Some of Arizona’s most Successful Agents call John Hall & Associates home.
Monthly Archives: June 2008
Did you see the ARMLS interview on the news this morning?
Bob Bemis, CEO for ARMLS had the pleasure of speaking with Channel 12 news this morning at 5:40 and 6:40. They stopped by to ask how the Phoenix housing market is doing. Bemis commented on the declining prices, high pending sales, and shrinking inventory. He also talked about the highest priced listing in ARMLS – any guesses of the price?
Here’s the video. (Update: Video has been removed.)
Is the AZ real estate commish reading our blog?
Sam Wercinski signed a new Substantive Policy Statement this month that took effect June 18, 2008. It covers the actions the Department is going to take in the event a licensed real estate agent is convicted of Residential Mortgage Fraud. Not only does the SPS cover the intended actions, it also provides recommendations to keep you out of jail. Straight from the Statement…
The Department recommends that a licensee who provides a premium, credit, or rebate in a real estate transaction disclose the premium, credit, or rebate to all parties in the transaction, including the lender and third-party service providers, such as appraisers, in the purchase agreement and the HUD-1 statement (or other writing if no HUD-1 is required).
Good advice! And strangely similar to Jim Sexton’s last post.
Another associate in the news!
Benjamin Little, REALTOR® with John Hall & Associates, was interviewed early this week for an article about pets in properties for sale. Ben was able to share situations when pets can be a positive (horses or fish) and when they can be a negative (overly friendly or smelly).
Congratulations on the publicity Ben!
LandAmerica has their flexmls® Web training classes all scheduled.
After playing with flexmls for about a week, we need to re-emphasize the importance of signing up for some flexmls training sessions. Being that this is a new system with many more bells and whistles than Marketlinx, our fear is that you may get frustrated attempting to do some basic functions. That’s why it is our recommendation to attend training classes as soon as possible. Your login is suppose to go live next week, and so is the training done by LandAmerica.
After speaking with Cynthia Lujan, we learned that LandAmerica is teaching a 100-minute beginners class (similar to ARMLS) repeatedly all around the valley starting on June 30th. Not only will they have access to the same handouts ARMLS has, they have made some of their own. For example, here is their Saved Search Worksheet. Each of their trainers will also be providing support for the new system starting June 30th. ARMLS support will begin July 15th.
Follow the links for the schedules and online sign-up forms.
Flexmls training in Chandler
Flexmls training in Glendale
Flexmls training in Mesa
Flexmls training in Scottsdale
Flexmls training in Surprise
Flexmls training in West Phoenix
Cynthia and her training partner Kathie have set up a blog dedicated to answering questions that come up in the class. Check it out – Flexin’ with LandAmerica.
Jim Sexton’s article “Real Estate Auctions” in the Arizona Republic
It’s an ongoing joke between Jim and I, “Did you see the paper?” he’ll ask, knowing quite well I’m not a newspaper kind of guy. I’m an internet reader - that has recently added watching the morning news to my routine. So I usually respond with something like, “I’m not old enough to read the paper” or “not lately”. Then he continues with extremely important news that I probably should have read about, but that’s what I rely on him for, like he relies on me to bring him technology news.
However, this weekend I was looking for the paper, because the Arizona Republic regularly gives Jim the opportunity to write an article for their Broker’s Corner spot of the real estate section. Sure enough, in Saturdays’ northeast valley run there was Jim’s smiling picture (no it wasn’t his high school photo!) next to the informational article on auctions here in Phoenix.
The Republic doesn’t publish the Broker’s Corner article on the internet, so for all you out there that missed it, or aren’t newspaper kind of people either, here you go.
Insights on Social Media
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pkitano @drubloomfield @irenehammond Hi! I’ll be in PHX Camelback Rd all Thursday afternoon, would love to meet up w/ you (thx to @phoenixreguy) |
Earlier this week, I had the good fortune to receive an invitation (above) to attend a seminar by Pat Kitano on Social Media, how it’s changing the business of real estate, and why it’s important to participate. One of the major points Pat made during his presentation was that a person’s online presence, in services like Twitter and FriendFeed, is the new resume.
