Closing In On Our Foreclosures How REALTORS® Are Making a Difference in the High Desert Foreclosure Market www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

First Let Me Thank Our Team Victor Valley Association of REALTORS® Executive Officer – Diane Smith VVAR LGR Chair – Debra Ann Peterson, Realty World VVAR Director – Rebecca Otwell, Shear Realty VVAR Member – Kari Leone, Avanti www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

Victor Valley Association of REALTORS® Executive Officer – Diane Smith

VVAR LGR Chair – Debra Ann Peterson, Realty World

VVAR Director – Rebecca Otwell, Shear Realty

VVAR Member – Kari Leone, Avanti

Market Overview – California’s High Desert 4 cities & 1 county Strong local & out of area realty mix Very high foreclosure area Lost many local title offices Less than 2 dozen escrow officers left www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008 Oh, and we’re the area where the bank tore down the “already built luxury development…” Photo from Los Angeles Times

4 cities & 1 county

Strong local & out of area realty mix

Very high foreclosure area

Lost many local title offices

Less than 2 dozen escrow officers left

Common Problem High foreclosure rate Properties get run down Neighbors complain City tries to “regulate” by fining No one can afford fines Bank wont pay fines Properties sit www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008 Photo from Riverside Press Enterprise

High foreclosure rate

Properties get run down

Neighbors complain

City tries to “regulate” by fining

No one can afford fines

Bank wont pay fines

Properties sit

Presenting the Situation We Started With a Basic Premise - “ The best thing for those neighborhoods is to get the properties in the hands of good, responsible owners” From Which We Could ALL Agree www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

We Started With a Basic Premise -

“ The best thing for those neighborhoods is to get the properties in the hands of good, responsible owners”

From Which We Could ALL Agree

Presenting the Impediments Competent Closings Loss of local service providers & contacts Timeline of Foreclosures Most cities are unaware of the dynamics of getting the contract to service foreclosures Effects of Fines Most cities hadn’t considered the effects of delaying closings, WHO is affected, or HOW www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

Competent Closings

Loss of local service providers & contacts

Timeline of Foreclosures

Most cities are unaware of the dynamics of getting the contract to service foreclosures

Effects of Fines

Most cities hadn’t considered the effects of delaying closings, WHO is affected, or HOW

Offer Solutions www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008 So… What Else Can We Do? Funding? Water Conservation? Coordinate & Publicize? Low Interest Loans Redevelopment First Time Homebuyer Program NSP Funds? “ Cash for Grass” Low Flow Promotion Quick Final Bills One Form Fits All City, VVAR & Water Dept. Websites City Brochures & Neighboring AORs Training on “How to find a REALTOR®”

What Has the Response Been? First online forms – Apple Valley Possible use of RDA Funds – Hesperia Available List of Liens – Victorville Coordination of Water & City – Victorville www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008

First online forms – Apple Valley

Possible use of RDA Funds – Hesperia

Available List of Liens – Victorville

Coordination of Water & City – Victorville

VVAR – Closing in On Our FORECLOSURES CHIP AHLSWEDE www.RegalStrategies.com [email_address] (714) 402-1430 www.regalstrategies.com (714) 402-1430 REGAL Strategies © 2008