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Joe Aldeguer Offers Fresh Solutions to Weather the New Economy

In Finance, Real Estate on January 19, 2012 at 3:03 pm
Joe Aldeguer

Joe Aldeguer

Chicago financial advisor Joe Aldeguer was recently asked by Presentation Solutions what consumers can do to keep their heads afloat amid the new economic issues facing Americans today.

Presentation Solutions: Thank you, Joe Aldeguer for taking the time to speak with us today about such an important issue.

Joe Aldeguer: Absolutely my pleasure. I’m always ready to talk finances!

Presentation Solutions: So, tell us. With the housing market declining, is your office in Chicago seeing new trends among homeowners?

Joe Aldeguer: Great question. Yes, we are seeing that consumers are more open to opt for a strategic default than they were just 5 years ago.

Presentation Solutions: Exactly what does that mean?

Joe Aldeguer: Very simply put, many Chicago residents are upside down in their houses. They are learning that it may be best to walk away from the loan, cut their losses, and start fresh.

Presentation Solutions: So what you are saying is that they are actually allowing a foreclosure?

Joe Aldeguer: Usually that is the end result. People are seeing that the banks stuck them with these defective loans that they [the bank] knew were far more than the property’s actual worth.

Presentation Solutions: Houses were valued much higher than ever before there for a while.

Joe Aldeguer: Yes, they were. People were almost scared not to buy, and lenders got careless.

Presentation Solutions: True, but how do your clients feel when you suggest foreclosure?

Joe Aldeguer: It used to be a very awkward conversation. People were ashamed and embarrassed. We are seeing now that the house values in Chicago should never have gotten so high. People are accepting that it isn’t their fault.

Presentation Solutions: As with most of life’s trials, acceptance is the hardest part.

Joe Aldeguer: You said it! People are seeing their houses for what they really are now: a material possession. Letting it go is really like giving up any object.

Presentation Solutions: Yes, but there are so many emotional issues involved.

Joe Aldeguer: We are certainly sympathetic to that, but when their backs are against the wall, coming to the understanding that defaulting is a business decision helps.

Presentation Solutions: Regarding your Chicago area client base, Joe Aldeguer, do they view it as a business decision?

Joe Aldeguer: It certainly takes some getting used to, but I’ve found that people are much more open to wiping the slate clean and starting brand new. I try not to say they are losing their home because it is true that a house is not a home.

Presentation Solutions: Isn’t it much harder to re-qualify for a new home loan later after a foreclosure?

Joe Aldeguer: Well, it is likely that the individual won’t be able to buy a house the next day, but there are ways to get an FHA loan in as little as a year after the process is complete.

Presentation Solutions: Sounds like you guys help people really take charge.

Joe Aldeguer: We are a solutions oriented company and believe that action is the best way to change for sure!

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Timothy Powers Asks: Short Sale – Haven or Hassle for Home Buyers?

In Finance, Real Estate on October 14, 2011 at 8:03 pm
Timothy Powers

Timothy Powers

Timothy Powers of Alamo, a California mortgage expert and Realtor® says buying distressed can often mean stress for a homeowner.

Short sale was a term relatively unknown until the market collapse of 2008, says Timothy Powers. Alamo distressed properties are now in high demand, he adds. Unfortunately many are in terrible shape and may need more TLC than the average buyer can afford, points out Timothy Powers. Some Alamo homeowners in a short sale situation have let the property deteriorate due to diminishing finances.

Also, according to Timothy Powers, Alamo investors have a tendency toward buying short sale homes and foreclosures with cash, often beating out families who need bank financing. As the saying goes, “Money is King” and banks are happy to take cash over a promissory note in a short sale circumstance, says Timothy Powers. Alamo banks are already losing money and can’t afford to risk losing more.

