Archive for February, 2010

First PR on The Ugliest House Contest

Thursday, February 25th, 2010

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The first stage of the Ugliest House Contest is collecting nominations. To have a legitimate contest, it is important that we have multiple houses nominated. (Please submit your houses soon. We are already collecting submissions. Go to theugliesthouse.com for details.)

This is also a good chance for you to have contact with your investors, and make new contacts with other investors in your community.

The best PR opportunity is during the voting, and when the winners are announced. But, we have already had our first article in The Washington Business Journal.

Sheila Konecke, with K2NC in DC, must be doing a good job. Here’s another posting in a DC Neighborhood Blog about one of her houses.

Ugliest House of the Year Markets

Wednesday, February 24th, 2010

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This years Ugliest House of the Year will be conducted in the following markets (click on the link for information on that market):

Asheville/Hendersonville, NC       Boston, MA

Chicago, IL                                        Columbus, GA

Dallas/Ft. Worth, TX                         Edison, NJ

Joplin, MO                                          Kansas City

Memphis, TN                                     Minneapolis/St. Paul, MN

Norfolk, VA                                          Philadelphia, PA

Phoenix, AZ                                        Pittsburgh, PA

Seattle, WA                                         St. Louis, MO

Tucson, AZ                                          Tulsa, OK

Washington, DC

For rules and information how to submit a house for the Ugliest House of the Year, go to theugliesthouse.com

HVA is in the Top 50 for the Fifth Year In a Row!

Thursday, February 18th, 2010

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Franchise Business Review has published its Top 50 Franchise Satisfaction Awards for 2010 and once again HomeVestors is among the best franchises, placing 41 in the Large Systems Class. The survey measures franchisee satisfaction of almost 500 franchises.

The ranking is determined by Franchise Business Review after surveying franchisees almost 500 franchise companies. This is the third year Franchise Business Review separated the list into categories based on size. The Large Franchise Class is for franchises with more than 200 franchise units. See the List

This ranking is special to us because it is based on surveys completed by our franchisees with no involvement by the corporate office. It is a pure satisfaction survey. To rank in the top 50 for a fifth year in a row, especially considering all we have been through is a tribute to our franchisees, and our corporate staff.

Ken and I are appreciative for the franchisees for their faith and support. This survey is important to us, because our goal is to build a culture in the company promoting service to the franchisee.

 

Why it is always important to treat customers right!

Wednesday, February 17th, 2010

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We talk about how we don’t just Buy Ugly Houses, but we help solve Ugly Situations. There are many reasons people call us, but it is important you do your best to help as many as you can, and treat them all with respect. Not only because it is the right thing to do, but you never know when that attitude, and thus a satisfied customer, may lead to future good will for you and the company.

Here is an example on a blog. Read about half way down the page.

 

New Franchisee in Fairfield/New Haven, CT

Wednesday, February 17th, 2010

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Congratulations to Scott Thompson, our newest franchisee in CT! Scott is planning to attend the March SST, and will open by the end of March.

Also, congratulations to DA Fran Yerardi on his 3rd AF!

HUD proposes to eliminate ALL seller financing unless

Friday, February 12th, 2010

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We have received this from several sources: HUD proposes to eliminate ALL seller financing unless the seller lives in the home or becomes a licensed mortgage originator

The situation: In the federal SAFE mortgage act passed last year, we were successful in preserving the right for individuals to make up to five seller financed transactions per year before being subject to mortgage originator licensing.  HOWEVER, that law was passed subject to HUD’s approval of the law as "compliant" with the intention of the federal law.  This means that, for those states which do not have a ‘compliant law’, the SAFE act allows HUD to implement licensing for the state.  HUD has since issued proposed rules in which, in a nutshell, seller financing would no longer be allowed for non-owner occupied homes.

HUD is soliciting comments on these proposed rules. The Deadline for filing Comments is FEBRUARY 16 !

We need YOUR help:  We desperately need for YOU to go on record with HUD on this issue. Industry efforts to affect this law cannot hope to gain traction unless thousands of individual investors have clearly communicated that they are opposed to this portion of the rules. It is very important that you stand up and be counted on this issue.

Please submit your comments to HUD – Today ! WE ONLY HAVE Three DAYS TO MAKE AN IMPACT !
 
To read the proposed rules, go here – http://www.regulations.gov/search/Regs/home.html#documentDetail?R=0900006480a6b033

To file your comment, go here – http://www.regulations.gov/search/Regs/home.html#submitComment?R=0900006480a6b033
and fill out the form.

What should you say? Say what you feel, but say it politely!  The message should include that you would like the definitions in the proposed rules to be changed so that private individuals can originate and service loans on properties they personally own.  Here are some ideas suggested by others for points you might want to make:

· bank loans are not available on some types of properties
· the tight lending climate has made bank financing "out of reach" for many
· seller financing is an "age old" tradition based on private property rights
· these rules would prohibit even partial seller financing – i.e. a "seller second"
· according to HUD’s "Residential Finance Survey" in 2001, roughly 40% of all non-farm residential properties in the US are owned free and clear
· an estimated 6 million Americans own a property other than their own primary residence
· an estimated 4.5% of Americans own three or more properties, many purchased solely as investment properties
· 40% of non-owner occupied residences are mobile homes which are more difficult to sell with bank financing
· approximately 5% of homes in US are for sale or for lease… seller financing may be key to liquidating this inventory
 

Please do not delay in following the steps above and make your voice heard.

Another NJ Franchisee

Thursday, February 11th, 2010

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Welcome to Jeff Wilner with JTW Investments, LLC as our newest franchise in New Jersey! JTW Investments will be working in the Bergen County, NJ territory.

Congratulations to DAs Jim Wiley and Bill McKenna!

More Good News: Maryland is now Open for Franchising

Tuesday, February 2nd, 2010

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We received confirmation that Maryland is now open for selling franchises.

Maryland is one of the registration states, and we have been waiting on their approval.

So, let’s sell some franchises in Maryland!