Phil Sexton and I have both posted here on Twitter before, but FriendFeed may be new to you. FriendFeed allows you to merge feeds from your blog, Twitter, StumbleUpon, and the many other social media sources into one area. Some of the benefits of FriendFeed include:
- You can follow a conversation, even over a span of time, because comments can be grouped.
- Blog feeds and other network sites can be set up to feed into FriendFeed automatically.
- The room concept creates a room (either public or private) to gather a group of friends to discuss topics has a lot of potential.
Pat has posted the two following slide shows on Social Media, and why it’s important to utilize. Both are highly recommended!
36 Defendants charged for roles in mortgage fraud schemes as part of Operation Cash Back
This intense headline was released this afternoon by the U.S. Attorney’s Office. (h/t: Kerry Melcher) We gave Sandy Raynor (writer of the press release) a call to make sure we could post it in its entirety. We didn’t really want to take our chances with her employer. 
As Sandy gave us the okay, she also talked about the importance of getting the word out there about the mortgage fraud ‘hotline’ email address they have set up. So, if you know of any suspicious mortgage activity past or present, please don’t hesitate to send them an email. Without any further ado…
PHOENIX – The U.S. Attorney’s Office and the Federal Bureau of Investigation (FBI) announced today a takedown of mortgage fraud schemes, the culmination of substantial coordinated efforts during the last three and a half months to identify, arrest and prosecute mortgage fraud violators in Arizona. Operation Cash Back highlights the strong enforcement response undertaken by the U.S. Department of Justice and its law enforcement partners to combat the threat that mortgage fraud poses to the housing industry and credit markets.
From March 1 to June 18, 2008, Operation Cash Back in Arizona resulted in six mortgage fraud cases in which 36 defendants were charged. In the past two days, 30 arrests were made in mortgage fraud-related cases in the Tucson and Phoenix areas. The FBI estimates that approximately $100 million in losses were inflicted by the mortgage fraud schemes employed in these cases.
In Arizona Operation Cash Back represents the collaborative efforts of the U.S. Attorney’s Office, FBI, Internal Revenue Service-Criminal Investigation Division, U.S. Immigration and Customs Enforcement, Department of Housing and Urban Development Office of the Inspector General, U.S. Marshals Service, Arizona Department of Financial Institutions, and the Scottsdale Police Department.
United States Attorney Diane J. Humetewa stated that “The individuals charged in these Arizona indictments are responsible for more than $100 million dollars in fraudulently obtained loans in Arizona. The investigation & prosecution of mortgage fraud is a top law enforcement priority & we are jointly committed to aggressively pursuing those involved in these crimes.”
“Over the last few years with the fluctuation in Arizona’s real estate market, too many individuals associated with this industry have exploited this market for their own personal gain. Innocent homeowners and businesses all across Arizona are paying a steep price for the selfish and illegal acts of others who attempt to capitalize on this market” stated John E. Lewis, Special Agent in Charge, FBI Phoenix. “Mortgage Fraud is similar to other crimes which involve criminals exploiting innocent people and businesses for their own illegitimate gain. The FBI is dedicated to working with our law enforcement partners to combat this problem facing the lawful citizens of our state.”
Operation Cash Back in Arizona is part of the nationwide Operation Malicious Mortgage fraud law enforcement effort. Nationally the Operation resulted in 144 mortgage fraud cases in which 406 defendants were charged. 60 arrests were made in mortgage fraud-related cases in 15 districts. Nationally, the FBI estimates that approximately $1 billion in losses were inflicted by the mortgage fraud schemes.
Mortgage frauds employ a variety of tactics including misrepresentations, deceit and other criminal abuses to fund, purchase or insure mortgage loans. Operation Malicious Mortgage addresses primarily three types of mortgage fraud schemes: lending fraud, foreclosure rescue scams and mortgage-related bankruptcy schemes. Lending fraud frequently involves multiple loan transactions in which industry professionals construct mortgage transactions based on gross fraudulent misrepresentations about the borrower’s financial status, such as overstating the borrower’s income or assets, using false or fictitious employment records or inflating property values. Foreclosure rescue scams involve criminals who target legitimate homeowners in dire financial circumstances and fraudulently collect fees for foreclosure prevention services or obtain ownership interests in residential properties. Both of these fraudulent mortgage schemes may be furthered by filing bankruptcy petitions that automatically stay foreclosure.
