Posts Tagged ‘escrow’

SILVAR President Tonna says Internet, Education key for Today’s Home Buyers

August 24th, 2014 Comments off

silvar-president-david-tonna-senator-feinstein-constituent-breakfast-posted-daily-business-news-mhmsm-com-David Tonna, President of the Silicon Valley Association of Realtors (SILVAR), is on a mission to educate today’s home buyers, MercuryNews  tells  MHProNews. Some 90% of all home buyers begin their home shopping online. Most search for a property for 6 months before they contact a real estate agent. But home buying is more than facts found online, because there is both information and misconceptions found on the web.

Tonna says he spends no less than 90 minutes with a future buyer upon their first meeting. He says, “Homeownership is an investment in your future and offers immediate benefits and long-term value. Realtors are trusted resources for the most up-to-date, comprehensive and accurate real estate information because they know the communities, see many homes and can help buyers successfully navigate the increasingly complex buying process.”

Buyers are asked to describe their ideal home, lifestyle, schooling needs, commute goals and their location/community amenities. Tonna presents buyers with a bound manual outlining the buying process, including the complexity of their home search, offer(s), escrow, contingencies and closing. Then they go over forms the buyers will encounter. “This process takes the mystery out of home purchasing,” Tonna stated.

Tonna notes the internet may bring international buyers. He also contends that Realtors ® do more than generic real estate agents or online information alone, because websites can’t replace a Realtor ®. “The process I describe illustrates that Realtors are not simply order takers for properties they found on the Internet and visited at an open house. It raises the level of our professionalism in our industry,” says Tonna.

SILVAR and Tonna stay politically engaged as well, he’s pictured above at California’s U.S. Senator Dianne Feinstein constituent breakfast.

As regular MHProNews readers know, many of these same points apply to manufactured and modular housing. The need for professionalism routinely starts with a good online engagement strategy, but must include trained and motivated professionals who deal with prospective buyers with an appealing customer service and education approach. Given the widespread misinformation about manufactured homes, more best practices methods and online engagement must take place to attract increasing numbers of qualified home buyers. ##

(Photo credit: SILVAR)

City Council Votes to Refuse Conversion

July 22nd, 2013 Comments off

The Costa Mesa (Calif.) City Council voted 4-0 to deny changing the Rolling Homes manufactured housing community from general commercial to high-density residential for the development of a 208-unit apartment complex. An amendment to the city’s General Plan would be needed to change the 55-site community of seniors, who said they were never notified by anyone of plans to possibly close the community. Pat Helgeson, a representative for would-be developer Province Group, says the community’s land is in escrow and will be sold. He notes the property is currently worth $478,000, but says with the apartment complex the value would be $50 million. As dailypilot informs MHProNews, Costa Mesa Mayor Jim Righeimer says the city cannot force Rolling Homes to close, and that conversion is a “long, arduous process.”

(Photo credit: Sunny Oaks Community)

Legislative Update—U.S. House of Representatives

May 28th, 2013 Comments off

From the Manufactured Housing Institute (MHI)’s newsletter MHProNews learns Rep. Blaine Luetkemeyer (R-MO), a member of the House Financial Services Committee, has introduced the Community Lending Enhancement and Regulatory Relief Act (CLEAR Act). H. R. 1750 is designed to help smaller financial institutions obtain capital and provide loans to their clients. The newsletter says: “Among the changes included in the bill is an increase from $500 million to $5 billion in the threshold included in the Federal Reserve’s Small Bank Holding Company capital guidelines, relief from escrow requirements, mortgage relief for loans held in portfolio and an increase in the smaller servicer exemption threshold from 5,000 to 20,000 loans.”

(Image credit: Manufactured Housing Institute)