This scam is going on right here in Topeka. Please beware of this tactic if you are planning on renting a home. This is a great article and explains exactly what to watch for. If you questions whether a deal maybe too good to be true, be sure to consult with your REALTOR for advice.

Source – WyomingNews.com
By Baylie Evans
bevans@wyomingnews.com

CHEYENNE — A real-estate scam is causing frustrations for local home sellers and renters.

Employees at Assist 2 Sell, a real-estate company here, said their clients have been affected, and they suspect that clients at other companies have been as well.

The scam works like this: A real-estate company puts listings for homes for sale on a Web site that is viewable by the public.

Then someone who is probably living overseas somewhere looks up the houses and finds the names of the homeowners using public information.

That person then posts a “for rent” listing on Craigslist, a classifieds Web site, for that address, using the real owner’s name, at a very low rent.

When potential renters contact the scammer about renting the home, the scammer has them fill out an application. The person then “approves” the application and asks the renters to send the first month’s rent and a security deposit in order to receive the keys.

This is all done by e-mail, and without the renters having seen the inside of the home, just photos from the real-estate site.

Of course, when the renters send the money, they never receive a key.

Jennifer Trainer, a real-estate broker with Assist 2 Sell, said people have been sending as much as $1,500 to this person.

“People have been falling for it like crazy,” she said.

And it seems to be getting worse, added Wendy Miller, a broker’s assistant at Assist 2 Sell.

“It seems like every week there’s another one of the houses on Craigslist,” she said.

Often, the scammer tells the potential renters a sob story.

In one e-mail correspondence, the scammer identifies himself as a pastor working as a missionary overseas.

In another, he says he and his wife moved to west Africa after winning a bid for petroleum land there.

And in another, he says his telecommunication company has moved him to England for two or three years.

But in all of them, he pleads for the renters to take good care of his home and apologizes that he can’t be there to show them the inside. And then he asks them to send money for rent and the security deposit.

In one correspondence obtained by the WTE, the renter tells the scammer she is desperate to find a home for her family, and she jumps at what seems like a perfect opportunity — though the correspondence ends when she asks to speak to the person over the phone.

And the problems aren’t only felt by potential renters. The real owners of the homes being used in the scam also are affected.

Claudia Rennekamp is trying to sell her home in Cheyenne and has been subjected to strangers knocking on her door or constantly driving by to look at the house. She has to tell them the house is not for rent and that they are the victims of a scam.

“It’s scary,” she said.

There’s not much anyone can do to stop the scam, since the person is overseas and no one knows a real name or address.

“Our best bet is just to avoid becoming a victim,” Lt. Mark Munari with the Cheyenne Police Department said. “Folks need to be very cautious about Internet postings.”

Legitimate business is not done over e-mail, and people need to be aware that these types of scams are out there.

Any information about the situation could help police, he added, but it’s impossible to file charges against someone living overseas.

The old adage holds true, he said: “If one of these things sounds too good to be true, it probably is.”

PARSIPPANY, N.J. – Sept. 17, 2009 – Coldwell Banker Real Estate LLC ranked highest among real estate companies in satisfying home sellers according to the recently released J.D. Power and Associates 2009 Home Buyer/Seller StudySM.

“This recognition is a testament to the brand’s legacy as an industry leader, our commitment to innovation and, above all, our powerful network,” said Jim Gillespie, president and CEO of Coldwell Banker Real Estate LLC. “With unsurpassed local knowledge, expertise and work ethic, we at Coldwell Banker have always felt that our network of professionals is the greatest in the industry, and we’re pleased J.D. Power and Associates recognized it.”

The independently administered study measured customer satisfaction of homebuyers and sellers among the largest national real estate firms. The study incorporates more than 3,100 evaluations from 2,801 respondents who bought or sold a home between April 2008 and June 2009. The survey was fielded between April and June 2009.

J.D. Power and Associates examined four factors in the home-selling experience including: agent; marketing; office; and package of additional services. Among home sellers, Coldwell Banker Real Estate ranked highest with a score of 815 and performed particularly well in all four factors.

Coldwell Banker Real Estate also ranked particularly high in the home-buyer segment. The brand ranked second with a score of 801 on a 1,000-point scale, performing particularly well in the office factor.

Complete results for the study can be found here.

