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MVP'08
- 904 Answers
- 42 Best Answers
- 170 First Answers
- 1062 Useful Answers
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About Me
Roseville, Rocklin, Lincoln, Sheridan, Citrus Heights, Carmichael Granite Bay, Loomis,
Web email: Roseville.Foreclosure.Realtor@gmail.com
Additional service areas: Sacramento, Antelope, Fair Oaks, Orangevale, Folsom, Newcastle, Auburn, Penryn, Pollock Pines, Placerville, Shingle Springs, El Dorado Hills, Cameron Park, Rescue, Lotus, Cool, Herald, Wilton, Elk Grove
- phone 916-772-1212, cell phone 916-797-6794. email roseville.foreclosure.realtor@gmail.com
1st American Realty 5740 Windmill Way, Suite One, Carmichael, Ca 95608
My other blogs http://www.propertyqube.com/index.cfm?keyWord=View%20Profile&id=726
http://www.merchantcircle.com/business/1st.American.Realty.2.916-973-0136
Other 1AR locations: http://www.1ar.com/company.php
Easy Mortgage Calculator: http://www.realestate-pds.com/finMortgageCal.html
Roseville MLS Search - no registration needed http://www.metrolistmls.com
City of Roseville: http://www.roseville.ca.us/
Roseville neighborhood newsletters: http://www.rcona.com/
Roseville Press Tribune: http://www.rosevillept.com/
Diamond Creek Elementary School: http://www.rcsdk8.org/buildings/d_creek/index.htm
Roseville High School: http://rhs.rjuhsd.k12.ca.us/news.php
Star Testing Results: http://star.cde.ca.gov/
Academic Performance index for California Schools: http://www.cde.ca.gov/ta/ac/ap/
California Department of Education: http://www.cde.ca.gov/index.asp
California Department of Education Statistics: http://www.cde.ca.gov/ds/
Dept of Justice - megans law site: http://meganslaw.ca.gov/
California Department of Real Estate: http://www.dre.cahwnet.gov/
California Association of Realtors: http://www.car.org/
FEMA Flood Insurance FAQs: http://www.floodsmart.gov/floodsmart/pages/faq_types.jsp
U.S. Small Business Administration (SBA Loans) http://www.sba.gov/services/financialassistance/SpecialPurposeLoans/index.html
Frequently Asked Questions - Commercial Real Estate Leasing: http://www.officespace.com/FAQ.cfm
Commercial Property sales and leases http://www.loopnet.com/xNet/MainSite/Listing/Search/?linkcode=30
John T. Reed on Ethics and suitability in Real Estate Transactions: http://www.johntreed.com/suitability.html
Sacramento Real Estate Statistics: http://sacrealstats.blogspot.com/
Data Quick Statistics: http://www.dqnews.com/
San Francisco Blog "Socket site" : http://www.socketsite.com/
Trulia Blog: http://www.truliablog.com/
What happens in Vegas?: http://activerain.com/william
What you need to know about lease options by John T. Reed: http://www.johntreed.com/leaseoption.html
Rental Property Management sites: http://www.rentalprop.com/
Sacramento Rental Rates: http://www.homepointe.com/owner_services_rental_survey.asp
PM Blog: http://mbrewer.typepad.com/property_management/2007/11/raise-rent-in-a.html
Bearded economists blog: http://econospeak.blogspot.com/
Residential Sales, Listings and Loans.
I am an experienced, skilled professional with expertise in multiple areas of new home and resale home sales, lot sales, condominium sales, income property sales including exchanges, listing and selling foreclosures and short sales, relocations, working with builders, tradespeople, buyers and sellers, coordinating with colleagues in the escrow, appraisal, lending, inspecting and repair industries.
I have mortgage loan experience in loan servicing,loan modifications, funding, document preparation, processing, underwriting, origination, FHA, VA and conventional. Related experience includes property management, collections, financial product sales, consumer lending, credit card merchant services, home and business disaster assistance lending. I am committed to customer satisfaction.
