---WELCOME--- Realty Executives Phoenix April Executive Event Doubletree Paradise Valley Resort April 6, 2011
WHAT’S NEW IN OUR MARKET Steve de Laveaga Senior Vice President Sales & Marketing, FNT Maricopa
2011 The Resale Market- FNT Snapshot <ul><li>At FNT we have seen a 60% Increase from 2010 to 2011 for OUR RESALE BUSINESS </li></ul><ul><li>This tells us that vast majority of our transactions at this time are the agents getting in front of the transaction </li></ul><ul><li>We have also seen 9.2% increase in our Escrow Only, which include our REO properties. This will be on the rise as the year progresses as well </li></ul>
Foreclosure Year over Year Comparison-Mike Orr Report
Pending Listings- The Most Telling Recovery Sign- FNT/Cromford Report
<ul><li>Demand now slightly outpacing supply </li></ul><ul><li>Downward pricing pressure eased </li></ul><ul><li>Investor demand is key to low-end market </li></ul><ul><li>Signs of slight recovery in some areas: </li></ul><ul><ul><li>Mostly between $250,000 and $800,000 </li></ul></ul>Short Term Outlook- FNT/Cromford Report
Major Trends – Positive- FNT/Cromford Report <ul><li>Economy & job situation improving slowly </li></ul><ul><li>Low prices stimulating new demand for homes </li></ul><ul><ul><li>Growth in demand is primarily from investors </li></ul></ul><ul><li>Buy & hold strategy growing in importance </li></ul><ul><li>Great time to be a landlord </li></ul><ul><ul><li>Low purchase price </li></ul></ul><ul><ul><li>Rents steady, plenty of tenants </li></ul></ul><ul><ul><li>Excellent cash flow </li></ul></ul><ul><li>Foreclosure wave now well into a long slow decline </li></ul><ul><li>Supply declining since late November 2010 </li></ul>
REOMAC Update Every Major Servicer is Trying to Get in Front of a Short Sale Transaction What does this mean for each of you?
REOMAC Update Although REO will be a part of our market for many years to come, Servicers are looking more and more in the Real Estate Professional’s Direction. Why?
REOMAC Update The Reason Is… Servicers now see the Realtor becoming the Marketing and Communication Path to the Consumer
What Makes FNT Unique to your Transactions? Fidelity National Title’s Relationships with Servicers can assist you with escalation and help you to get your files closed .
Testimonials “ I had a short sale I was working on for 4 months with Chase. We were continually being told that the approval letter was on it's way and the buyer was getting very antsy. Sharon Terhune put me in touch with Fidelity's SVP- Steve de Laveaga, who made ONE CALL to the Head of Loss Mitigation for Chase and my deal was closed in less than 10 business days. The contacts Fidelity Title has with banks is phenomenal and has helped get many of my short sales approved faster and successfully close.” Lauren Ellington Realty Executives
Testimonials Walt Danley The Walt Danley Group Realty Executives "Fidelity's bank escalation process is yet another in a long line of helpful tools that our title partner offers us. A quick phone call puts our transaction in front of the right people to push the process forward. It helps reduce our clients' stress levels and allows us to close sales more quickly."
Testimonials “ Fidelity National Title has helped us in two very distinct ways. First, when we've come to an impasse (BPO value, seller contributions to 2nds) with a lender and our file is complete and are numbers show the short sale should be approved and isn't... The escalation typically results in an approval letter and a closed short sale. Two, there are times when a file is just stuck in the short sale approval process due to the above mentioned or for other reasons and we escalate. Although the file may die we find out sooner rather than later that the short sale won't be approved and it allows all parties to move on, without spending more time and effort on a dead deal. Fidelity helps us to get the deals done” John Angelo REALTY EXECUTIVES
Testimonials “ After 6 long months of going back and forth and finally 2 months of waiting for a final approval, promised "within the week" for 7 weeks with US BANK. It took 1 email to Virginia Trzaskus and a call from Virginia to Steve, SVP of Sales and Marketing with Fidelity and within 72 hours we had final approval and the home closed 10 days after that. They were a life saver and it is my hope to send all Short Sale and otherwise, their direction.” Heather MacLean Realty Executives