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

About J.D. Power and Associates
Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on home building and home improvement, car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

With the credit crunch and huge amount of competition from distressed properties, “normal sellers” have had a tough time getting their properties sold. If you must sell in this market, it’s absolutely critical that you price your property right.

Get the full story here

This “Two Minute Expert” video from This Old House highlights 5 weekend updates you can make to your home to help boost your home’s value.

You’ll find that homes on the Topeka real estate market definitely benefit from these types of updates. With a good selection of homes currently on the market, take advantage of anything you can do to make your home more appealing over your competition.

Toni Shenk is this year’s winner of the YWCA Entrepreneur and Excellence Award. The honors were handed out Tuesday afternoon at the Ramada Hotel. This top-flight realtor with Coldwell Banker shares her thoughts about Topeka, and what makes her an award winner in this interview with Ralph on “13 News at 4.”

Topeka, Ks. – Carol Ronnebaum with Coldwell Banker American Home Services has been awarded the Seniors Real Estate Specialist (SRES) designation by the Seniors Real Estate Specialist Council of the National Association of Realtor (NAR).

Carol Ronnebaum is one of just over 16,000 real estate professionals in North America who have earned the SRES designation. For any residential real estate needs from 1st time buyers to mature senior generation moves, you may contact Carol Ronnebuam, SRES by phone, 271-0341, by e-mail, (Carol@CarolRealtor.com), or by visiting CarolRealtor.com.

The Topeka Chamber of Commerce recently created and published a video about the quality of life in Topeka. It is such a great video, we wanted to share it with you.

Visit the Topeka Chamber of Commerce.

Check out the Chamber’s Relocation Guide.

Coldwell Banker Griffith & Blair American Home has nominated Toni Shenk to be honored at the 21st Annual YWCA Leadership Luncheon. This recognition places Toni with a select group of women whose success is an inspiration to others in the Topeka area, especially in the aspects of growing leadership and enhancing lives.

We feel honored as a company to salute Toni for her leadership abilities, initiative, creativity, positive attitude, and her countless community service activities.

All of this year’s honorees (including Toni) will be recognized at the YWCA Leadership Luncheon at 11:45 am on May 12, 2009 at the Ramada – Downtown.

Congratulations Toni! We are extremely proud of you!

ed note: Bryon Schlosser is the CEO and Owner of Coldwell Banker Griffith & Blair American Home.  He is a past president of the Topeka Area Association of REALTORS.

source www.wibw.com 4/1/09

One local man was honored today with the Champion of Character award. This award is given to an individual who demonstrates character that significantly improves the health, safety and quality of life in the community.

Safe Streets Coalition and Topeka City of Character recognized Byron Schlosser at a news conference at the Great Overland Station today.

Schlosser is a real estate broker for Coldwell Banker Griffith & Blair. He was nominated for his efforts in changing the way realtors access properties. “For years, real estate agents used traditional lock boxes on homes that were listed.” If an agent wanted to gain access to a property for showing purposes, the agent would call the listing agency and obtain the lock box code to open the combination.

“The old lock boxes that we used just had three combinations and it never changed, so once somebody gained access to your home – a realtor or an inspector or repair-person – they knew that combination,” said Schlosser.

To remedy the potential risk for someone breaking into a listed residence, Schlosser invested more than $32,000 for the purchase of electronic lock boxes which record who enters a home and at what time.

These lock boxes can only be opened with a smart-card based electronic key, so every cardholder becomes accountable for the use of home seller’s key.

Schlosser has worked with the Topeka Area Association of Realtors and a special electronic lock box committee to introduce them to area.

The Champion of Character award was presented this morning by the Kansas Character Recognition Council of Topeka/Shawnee County. Anyone can make nominations for Character Champions. Nomination forms can be found at the Topeka and Shawnee County Public Library or by calling the Topeka City of Character office at 785-273-4330.

On March 4, 2009, the Obama Administration announced new U.S. Department of the Treasury guidelines to enable mortgage servicers to begin modifications of eligible mortgages under the new Making Homes Affordable Program – announced by President Barack Obama on February 28, 2009. Here is a quick FAQ on the program;

Borrowers Who Are Current on Their Mortgage Are Asking:

1. What help is available for borrowers who stay current on their mortgage payments but have seen their homes decrease in value?