Web email: Roseville.Foreclosure.Realtor@gmail.com
Additional service areas: Sacramento, Antelope, Fair Oaks, Orangevale, Folsom, Newcastle, Auburn, Penryn, Pollock Pines, Placerville, Shingle Springs, El Dorado Hills, Cameron Park, Rescue, Lotus, Cool, Herald, Wilton, Elk Grove
- phone 916-772-1212, cell phone 916-797-6794. email roseville.foreclosure.realtor@gmail.com
1st American Realty 5740 Windmill Way, Suite One, Carmichael, Ca 95608
My other blogs http://www.propertyqube.com/index.cfm?keyWord=View%20Profile&id=726
http://www.merchantcircle.com/business/1st.American.Realty.2.916-973-0136
Other 1AR locations: http://www.1ar.com/company.php
Easy Mortgage Calculator: http://www.realestate-pds.com/finMortgageCal.html
Roseville MLS Search - no registration needed http://www.metrolistmls.com
City of Roseville: http://www.roseville.ca.us/
Roseville neighborhood newsletters: http://www.rcona.com/
Roseville Press Tribune: http://www.rosevillept.com/
Diamond Creek Elementary School: http://www.rcsdk8.org/buildings/d_creek/index.htm
Roseville High School: http://rhs.rjuhsd.k12.ca.us/news.php
Star Testing Results: http://star.cde.ca.gov/
Academic Performance index for California Schools: http://www.cde.ca.gov/ta/ac/ap/
California Department of Education: http://www.cde.ca.gov/index.asp
California Department of Education Statistics: http://www.cde.ca.gov/ds/
Dept of Justice - megans law site: http://meganslaw.ca.gov/
California Department of Real Estate: http://www.dre.cahwnet.gov/
California Association of Realtors: http://www.car.org/
FEMA Flood Insurance FAQs: http://www.floodsmart.gov/floodsmart/pages/faq_types.jsp
U.S. Small Business Administration (SBA Loans) http://www.sba.gov/services/financialassistance/SpecialPurposeLoans/index.html
Frequently Asked Questions - Commercial Real Estate Leasing: http://www.officespace.com/FAQ.cfm
Commercial Property sales and leases http://www.loopnet.com/xNet/MainSite/Listing/Search/?linkcode=30
John T. Reed on Ethics and suitability in Real Estate Transactions: http://www.johntreed.com/suitability.html
Sacramento Real Estate Statistics: http://sacrealstats.blogspot.com/
Data Quick Statistics: http://www.dqnews.com/
San Francisco Blog "Socket site" : http://www.socketsite.com/
Trulia Blog: http://www.truliablog.com/
What happens in Vegas?: http://activerain.com/william
What you need to know about lease options by John T. Reed: http://www.johntreed.com/leaseoption.html
Rental Property Management sites: http://www.rentalprop.com/
Sacramento Rental Rates: http://www.homepointe.com/owner_services_rental_survey.asp
PM Blog: http://mbrewer.typepad.com/property_management/2007/11/raise-rent-in-a.html
Bearded economists blog: http://econospeak.blogspot.com/
Residential Sales, Listings and Loans.
I am an experienced, skilled professional with expertise in multiple areas of new home and resale home sales, lot sales, condominium sales, income property sales including exchanges, listing and selling foreclosures and short sales, relocations, working with builders, tradespeople, buyers and sellers, coordinating with colleagues in the escrow, appraisal, lending, inspecting and repair industries.
I have mortgage loan experience in loan servicing,loan modifications, funding, document preparation, processing, underwriting, origination, FHA, VA and conventional. Related experience includes property management, collections, financial product sales, consumer lending, credit card merchant services, home and business disaster assistance lending. I am committed to customer satisfaction.
Testimonials
"Dear Jim,
I want to thank you again for doing such a good job. You are a great real estate agent & very thorough. I have appreciated all your effort on these difficult transactions.
Many thanks"
Doreen Harrison Thu Nov 30, 1995
Doreen Harrison Thu Nov 30, 1995
"Dear Jim,
Lance & I wanted to thank those who made 93' such a special year for us. We appreciated all of your hard work & dedication to provide us with a home loan. It means a lot when someone goes an extra mile these days. We thank you again and hope 94' will be equally bright for us all. Best Regards"
Lance & Tami West Mon Dec 20, 1993
Lance & Tami West Mon Dec 20, 1993
"Jim and Jeni Walker are exceptional representatives of your company. Their diligence and expertise in helping me locate and purchase my home made the whole process a joy.I can't say enough good things about the service they provided me. Thank you!"
Jim Delong Thu Jan 23, 1997
Jim Delong Thu Jan 23, 1997
"Praise for Jim Walker - He straightened out all my tax problems after 1 and 1/2 years with IMCO. Jim got straight to the problem, got the information straight & solved this for me. After 1 and 1/2 years I feel like opening a bottle of champagne to celebrate""
James Lupton Mon Jan 28, 1991
James Lupton Mon Jan 28, 1991
My Q&A
View all >>
Jim Walker's Questions (43)
Jim Walker's Answers (904)
Jim Walker answered:
Short sale is a hoodwink. I will let my MLS statistics tell you the story.. In the 16 months - Jan 1 2007 to May 1st 2008 there have been 57 successfully closed short sales in the Elk Grove zip codes 10757, 10758 and 10624. Sounds pretty good, huh? There are also 85 pendings.. Wow, oh that is so much better huh? So how many failed? well the count is 222 active, and 537 expired or withdrawn short sales. in the same period.
