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A Word From Roger
 A
couple of months ago I would not have guessed I'd be discussing an
environmental issue, but the oil spill in the Gulf of Mexico may have
an impact on our business and bring about circumstances that will
impact the relocation industry. It appears as though the oil
well is finally capped and there is a permanent solution to stop
the leak. However, the impact of this disaster will not be
fully known for many years to come. From an environmental
perspective this oil spill has been deemed the worst marine spill in
the history of the petroleum industry. A total of more than
4.9M barrels of oil have leaked, potentially impacting more than 600
miles of the coastal region. Along with the devastating
damage that has been caused to the wildlife, the oil spill has
affected more than 71,000 homes.
What does this mean for homeowners in the Gulf Coast region?
Real estate values have declined since Hurricane Katrina, and the
area is still trying to dig out from this disaster.
Additionally, according to CNNMoney, the area is also on course
to lose an estimated $68M in lost property value over the next year,
with more than $3B estimated to accumulate within the next five
years. As staggering as these statistics seem, the above numbers
do not even include the loss of prospective home sales in the
region, estimated at $4.3B. These statistics come at a time
when Louisiana is still recovering from the effects of Hurricane
Katrina, and Florida is still trying to mend the pieces of an already
downward spiraling economy and real estate market.
Additionally, we have no way of knowing what might happen to homes in
this area from an environmental standpoint. Will oil testing
become necessary on these properties, or will you be able to complete
a real estate transfer without new disclosures? How long will
it take for the local economy to be able to survive and grow out of
this disaster? There are many unknowns at this time, but
everyone needs to be aware that homes sales in this region will be
difficult and certainly there will be a stigma for a period of
time.
As I looked over our business in this location, WHR has over 350
transferees that are in this geographical area. Again, I don't
know the impact to specific home values, but I would speculate that
home sales will be difficult in many of these locations; especially
if the transferee recently purchased.
With all of this said, I want to make it known to our clients and
transferees that it will be our duty to ensure the relocation process
runs as smoothly as possible. WHR will execute on our
commitments and insure that transferees will be treated fairly and
equitably. Additionally, as information becomes available
WHR will be sharing this with our clients to make them aware of any
new requirements or issues. Now more than ever the WHR
service model will be important in that we offer the following:
Availability:
We will continue to be staffed 7 days a week to answer your
questions.
No Voice Mail:
You will always reach a live person and won't get put into a voice
mail loop
Single Point
of Contact: WHR Coordinators will manage each
transferee's relocation from initiation to completion
On Demand
Reporting: Clients will get required and ad-hoc
reporting on demand and in real time
It is my personal commitment that WHR will insure that each
transferee will be guided through these stressful times with the
full support of our great service teams. To our current
clients I continue to be grateful for your support and business...it
is never taken for granted. If you are interested in learning
more about WHR and how we can be a valued partner to your
organization, please contact me at roger.thrun@whrg.com or call me
directly at 262-523-7501.
Best
Regards,
Roger
Thrun
Founder
& President
Click here for a link to
our references.
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Housing Tax Credit
Closing Extension Helps Some; Others Finding Market Ripe With Good
Deals
By Phoebe Chongchua
July 16, 2010
www.realtytimes.com
 It's not a lot
of time, but a three-month homebuyer limited tax-credit extension
will help some. "I think it was one of relief by lots of homebuyers
who had loans and real estate transactions in the pipeline and
couldn't close by the June 30th deadline. The extension gives them
the opportunity to finish up their deals and close by September
30th," says Lucien Salvant, National Association of Realtors
spokesperson.
"We estimate up to 180,000" will benefit
from the extension. However, if you don't currently have a loan
application in, it's too late to take advantage of this federal
housing tax credit. "You had to have a valid contract by April
30th," says Salvant.
More...
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By Nathan Becker
Mortgage rates fell in the past week, with the average
rates on 30- and 15-year fixed-rate mortgages further extending record
lows, according to Freddie Mac's weekly survey.
Rates have been at or near record lows as the Treasury market
has rallied amid stock-market volatility, pushing yields lower.
Mortgage rates generally track Treasury yields.
The decline over the past few weeks also "echoes the recent
signs of weakening confidence in the strength of the economy,
particularly the housing and consumer sectors," said Freddie
Chief Economist Frank Nothaft.
The 30-year fixed-rate mortgage averaged 4.56% for the week ended
Thursday, down from the prior week's 4.57% average and 5.2% a year
ago. Rates on 15-year fixed-rate mortgages were 4.03%, down from
4.06% and 4.68%, respectively. More...
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HUD to Investigate Mortgage Loan Denials
By Tara Siegel Bernard
July 21, 2010
www.nytimes.com
The Department of Housing and Urban Development said Wednesday
that it would investigate the lending practices of certain mortgage
lenders to see if any prospective borrowers had been illegally denied
a mortgage because they were pregnant or on short-term disability.
"Lenders have every right to ascertain the
incomes of families to determine whether they are eligible for a
mortgage loan, but they have no right to use a pregnancy or a
short-term disability as a cause to deny that family a mortgage they
would otherwise qualify for," Shaun Donovan, the agency's
secretary, said in a statement late Wednesday.
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Recovery, Austerity and the Risks of a Double
Dip
By Diane Swonk, Cheif Economist, Meisirow Financial
View the lastest issue of Themes on the EconomyŽ,
a monthly economic newsletter written by Chief Economist Diane Swonk,
focusing on the latest trends and data exhibited in the U.S. economy.
In her July edition, Swonk discusses her global roundup for economic
recovery, sharing her outlook for key regions of the world.
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Click here to
learn more!
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Year to
Date @ WHR:
 Service Satisfaction: 92%
Amended Rate: 74.3%
Contact us and learn how
we can deliver these results for your organization!
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Transferees Speak
"Your staff is very well trained and
courteous. Thank you for all you and your team do to help those
of us who are moving. It is a very stressful time and all the
assistance you provide helps to ease some of that stress."
Ian from
Ringgold, GA
"My Coordinating Team was very proactive in
responding to my questions and concerns throughout the process. I
appreciate their sense of urgency and responsiveness."
Awan from
Sparta, NJ
"The entire package made us worry free.
Having a coordinator step by step was huge."
Gorham, ME
"My Coordinating Team has been wonderful to work
with. They are very knowledgeable and professional. It has
truly been a pleasure to work with them."
Bloomington, IL
"Overall I had a good experience during this very
stressful time. My contacts were very attentive to all the
questions and concerns I had along the way!"
Kayla from
Omaha, NE
"My Relocation Associate has been exceptional to
work with. From the first phone call he has gone above and beyond
to make sure I understood each step of the relocation process."
Adrian from
Greenacres, WA
"I have had several moves with my employer over the
last 13 years and WHR has always been courteous and helpful!"
Curtis from
"Outstanding Team - very professional and
responsive! Outstanding service - professional, courteous,
knowledgeable and responsive. Both RELO Team and Realtor should
be commended! Very satisfied!"
Natalie from
Salado, TX
"My Coordinating Team is awesome. Can't imagine a
more knowledgeable and responsive customer reps. They made relocation
so easy."
David from
"Working with a team like mine has made this
relocation stress free. I felt like they had my best interest at
heart, and because of them I have nothing but good things to say about
the relocation program."
"My Relocation Coordinator was great to work with,
if/when I relocate again I would prefer to work with her."
Liang from
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Buying
or Selling a Home?
Your
rebate will be $5.00 for each one thousand dollars of transaction
value.
Example:
Sell or Buy $200,000 home.
5.00 x 200
= $1,000.00
rebate!
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