Under the Homeowner Affordability and Stability Plan, eligible borrowers who stay current on their mortgages but have been unable to refinance to lower their interest rates because their homes have decreased in value, may now have the opportunity to refinance into a 30 or 15 year, fixed rate loan. Through the program, Fannie Mae and Freddie Mac will allow the refinancing of mortgage loans that they hold in their portfolios or that they placed in mortgage backed securities.

2. I owe more than my property is worth, do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

Eligible loans will now include those where the new first mortgage (including any refinancing costs) will not exceed 105% of the current market value of the property. For example, if your property is worth $200,000 but you owe $210,000 or less you may qualify. The current value of your property will be determined after you apply to refinance.

3. How do I know if I am eligible?

Complete eligibility details will be announced on March 4th when the program starts. The criteria for eligibility will include having sufficient income to make the new payment and an acceptable mortgage payment history. The program is limited to loans held or securitized by Fannie Mae or Freddie Mac.

4. I have both a first and a second mortgage. Do I still qualify to refinance under the Homeowner Affordability and Stability Plan?

As long as the amount due on the first mortgage is less than 105% of the value of the property, borrowers with more than one mortgage may be eligible to refinance under the Homeowner Affordability and Stability Plan. Your eligibility will depend, in part, on agreement by the lender that has your second mortgage to remain in a second position, and on your ability to meet the new payment terms on the first mortgage.

5. Will refinancing lower my payments?

The objective of the Homeowner Affordability and Stability Plan is to provide creditworthy borrowers who have shown a commitment to paying their mortgage with affordable

payments that are sustainable for the life of the loan. Borrowers whose mortgage interest rates are much higher than the current market rate should see an immediate reduction in their payments. Borrowers who are paying interest only, or who have a low introductory rate that will increase in the future, may not see their current payment go down if they refinance to a fixed rate. These borrowers, however, could save a great deal over the life of the loan. When you submit a loan application, your lender will give you a “Good Faith Estimate” that includes your new interest rate, mortgage payment and the amount that you will pay over the life of the loan. Compare this to your current loan terms. If it is not an improvement, a refinancing may not be right for you.

6. What are the interest rate and other terms of this refinance offer?

The objective of the Homeowner Affordability and Stability Plan is to provide borrowers with a safe loan program with a fixed, affordable payment. All loans refinanced under the plan will have a 30 or 15 year term with a fixed interest rate. The rate will be based on market rates in effect at the time of the refinance and any associated points and fees quoted by the lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans will have no prepayment penalties or balloon notes.

7. Will refinancing reduce the amount that I owe on my loan?

No. The objective of the Homeowner Affordability and Stability Plan is to help borrowers refinance into safer, more affordable fixed rate loans. Refinancing will not reduce the amount you owe to the first mortgage holder or any other debt you owe. However, by reducing the interest rate, refinancing should save you money by reducing the amount of interest that you repay over the life of the loan.

8. How do I know if my loan is owned or has been securitized by Fannie Mae or Freddie Mac?

To determine if your loan is owned or has been securitized by Fannie Mae or Freddie Mac and is eligible to be refinanced, you should contact your mortgage lender after March 4, 2009.

9. When can I apply?

Mortgage lenders will begin accepting applications after the details of the program are announced on March 4, 2009.

10. What should I do in the meantime?

You should gather the information that you will need to provide to your lender after March 4, when the refinance program becomes available. This includes:

- information about the gross monthly income of all borrowers, including your most recent pay stubs if you receive them or documentation of income you receive from other sources

- your most recent income tax return

- information about any second mortgage on the house

- payments on each of your credit cards if you are carrying balances from month to month, —-and payments on other loans such as student loans and car loans.

Borrowers Who Are at Risk of Foreclosure Are Asking:

1. What help is available for borrowers who are at risk of foreclosure either because they are behind on their mortgage or are struggling to make the payments?

The Homeowner Affordability and Stability Plan offers help to borrowers who are already behind on their mortgage payments or who are struggling to keep their loans current. By providing mortgage lenders with financial incentives to modify existing first mortgages, the Treasury hopes to help as many as 3 to 4 million homeowners avoid foreclosure regardless of who owns or services the mortgage.