I'll do the math for you out of 1011 listings, 57 of them sold Almost SIX PERCENT. Another 8.5% are pending, and pending, and expired pending, and pending some more. Most of those pendings will fail.
Sorry, but true. You think my math is too pessimistic?. OK lets just compare solds to expireds and withdrawns that is still 9 failed listings for every sold listing.
What you and all of us Realtors should do is get the word out that 90% of the short sale market is a hoodwink. if the banks wanted a higher success rate they could get it done in a snap. There are hundreds of thousands of former mortgage and real estate worker bees with the skills to process these loss mitigations. The banks don't want to hire anyone. The banks want these deals to linger.
Don't assume that the banks realize their stupidity and intransigence (at the management level - I don't blame the worker bees ) will wind up costing them extra billions in the long run.
I'll do the math for you out of 1011 listings, 57 of them sold Almost SIX PERCENT. Another 8.5% are pending, and pending, and expired pending, and pending some more. Most of those pendings will fail.
Sorry, but true. You think my math is too pessimistic?. OK lets just compare solds to expireds and withdrawns that is still 9 failed listings for every sold listing.
What you and all of us Realtors should do is get the word out that 90% of the short sale market is a hoodwink. if the banks wanted a higher success rate they could get it done in a snap. There are hundreds of thousands of former mortgage and real estate worker bees with the skills to process these loss mitigations. The banks don't want to hire anyone. The banks want these deals to linger.
Don't assume that the banks realize their stupidity and intransigence (at the management level - I don't blame the worker bees ) will wind up costing them extra billions in the long run.
Jim Walker answered:
HooRay and Hurrrah for Nathan !! The anecdote you passed along is much more illuminating than the false hype and false hope that the media, the banks, the short sale listing agents have been promoting for months.
Statistically, fewer than one in ten short sale listings are ever approved. With a failure rate that high, I can only say that the whole short sale mania is a massive hoodwink.
Statistically, fewer than one in ten short sale listings are ever approved. With a failure rate that high, I can only say that the whole short sale mania is a massive hoodwink.
Eddie, since you are a lender yourself, how would you feel if your borrower (the family member) decided to stiff you on the debt and let you have the security they pledged to you instead of the $50,000 ? - No security? - Well how about the piece of paper they signed or the handshake.
You made 2 promises to pay the first and the second as a borrower. You should feel no guilt if it is truly impossible to pay it back. - However, if you have the choice of paying or not, you may want to ask yourself where your personal ethical code guides you, as well as considering the financial aspects.
As far as life after foreclosure... There may not be as many sub-prime lenders milling about willing to lend to people who are coming right out of foreclosure. A lot of those kind of lenders have gone or are going BK themselves. Think about the strong possibility you might be a renter for the next few years. As a renter you might miss out on real estate appreciation when the pendulum of housing prices swing back up over the next few years.
If you are able to get a post foreclosure loan, think about double digit interest rates. That is what (hard money) lenders charge for very high risk borrowers. ( Which is what you will become) 11 -12% or more.
Why do you think they call it hard money?
You made 2 promises to pay the first and the second as a borrower. You should feel no guilt if it is truly impossible to pay it back. - However, if you have the choice of paying or not, you may want to ask yourself where your personal ethical code guides you, as well as considering the financial aspects.
As far as life after foreclosure... There may not be as many sub-prime lenders milling about willing to lend to people who are coming right out of foreclosure. A lot of those kind of lenders have gone or are going BK themselves. Think about the strong possibility you might be a renter for the next few years. As a renter you might miss out on real estate appreciation when the pendulum of housing prices swing back up over the next few years.
If you are able to get a post foreclosure loan, think about double digit interest rates. That is what (hard money) lenders charge for very high risk borrowers. ( Which is what you will become) 11 -12% or more.
Why do you think they call it hard money?
Jim Walker answered:
That is not enough information. Don't be shy. What is the MLS number?
Jim Walker answered:
Hi John,
I am surprised that the appraisers did not explain that after they find the comps, they must adjust for qualitative and quantitative differences.
You cannot expect a computer program to use all the variables that influence buyers perception of home value. Web based computer programs can give a value range, with a statistical margin of error.
A human appraiser (or real estate agent) can use human insights and knowledge to further calibrate the value range.
I saw the Heritage Oaks and Sun City Communities built from the dirt up. When new, they carried a premium price over similar sized Silverado homes nearby. Premium value still exists for Heritage Oaks and St. Andrews over the closest neighborhoods. If there are not enough recent sales right inside Heritage Oaks to draw comps from, then it is fair to use the nearby comps, however adjustments must be made for lot size, quality of design and construction, current condition, and the other factors you cited. . So your house should not be devalued to be on par with the older less desirable houses. However, do not get too excited and expect a huge premium. Your house is probably worth more than the average Elliot built Silverado home of the same size, but not $100,000 more.
