30-6PM.

The Professional Women in Building Council of the Durham, Orange, Chatham Home Builders Association, is a group of members who is focused on partnering with our local schools to make students more aware of the career opportunities available in the building industry. We also partner with Habitat for Humanity to make home ownership a possibility for many families in the Triangle.

Won't you come to the networking event to share what is it you do and how we can help you grow your business? We are a group interested in succeeding in our careers and giving back to our communities.

Contact Penny Paskoff for questions: 919-489-8899.

Regulations Affect Real Estate Closing Timelines

Beginning this summer, there will be new regulations affecting the timelines of our real estate closings. These regulations and how they are being implemented center around the Annual Percentage Yield (APR) that is listed on the Truth in Lending statement and the appraisal reports.

You will hear the regulations referred to as:

HERA--Housing & Economic Recovery Act

HOEPA--Home Ownership & Equity Protection Act

HVCC--Home Valuation Code of Conduct.

Here's the breakdown as it will affect your everyday transactions...

There will be mandatory waiting periods put in place so our consumers can review their documents--the TIL and appraisal most notably--at several intervals of the loan process. This ensures that the consumers fully understand the details of their loan terms and the real estate transaction itself. Lenders also may have a waiting period on when they may collect upfront appraisal fees.

It's not so important that you know exactly how it all works or how many days or when we will have to wait, etc.

What is important:

• It will take 30 days to complete the loan process, so that means the close date should be between 35-40 days from your effective date of the contract.


• The buyer should do their shopping/review with lenders in advance of making an offer on a property. It's not just about going to a loan officer and having them pull credit for a prequalification. They should know what loan program they will be eligible for, exactly how much down payment they have available, the loan officer should collect and review their income documents.


• An increase of the APR by more than .125% could cause the closing to be delayed, if changes occur late in the loan process.

Given the new regulations, timing will be more critical than ever and we must insist on timely action of our buyers/borrowers and our partners in the transaction.

Credit isn't quite as easy as it once was, so we must help our buyers understand the importance of doing their mortgage financing homework upfront and working to honor their purchase contract that they have entered into.

National Association of Home Builders Professional Women in Building

'The name change is approved!

Did you know that the Women's Council Board of Trustees voted to change the Council's name to the NAHB Professional Women in Building Council at last week's meeting? Our next steps are to file the change officially and to request an NAHB bylaws change at Fall Board.'

No, we are not a women's auxiliary. I do very much respect the council's history and the pride that our women have had in serving NAHB. Thank you ladies for paving the way to where we are today!

The times have changed and we are movers in our industry. We are builders, bankers, planners, marketers, designers, architects, etc.

You can thank us later. History is known for the afterthought...

http://www.nahb.org/page.aspx/category/sectionID=467

Blessings

We have all had blessings in our lives. The blessings that you don't realize at the time, but you realize later. They're everywhere. Really. Our lives generally center around ourselves, but if you stop to think about where it really comes from...uuummmm. No doubt about it. He's there and always with us.