Welcome to the Dallas Chapter of WCR

The Dallas Chapter of the Women's Council of REALTORS® supports REALTORS® throughout the Dallas area. Please peruse our Web site to find out about us as an organization and some of the benefits of membership. You may utilize our directory to find a current WCR-Dallas member or familiarize yourself with our officers. If you would like to attend one of our monthly meetings or special events, we have posted a schedule of events. If you are interested in becoming a member, we invite you to complete an on-line form that will automatically, be submitted to our membership chair. Finally, we recognize our advertisers on a page dedicated to them.

President's Notes Joint Collin County, Dallas meeting June 2009 By: Shelly Hammer, Jun 16, 2009 Shelly Hammer, Ebby Halliday, Sandra Hunt, and Kim Raine The annual joint meeting of the Collin County and Dallas Chapters of the Women's Council of Realtors was held Thursday June 11th with Dallas the host chapter. We had our 2009 State Chapter President Sandra Hunt as our special guest. In addition the founder of the Dallas chapter, Ebby Halliday was present to sign her book and share some of her many years of wisdom in Dallas real estate. Our next meeting is "Marketing Through Staging" with Jason Maxswell with Equity Enhancers on July 9th. In addition there will be a free one hour MCE class before the meeting and the subject of the class will be "Social Networking." See everyone next month.

Short Sale Professional Kim Raine avoid Foreclosure save your livelyhood

Stop foreclosure. Did you know you can lose your security clearance, your job or cannot find new employment if you have a foreclosure on your record. Unfortunately they do not go away.

DFW
North Texas

Kim Raine, CDPE
214 675 9436
Remax Premier Properties
kimraine@gmail.com

Avoid Foreclosure through a Short Sale Plano, Texas

Kim Raine is a Certified Distressed Property Expert. Hire someone who really cares. Most of the time you can avoid foreclosure. You need to list your home with someone who is trained how to communicate with banks and loss mitigation departments of large banks. This can be overwhelming if you do not have specialized training.

Kim Raine, Remax Premier Properties, 214 675 9436. CDPE, Certified Distressed Property Expert.

Plano
Frisco
Dallas
Carrollton
Little Elm
McKinney
Allen
Richardson
Keller
Lewisville
Grapevine
Bedford
North Richland Hills
Hurst
Euless
Irving
Coppell
Farmers Branch
The Colony

Dallas, Collin and Denton County Certified Distressed Property Expert (CDPE)

Kim Raine is a Certified Distressed Propety Expert!
Helping families to avoid foreclosure. One Family at a time.

Kim Raine will take your situation from start to finish.
She really cares!!
What is a Certified Distressed Property Expert (CDPE)?
Before we can define a Certified Distressed Property Expert, we need to define a distressed property. A property can become distressed for a variety of reasons but the most common reason is a foreclosure. A situation that has caused a property owner to have difficulty making mortgage payments or even selling the property is said to be in a distressed state; basically any property which has foreclosure looming can be identified as a distressed property.
Now that we have defined a distressed property, what is a Certified Distressed Property Expert (CDPE)? This is not only a designation earned by a licensed Real Estate Agent and REALTOR but it is also an acronym that signals to the public that the person displaying it has gone through extensive training to successfully mitigate a foreclosure. This can be done by negotiation mortgage terms, helping to negotiate a refinance or the most likely outcome, help sell the property.
Sometimes these properties have lost significant value either by physical damage, change in the zoning, lack of curb appeal or a host of other factors one of which occurring today is general market conditions. If the value of the property drops below what one could sell the property for and satisify associated debts, then the property is said to be short and any sale would be considered a "short sale". Short sales and foreclosures are not new to real estate but they have become very common lately. Negotiation a short sale is where a CDPE really shines.
These transactions are extensively time consuming and tedious. They require diligent follow-up, tons of paperwork and detailed analysis. Not to mention all the work that goes into drafting market reports and gathering all the information to convince the bank to accept a sales amount that will net them less. Not an easy task. Some of these sales can take anywhere from 6 to 12 months to close.
All this is done in addition to the normal marketing efforts required to sell this property. You can see why less that 1 % of REALTORS nationwide have the training and knowledge to successfully negotiate a short sale. I am one of the few professional agents that has dedicated my time, effort, and finances to educate myself in this sector of the market.
2008 finished with more than 50% of all homes sold were in some sort of distressed state....and that ratio is worsening. If you have a distressed property you can't chance your home sale on someone who doesn't have the tools to get things done. This difficult market is going to be here for some time. Experts predict that a second sustained wave of foreclosures is in our near future.
Buyers as well are not immune to the phenomenon. They are finding tremendous buying opportunities but if they the dealing with inexperienced parties that don't know the mechanics of a short sale, the deal will likely fall apart after waiting months for the lender to respond to an offer. It is equally important to buyers and sellers of distressed property to use a CDPE agent who can get these transactions to the closing table.

Call Kim Raine, CDPE, Remax Premier Properties, 214 675 9436
kimraine@gmail.com

DFW home sellers facing foreclosure are being helped using little known short sale strategies developed by Kim Raine. Kim Raine has been trained in this specialty and have all achieved the CDPE (Certified Distressed Property Expert) designation which uniquely qualifies them to help families in this unfortunate situation.