2. Do I need to be behind on my mortgage payments to be eligible for a modification?

No. Borrowers who are struggling to stay current on their mortgage payments may be eligible if their income is not sufficient to continue to make their mortgage payments and they are at risk of imminent default. This may be due to several factors, such as a loss of income, a significant increase in expenses, or an interest rate that will reset to an unaffordable level.

3. How do I know if I qualify for a payment reduction under the Homeowner Affordability and Stability Plan?

In general, you may qualify for a mortgage modification if (a) you occupy your house as your primary residence; (b) your monthly mortgage payment is greater than 31% of your monthly gross income; and (c) your loan is not large enough to exceed current Fannie Mae and Freddie Mac loan limits. Final eligibility will be determined by your mortgage lender based on your financial situation and detailed guidelines that will be available on March 4, 2009.

4. I do not live in the house that secures the mortgage I’d like to modify. Is this mortgage eligible for the Homeowner Affordability and Stability Plan?

No. For example, if you own a house that you use as a vacation home or that you rent out to tenants, the mortgage on that house is not eligible. If you used to live in the home but you moved out, the mortgage is not eligible. Only the mortgage on your primary residence is eligible. The mortgage lender will check to see if the dwelling is your primary residence.

5. I have a mortgage on a duplex. I live in one unit and rent the other. Will I still be eligible?

Yes. Mortgages on 2, 3 and 4 unit properties are eligible as long as you live in one unit as your primary residence.

6. I have two mortgages. Will the Homeowner Affordability and Stability Plan reduce the payments on both?

Only the first mortgage is eligible for a modification.

7. I owe more than my house is worth. Will the Homeowner Affordability and Stability Plan reduce what I owe?

The primary objective of the Homeowner Affordability and Stability Plan is to help borrowers avoid foreclosure by modifying troubled loans to achieve a payment the borrower can afford. Lenders are likely to lower payments mainly by reducing loan interest rates. However, the program offers incentives for principal reductions and at your lender’s discretion modifications may include upfront reductions of loan principal.

8. I heard the government was providing a financial incentive to borrowers. Is that true?

Yes. To encourage borrowers who work hard to retain homeownership, the Homeowner Affordability and Stability Plan provides incentive payments as a borrower makes timely payments on the modified loan. The incentive will accrue on a monthly basis and will be applied directly to reduce your mortgage debt. Borrowers who pay on time for five years can have up to $5,000 applied to reduce their debt by the end of that period.

9. How much will a modification cost me?

There is no cost to borrowers for a modification under the Homeowner Affordability and Stability Plan. If you wish to get assistance from a HUD-approved housing counseling agency or are referred to a counselor as a condition of the modification, you will not be charged a fee. Borrowers should beware of any organization that attempts to charge a fee for housing counseling or modification of a delinquent loan, especially if they require a fee in advance.

10. Is my lender required to modify my loan?

No. Mortgage lenders participate in the program on a voluntary basis and loans are evaluated for modification on a case-by-case basis. But the government is offering substantial incentives and it is expected that most major lenders will participate.

11. I’m already working with my lender / housing counselor on a loan workout. Can I still be considered for the Homeowner Affordability and Stability Plan?

Ask your lender or counselor to be considered under the Homeowner Affordability and Stability Plan.

12. How do I apply for a modification under the Homeowner Affordability and Stability Plan?

You may not need to do anything at this time. Most mortgage lenders will evaluate loans in their portfolio to identify borrowers who may meet the eligibility criteria. After March 4 they will send letters to potentially eligible homeowners, a process that may take several weeks. If you think you qualify for a modification and do not receive a letter within several weeks, contact your mortgage servicer or a HUD-approved housing counselor. Please be aware that servicers and counseling agencies are expected to receive an extraordinary number of calls about this program.

13. What should I do in the meantime?

You should gather the information that you will need to provide to your lender on or after March 4, when the modification program becomes available. This includes information about the monthly gross income of your household including recent pay stubs if you receive them or documentation of income you receive from other sources

-your most recent income tax return

-information about any second mortgage on the house

-payments on each of your credit cards if you are carrying balances from month to month, and payments on other loans such as student loans and car loans.

14. My loan is scheduled for foreclosure soon. What should I do?

Contact your mortgage servicer or credit counselor. Many mortgage lenders have expressed their intention to postpone foreclosure sales on all mortgages that may qualify for the modification in order to allow sufficient time to evaluate the borrower’s eligibility. We support this effort.