It will be a buyer, competing with other buyers, comparing your houses to others in their buying price range who actually determines the value, not an agent, appraiser or computer program.
I am surprised that the appraisers did not explain that after they find the comps, they must adjust for qualitative and quantitative differences.
You cannot expect a computer program to use all the variables that influence buyers perception of home value. Web based computer programs can give a value range, with a statistical margin of error.
A human appraiser (or real estate agent) can use human insights and knowledge to further calibrate the value range.
I saw the Heritage Oaks and Sun City Communities built from the dirt up. When new, they carried a premium price over similar sized Silverado homes nearby. Premium value still exists for Heritage Oaks and St. Andrews over the closest neighborhoods. If there are not enough recent sales right inside Heritage Oaks to draw comps from, then it is fair to use the nearby comps, however adjustments must be made for lot size, quality of design and construction, current condition, and the other factors you cited. . So your house should not be devalued to be on par with the older less desirable houses. However, do not get too excited and expect a huge premium. Your house is probably worth more than the average Elliot built Silverado home of the same size, but not $100,000 more.
It will be a buyer, competing with other buyers, comparing your houses to others in their buying price range who actually determines the value, not an agent, appraiser or computer program.
Jim Walker answered:
Some banks won't do it, some banks will. Find a house you like, make an offer, if they say no, they will say no before you spend money on an appraisal and home inspection. If they say no. find a different house and a different owner. If they say yes, then fine.
Specialties
I am an experienced, skilled professional with expertise in multiple areas of new home and resale home sales, lot sales, condominium sales, income property sales including exchanges, listing and selling foreclosures and short sales, relocations, working with builders, tradespeople, buyers and sellers, coordinating with colleagues in the escrow, appraisal, lending, inspecting and repair industries.
I have mortgage loan experience in loan servicing,loan modifications, funding, document preparation, processing, underwriting, origination, FHA, VA and conventional. Related experience includes property management, collections, financial product sales, consumer lending, credit card merchant services, home and business disaster assistance lending. I am committed to customer satisfaction
I have mortgage loan experience in loan servicing,loan modifications, funding, document preparation, processing, underwriting, origination, FHA, VA and conventional. Related experience includes property management, collections, financial product sales, consumer lending, credit card merchant services, home and business disaster assistance lending. I am committed to customer satisfaction
Experience
Latest:
Realtor for 1st Amercian Realty
I provide reliable advice to my clients on the purchase and sale of owner occupied and investment property.
property searches, showings, offer strategy and negotiation are handled expertly, followed up with skillful transaction management to achieve a successful close of escrow.
January 2003—present
Previous:
Loan Officer for United States Small Business Administration
Originated and Modified Disaster Business Loans and Disaster Home Loans to victims recovering from hurricanes, earthquakes and tornadoes
September 2005—November 2006
Previous:
Realtor for 1st Amercian Realty
I provide reliable advice to my clients on the purchase and sale of owner occupied and investment property. property searches, showings, offer strategy and negotiation are handled expertly, followed up with skillful transaction management to achieve a successful close of escrow
January 2003—September 2005
Previous:
Loan Officer for United StatesSmall Business Administration
Originated and Modified Disaster Business Loans and Disaster Home Loans to victims recovering from hurricanes, earthquakes and tornadoes
April 2001—September 2001
Previous:
Loan Officer for Small Business Administration
Originated and Modified Disaster Business Loans and Disaster Home Loans to victims recovering from hurricanes, earthquakes and tornadoe
October 1999—December 1999
Certifications & Awards
Trulia Century Award Winner:
Awarded to Jim Walker by Pete Flint CEO of, co Founder of Trulia and Sami Inkinen COO and Co-Founder of Trulia - August 17th 2007
Awarded to Jim Walker by Pete Flint CEO of, co Founder of Trulia and Sami Inkinen COO and Co-Founder of Trulia - August 17th 2007
Interests
Blogging: yeah that is pretty obvious.
Family, yeah I know everyone says that, but I really like mine best.
Poker, I've learned a lot about people from that game. The experience in small stakes poker helped me understand high stakes real estate negotiations from a lot of different perspectives.
TV shows: Lost, Desperate Housewives, Countdown with Keith Olberman, Antiques Roadshow, Nova, Frontline, American Experience on PBS. the Simpsons, and Futurama,
Family, yeah I know everyone says that, but I really like mine best.
Poker, I've learned a lot about people from that game. The experience in small stakes poker helped me understand high stakes real estate negotiations from a lot of different perspectives.
TV shows: Lost, Desperate Housewives, Countdown with Keith Olberman, Antiques Roadshow, Nova, Frontline, American Experience on PBS. the Simpsons, and Futurama,
Homes I have shown recently
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