In a recent ProSchools webinar “Selecting a Broker” we discussed things someone new getting their real estate license should ask and consider when interviewing managing brokers. Over 30 of ProSchools’ real estate students attended this well-received topic.  Our guest speaker, John Spitzer, Principal Broker with John L Scott in Portland, OR answered these questions for our blog. What [...]Tags: ProSchools webinar, real estate broker, real estate license, real estate school

We hear a lot about short sales and foreclosures in our current real estate economy, but what exactly is a short sale and what is involved? A short sale occurs when the outstanding loans and liens against a property are greater than the proceeds of the sale of a home. A homeowner may consider this option [...]Tags: Real estate, real estate agent, short sale, short sale negotiations, short sale process

As you work on your studies to get your real estate license, you should be thinking ahead about the steps you will need to take to start your business once licensed. As a newly licensed real estate agent, you will need to work under the supervision of a managing broker for a period of time [...]Tags: real estate agent, real estate broker, Real Estate Business, Real Estate Education, real estate interview, real estate license

For those interested in getting a Washington real estate license, you should know that Washington passed a new real estate license law, RCW 18.85.  The old law was created in 1925 — 85 years ago!  Current practices and the way the law was written made it difficult to enforce and hard for licensees to obey. The new [...]Tags: 60-hour fundamentals, broker license, Managing Broker, RCW 18.85, real estate broker, real estate licensing exam, real estate requirements, Washington real estate license

A big topic of discussion today is how the real estate industry got to the point it is in. Phillip C. Querin, a Partner with Davis Wright Tremaine (and Legal Counsel to PMAR-Portland Metropolitan Association of Realtors®), was asked to give a succinct and realistic evaluation of what he thinks happened. Here is Phil’s response in [...]Tags: foreclosure, foreclosure crises, mortgage crises, mortgage loan crisis, real estate industry

Changes are coming to Washington! Starting July 1, 2010, a new licensing law will take effect, impacting licensees. Reminds me a lot of when Oregon changed their license laws a few years back and ProSchools was busy developing new courses and answering calls. Here are some of the Washington License Law changes: A salesperson license will be considered [...]Tags: ARELLO, Fundamentals, Managing Broker, Managing Broker license, ProSchools, Real Estate Practices, Transition course, Washington Broker license, Washington Department of Licensing, Washington Real Estate Commission

Image by TheTruthAbout… via Flickr How about if you have a second mortgage…what should you do? Borrowers with both a first and second mortgage might still be able to qualify to refinance under the Making Home Affordable Program. The amount due on the first mortgage needs to be less than 105% of the value of the [...]Tags: making home affordable program, mortgage

[/caption] Getting the real estate housing market back on track is a big challenge today and part of President Obama’s strategy to make it happen is through the Making Home Affordable Program. Approximately 9 million families could be eligible to refinance or modify their current loan for a payment [...]Tags: fannie mae, freddie mac, making home affordable program, mortgage, mortgage-licensing, Real estate

The bulk of this blog is donated by Barbara Roach, Principal Broker and  veteran of the Portland real estate market. In addition, to all of her personal contacts with her associates, Barbara sends out weekly e-mails in a Q&A format keeping them informed of changes in laws, procedures, market conditions, etc. First, my thoughts: Thank God for [...]