Another issue with distressed sales, says Timothy Powers, is Alamo’s bank approval process. Most banks take quite a while to approve a short sale – sometimes many months. According to Timothy Powers, Alamo’s MLS system now requires agents to note a short sale status on the listing. Many buyers will steer clear of an unapproved short sale for the time involved in pushing it through. It’s a catch 22 though, notes Timothy Powers, as Alamo homeowners often wait to receive an offer prior to approaching the bank.

Often, claims Timothy Powers, Alamo banks are not even aware that the homeowner is trying to sell short of what they own. Real estate agents may puff up the property status by saying that it is a short sale to get offers on the table – sometimes just to look good to the client. When the bank hasn’t pre-approved a short sale, says Timothy Powers, Alamo real estate agents often note “offers subject to review by third party” on the listing.

Other problems that may delay a short sale process, says Timothy Powers: Alamo residents with a second mortgage or equity credit line. A secondary lien holder may stop a short sale in its tracks if they are not willing to settle for less than they are owed. Also, if a homeowner is still paying on the loan, reports Timothy Powers, their Alamo bank or mortgage company have no real incentive to accept less money. A buyer may find it helpful to determine whether or not the property has fallen into default, says Timothy Powers. If Alamo sellers can still afford the home – the bank likely won’t accept a short sale.

Says Timothy Powers, Alamo short sale buyers should be prepared for a long and drawn out home search. It is possible, however, and having an experienced Realtor® in the ring can make the difference between being knocked out or lasting until the banks ring the bell on a short sale.

Timothy Powers began his real estate career in 1989 three years after receiving a BS in Business Administration from St. Mary’s College. His passion and natural talent for real estate led him to open a franchise of Intero Real Estate Services and later Paragon Mortgage Bankers. On top of his professional duties, Timothy Powers also donates his time and skills to a project called East Bay Foreclosure – a firm he established to aid our nation’s military that are facing eviction and foreclosure. Timothy Powers is an Alamo Realtor® and mortgage broker who may be reached by calling (925) 855-1810 x22

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Guy Asaro Weighs in on the Energy Saving Potential of the Green Movement

In Real Estate on December 4, 2010 at 6:38 am

The green movement has a lot of permutations, notes Guy Asaro, and each professional must apply it to their particular industry. In most instances, says McMillin Homes president Guy Asaro, the green movement involves conserving energy and materials thorough imaginative and innovative methods. Guy Asaro’s particular interest is in greening the residential building and land use industry to which he has dedicated his professional career.

Working hands-on in the building and real estate industries since the 1980s, Guy Asaro brings a unique and seasoned perspective to the modern home building market. Green living is inevitable, says Guy Asaro, not merely a good idea. The days of wasteful energy use, explains Guy Asaro, have gone the way of the dodo bird. A real estate developer cannot compete in today’s market, adds Guy Asaro, without incorporating facets of the green movement into his or her work.

According to Guy Asaro, designing a land use plan involves several aspects of conservation. One significant aspect of conservation, says Guy Asaro, is the land use factor. The land plan itself, notes Guy Asaro, must be geared toward saving energy. Guy Asaro also points out that building offices that are close to residences can shorten or eliminate automobile commutes. Retail centers should be near enough to the residential clusters, says Guy Asaro, so that residents do not have to get in their car and drive each time they want to shop. People that drive less, says Guy Asaro, will conserve our overall consumption of fossil fuel and spend more time walking on the area’s quaint sidewalks and trails. In fact, the more significant places residents can reach on foot, adds Guy Asaro, the higher the reported levels of residential satisfaction. The community strengthening effect of increased pedestrian activity, concludes Guy Asaro, is a great beneficial side effect of reduced car traffic.

About Guy Asaro

Guy Asaro currently serves as President of McMillin Homes, one of The Corky McMillin Companies.  Guy Asaro is a 28 year veteran of the real estate industry. Guy Asaro joined the Corky McMillin organization in 2004 and was made president of the homebuilding operations in 2007.  Guy Asaro also serves as a member of the five-person Executive Committee for The Corky McMillin Companies which guides the operations and strategic planning for the entire Corky McMillin organization.