This real estate market has caused unbearable stress and heartache for many local families. A distressed family often makes decisions based on emotion rather than logic and knowledge of the situation they are in.

Kim Raine is here to help you in such distressed situations and ultimately help you fight off foreclosures. The extensive knowledge that we have obtained will greatly benefit the community in which we all live. While experiencing financial distress is extremely difficult for any family, the process of finding a valuable real estate professional compatible with your situation shouldn’t be. Kim Raine is committed to helping distressed families find better solutions for their future. With current conditions and our newly acquired CDPE designations, we have all of the essential tools at hand to ensure a lightning speed “Short Sale” allowing for zero balances on mortgages, while saving your credit at the same time. As your CDPE agent, we will explore every option with you and work towards a solid resolution. You have gone through enough, let us help!
It is estimated that most American families can only maintain their current living expenses for sixty (60) days or less when income is interrupted for any reason. This type of distress causes tremendous strain on families. Many people do not even realize that they are distressed, and as a result are finding their homes are in jeopardy. Many learn of Short Sales after it is too late. Eighty percent (80%) of homes in foreclosure today were never even on the market! Did you know that, according to the current conditions, distressed families may qualify for a Short Sale before even missing their first mortgage payment? With our CDPE designation, we not only have the means to easily identify a distressed family, we also have the strong capability to rescue them with our dedicated and knowledgeable professional guidance.
“Distress” can be caused by any of the following:
Unmanageable Debt
Job Loss
Medical Bills
Serious Illness
Incarceration
Divorce
Death
Military Service
Payment Increase and Mortgage Adjustments
Relocation
Reduced Income
Insurance or Tax Increases

While it may not seem like it now, there will come a time where your current financial troubles will pass. Let us fight for you and help you to avoid a devastating financial consequence so many people face today. With the help of Kim Raine, no stone will be left unturned!
Rescuing families one home at a time!

$7500 TAX CREDIT FOR FIRST TIME BUYERS IS FOR REAL

GET MORE INFORMATION ABOUT THE FEDERAL TAX CREDIT FOR FIRST TIME BUYERS. http://www.federalhousingtaxcredit.com/

The home purchase tax credit of $7,500 equals a free loan for first time home buyers. However, after June 30, 2009, those who were timid about venturing into the present real estate market will find that their hesitation cost them.
April 9, 2008-June 30, 2009 is the eligibility time span for the home purchase tax credit created by the new housing bill. If a potential home buyer has not owned a house during the past three years, and he/she can close before the end of June, they may be eligible for up to a $7,500 credit against their 2008 or 2009 federal taxes ($3,750 for a person filing single).
The new credit is expected to benefit thousands of buyers, but because the specifics of the tax credit have changed a s the Senate and House negotiated a final compromise, below is an overview of the credit in its final form:
Purpose: The basic idea of the tax credit is to jump-start housing sales and clear out unsold real estate inventories, as well as pull in new buyers. Within the designated time period, a buyer can purchase any house-new, old, any location, any condition, or in any price range-and the IRS will cut up to $7,500 off of the buyer's 2008 or 2009 tax bill.
Mechanics: For an eligible buyer who owes the IRS $4,000 on their total 2008 income tax bill, the $7,500 tax credit could wipe out everything they owe plus give them a $ 3,500 refund. The government calls the new tax credit "refundable," meaning that if the tax bill is less than the credit amount, one gets the difference back from the Treasury.
Eligibility: If an individual sold his/her home more than three years ago and now rents, they are eligible. Those who have never owned a home are also eligible. Those who are eligible for the tax credit and who close on a house before June 30, 2009, can claim a credit of up to 10 percent of the purchase price of the property, up to $7,500. If the buyer's adjusted gross income exceeds $150,000 ($75,000 for single buyers), the credit maximum begins to phase down. An eligible buyer can claim the credit by simply requesting it on his/her tax return for 2008 or 2009. Even if the home is purchased in 2009, the buyer can take the credit against his/her 2008 taxes by filing an amended return.
Ineligibility: Those who currently own homes are not eligible for the credit. In addition, individuals who are nonresident aliens, finance their property using a state or local housing agency's tax-exempt bond mortgage, or do not plan to use the house as their principal residence are not eligible. Buyers cannot use both the new federal credit and the District's first-time-buyer credit program-no double-dipping is allowed.Caution: Unlike some other tax credits, this one requires beneficiaries to repay the credit. In the second tax year after purchase and continuing for up to 15 years, taxpayers are required to make pro rata repayments to the government on their federal filings.
A 15-year payback period for the full $7,500 credit is $500 a year. If the house is sold before the end of the repayment period and there is no gain on the sale, the homeowner will not be expected to pay the remainder of the credit back from the proceeds. If there is a net gain, the homeowner will be required to pay the remaining balance, however the "recapture" cannot exceed the amount of gain. The federal government is taking on all or most of the risk that the value of the new house won't increase over time.
Tax-free loan: At its nucleus, the new tax credit functions as an interest-free loan for up to $7,500. Only the principal is paid back over time.
For more information on the home purchase tax credit, contact one of the members of the REALTOR®/Lender Committee or e-mail your questions to realtor/lender@ccar.net.