Real Estate Weekly

Real Estate News that Matters

Real Estate Weekly - Real Estate News that Matters

Important Housing News for Military, Ben Stein joins the party and much more!

On Today’s show Obama announces a reduction in refinance fees through for FHA borrowers as well as the announcing payments for military personnel who suffered loss of equity and or a wrongful disclosure compensation payments starting at $116,000. Service members who believe their rights were violated by Bank of America, J.P. Morgan Chase (JPM, Fortune 500), Ally Financial (the old GMAC), Citibank (C, Fortune 500), or Wells Fargo (WFC, Fortune 500) can contact the Justice Department directly at 1-800-896-7743

Ben Stein Says “Buy A House”!


Warren Buffet Says “Buy Baby Buy”!

During the show today we welcome Warren Buffet’s comments regarding real estate as being a compelling investement, right now

Interesting interview with Warren Buffett where he states I’d Buy a Couple Hundred Thousand Single Family Homes If I Could…..

Making Home Affordable – Does HARP Make the Cut?

At Real Estate Weekly, we hope that distressed homeowners who have been struggling to keep their mortgage payments current, can get some relief from the retooled refinance plan and get off their diet of Pasta fagioli.  (Italian Peasant Food)

On today’s show we cover the HARP Program and discuss how recent administrative changes are making the program helpful to homeowners where prior efforts have failed.  For more information on the HARP Program look at the government website

To find out if Fannie or Freddie owns your loan try these loan look up tools below:

Head researcher  and editor, Dana, did a lot of diggin’ and callin’ to find lenders willing to participate in the HARP program locally.  Though we do not believe that this list is exhaustive we can tell you it is a good start:

Local bank lenders who made the cut:

Jeff from Wells Fargo, who operates at the main office in St. George (Tabernacle & Main St.).   His number is 674-8003

US Bank- Contact your local branch

State Bank of Southern Utah (SBSU)  They are participating in the HARP program. Their current customers will get preferential treatment in terms of documentation since they already “know” them, but they are happy to sit down with any and all homeowners.

Credit unions, who made the “cut”:

Southwest Credit Union – You can walk in any branch office and ask for a mortgage originator and they will hook you up. They only do loans held by Freddie. They will be able to tell you who owns your mortgage once you contact them.

Deseret First Credit Union – Deseret First will happily assist you in a HARP refinance. You can call Chuck, who handles our area from SLC.  He was kind enough to give us his direct line for listeners to use 801-456-7075

SGI Mortgage – Great lady and so helpful, Debbie Hartman. She can be reached at 674-1090

W.J. Bradley Mortgage Capital – Ryan Bolton is the captain of the ship over there and he does every kind of loan under the sun.  His number is 627-0494.

St. George Utah Foreclosure Bank of America Study

There has been a lot of chatter by real estate agents and the news media on the notion that there is a “shadow inventory” of homes, that will be dumping more real estate on the St. George real estate market.  On last week’s show, we delivered the following results from a study performed by the Real Estate Weekly staff  relaying the outcomes of  Washington County Notice of Defaults filed by Recontrust (Bank of America) from October 1 2008-October 1, 2011.

Out of 1341 Bank of America Notice of Defaults filed in Washington County including St. George, a systematic sampling produced the following results:


The Notice of Defaults outcomes were….

NOD Cancelled                                    429         32.00%

NOD Still Outstanding                        128           9.55%

Property was Sold or transferred      120          8.99%

Property Foreclosed                             663       49.46%


According to our numbers, Bank of America could bring to the courthouse steps the 128 homes with NOD’s still outstanding but the other cancelled properties would need to restart the process, thereby creating months of delay in producing additional inventory.  And that is why I refer to the “shadow inventory” threat to the St. George real estate market as the “Great Pumpkin” of real estate.

Commercial Real Estate Update with Wes Davis

Dara Tancredi, host of Real Estate Weekly will have special guest Wes Davis from NAI South giving us the 3rd quarter update on the local commercial real estate market and exciting retail news for Saint George Real Estate and all of  Southern Utah.

Wes Davis can be reached at  (435) 627- 5705

Check out the show Thursdays 4:30 pm 1450 AM/96.7 FM  KZNU.  Don’t forget you can listen online from website our or by loading the KZNU Iphone App.