In his position as president, Guy Asaro is the overseer of McMillin’s four regional home building divisions including Southern California, Central Valley and Bakersfield in California and San Antonio, Texas. Guy Asaro supervises all aspects of the home-building operations including planning, product development, construction, sales and marketing and after sale customer service, as well as mortgage and escrow services.

McMillin Homes is in its 50th year of doing business and has built approximately 30,000 homes primarily throughout the state of California.  McMillin Homes closed 1,107 homes in 2007, 830 homes in 2008, and 825 homes in 2009 companywide.

Prior to becoming the president of McMillin Homes, Guy Asaro held the position of senior vice president of land acquisition and planning for sister company McMillin Land Development.  Before joining the Corky McMillin organization, Guy Asaro was a vice-president of The Eastlake Company for five years and also ran his own development company.  Guy Asaro has previous experience including holding an executive position with both The Baldwin Company and Pacific Bay Homes.

Guy Asaro is very active in community affairs for the real estate industry.  Guy Asaro currently serves on the Building Industry Association of San Diego County’s Board of Directors and is a past president of its South County Division.  Guy Asaro has also served as a member of the Chula Vista Mayor’s Task Force on School Issues, Budget Oversight Committee for the Chula Vista Elementary School District and SR-125 Development Task Force.

Guy Asaro received his Bachelor of Science degree in business administration from the University of Redlands.  Guy Asaro lives in Scripps Ranch with his wife Chelsea and their three children.

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JS Properties, LLC Recommends Murfreesboro Tennessee

In Home and Family, Real Estate on September 7, 2010 at 3:07 pm

Joyce Smotherman, owner and founder of JS Properties, LLC, is an active member of the Murfreesboro community. JS Properties, LLC notes that the geographic placement of Murfreesboro is one of its greatest assets.  This growing city is situated at the geographic center of Tennessee, with convenient access to all three of the region’s major interstates.  Interstate 24 travels directly through town, while Interstates 40 and 65 are a few short miles away.  These highway thoroughfares, adds JS Properties, LLC, make it easy to move people and resources through the city.  Additionally, Murfreesboro’s accessible placement on the interstate system gives the city easy access to major metropolitan markets like Nashville, Birmingham and St. Louis.

Murfreesboro has more to offer than simply accessible freeways. Commercial and residential real estate exploded in the 1990s and that has had a major impact on the Middle Tennessee region. JS Properties, LLC offers information to home buyers, commercial clients and those considering leasing real estate in the Middle Tennessee area about the wealth of opportunities available here. JS Properties, LLC also offers property management services to parties interested in renting out their properties. JS Properties, LLC points out that Murfreesboro is also a center of learning and culture.

Middle Tennessee State University, located in Murfreesboro, provides a variety of quality educational opportunities, adds JS Properties, LLC. MTSU offers a large music program and its School of Music presents the Main Street Jazzfest every year.

Joyce Smotherman of JS Properties, LLC states that Murfreesboro is home to several museums and historical sites. The Discovery Center at Murfree Spring has numerous exhibits and activities for children as well as a wetlands area with a nature trail, adds JS Properties, LLC. Stones River National Battlefield and Museum is a tribute to the Civil War Battle of Stones River fought from December 31, 1862 through January 3, 1863. A greenway system was developed several years ago giving the citizens of Murfreesboro a place to hike, bike, jog, fish or picnic. It is a wonderful addition to the area and a great place for anyone who wants to get out and enjoy nature.

JS Properties, LLC contends that with so much history and diversity, it’s no wonder so many people flock to Murfreesboro, making it a vibrant and thriving community with enormous possibilities for businesses, families and students alike. In conclusion, JS Properties, LLC says that anyone interested in a welcoming residential environment accompanied by up-and-coming commerce and culture should consider the community of Murfreesboro, Tennessee.

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