Dawn Mertz, Assistant Special Agent in Charge, Internal Revenue Service, Criminal Investigation Division stated that “Mortgage fraud adds to the underground economy that erodes the integrity of our tax system and threatens the financial health of our communities. IRS CI is committed to pursuing individuals who commit these types of crimes.”
Kenneth M. Donohue, Inspector General of the Department of Housing and Urban Development (HUD), stated, “Today is an important milestone in a combined effort by law enforcement and the U.S. Attorney’s Office against mortgage fraud. The Real Estate Settlement Procedures Act (RESPA) was enacted to protect all parties involved in real estate transactions, to including the lenders. These cases involve individual homebuyersand real estate professionals, driven by greed, who falsified closing documents that diverted “cash” to the buyers. Mortgage fraud and white collar crimes – whether aimed at the lender or the borrower – strike at the economic heart of the American system. To the extent that we can uncover and prosecute these activities, it’s to everyone’s benefit. Accordingly, I am happy for the HUD Office of Inspector General to join the U.S. Attorney’s Office in heralding this successful effort.”
“Mortgage fraud is a serious problem in Arizona and we are committed to working with city, state and federal agencies to protect Arizona residents and lenders. I applaud the hard work of the U.S. Attorney’s office, law enforcement and our state agency investigators,” stated Felecia Rotellini, Superintendent, Arizona Department of Financial Institutions. “We will continue to cooperate in the investigations and to pursue administrative actions against our licensees to send the message that mortgage fraud will not be tolerated in Arizona.”
“This case sends an important message about maintaining high standards for the mortgage industry,” stated Alan Rodbell, Chief of the Scottsdale Police Department. “It’s clear how these types of crimes can affect all levels of the community, from the financial industry to neighborhoods and individual homeowners. We are pleased to be part of this collaborative effort.”
An indictment is not evidence of guilt. All persons charged with a crime are presumed innocent until proven guilty beyond a reasonable doubt. The prosecution is being handled by Kevin Rapp, Assistant U.S. Attorney, District of Arizona, Phoenix.
RELEASE NUMBER: 2008-160(Operation Cash Back)
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To report mortgage fraud, send an email to px_cashback@ic.fbi.gov
Sandy Raynor
Public Affairs Officer
U.S. Attorney’s Office
District of Arizona
Office 602.514.7625
Cell 602.525.2681
Fax 602.514.7676
sandra.raynor@usdoj.gov
http://www.usdoj.gov/usao/az/
flexmls® Web Training
Have you signed up for the flexmls training yet? It’s filling up! At yesterday’s train-the-trainers meeting, Barbara Hoffman with ARMLS said they have 6,000 agents signed-up and 18 sessions are already full!
Register now for a session! You don’t want to be caught off guard when the new system goes live on July 28th!
Are you in the market for a Palm Centro?
Thanks to Diane Scherer (our newest contributing author!) we got word that Palm is offering a FREE vehicle charger and carrying pouch when you purchase their Palm Centro from At&T or Sprint. This offer is only for …straight from the flyer…
Real estate agents or real estate associates subscribing to GE Security services in the United States.
That means us real estate agents or associates here in Phoenix – if you are a Supra subscriber. So, if you have bought the Centro between May 15th and December 31st of 2008 fill-out the form, send it in and return the car charger you probably already purchased. 
Department of Real Estate Updates
I was excited to receive in today’s mail Issue #2 of the “periodic” bulletin from ADRE, and since
I have been asked to blog with you, what a good topic… So I went to ADRE’s website to provide you the link here and lo and behold there is even a more recent bulletin, Issue #3, posted on their site. Remember it is your responsibility as a licensee to go online and read their periodic updates.
It is also essential that you log on to ADRE and notify them whenever you move or need to change other personal information. If you haven’t already logged on to view your license information, take a moment to do so. Provide your email address to ADRE and you will be notified just prior to your license expiring. You can also sign up for email updates that are very informative.
Remember the bulletin is not only where disciplinary actions are published but lots of other good educationary materials as well.
Diane Scherer, CEO
Phoenix Association of REALTORS®
Designated Broker Office
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