Mortgage

A mortgage is a lien on a property that secures a promise to repay a loan. The word mortgage is Latin in origin. “Mort” is from the word death and “gage” is from the word meaning a pledge. Mortgage literally translates into “death pledge.”

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Kentwood Relocation Services

Kentwood Relocation Services is very proud to announce and share with all of you our 2008 Leading Real Estate Companies of the World awards! The Kentwood Companies cleaned house this year and won 5 top awards!

For marketing:
• 1st place in Referral Promotions
• 1st place for RELO Quality Certification Promotion

Award of Excellence:
• Outgoing Referral Production
• Outgoing Sales Production

And finally the very prestigious Crown of Excellence award!

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Harvey Mackay’s Column This Week

Harvey Mackay’s Column This Week

The staying power of Paul Harvey
And now we know the rest of the story. We said a final “good day” to beloved radio commentator Paul Harvey Feb. 28. Among the many lessons we learned from him, I think one of the most important is staying power.
Paul Harvey was one of my heroes. In fact, I was scheduled to interview him this month so I could write a column about his phenomenal career. Instead, I’m writing a posthumous tribute.
Paul Harvey worked for ABC Radio Networks for more than 50 years. At his peak, he was heard on 1,200 stations and reached more than 24 million listeners. He also wrote a syndicated newspaper column carried by 300 papers. Staying power.
I loved listening to the anecdotes he shared in “The Rest of the Story,” where Paul described some element of famous people’s lives. He said the stories were intended to capture “the heartbeat behind the headlines.” With his son Paul Jr., who helped research and write the pieces, he shared moving descriptions and little-known details that explained, inspired and entertained us for more than 30 years.
The rest of his story is fascinating. Paul was born in Tulsa, Okla. His father, a police officer, was killed when Paul was a toddler. A high school teacher directed him toward a radio career because of his melodious voice. He started his career at a Tulsa radio station in 1933. And we all know the rest of that story.
He progressed from those humble beginnings to become one of the most trusted men on radio. In a tribute, ABC Radio Networks President Jim Robinson said, “Paul Harvey was one of the most gifted and beloved broadcasters in our nation’s history.”
Retirement was not on his radar. In fact, he once said, “I’d hate to get up every morning and have to play golf.” Far from that, in 2000 he signed a 10-year, $100 million contract with ABC Radio, which would have taken him past his 92nd birthday!
Staying power was evident in his family life as well. He met his future wife, Lynne (who he called Angel), while working at a St. Louis radio station. They married in 1940. She was his longtime producer, and he credited his success to her influence. She died last May. Paul Harvey Jr. said of his parents: “My father and mother created from thin air what one day became radio and television news. So in the past year, an industry has lost its godparents and today, millions have lost a friend.”
No matter how many tributes pour in, I think his own words illustrate why he has staying power. Among my favorite Paul Harvey quotes:
• “I’ve never seen a monument erected to a pessimist.” Looking for the positive and inspirational was one of the biggest reasons his listeners tuned in every day.
• “If there is a 50-50 chance that something can go wrong, nine times out of 10 it will.” A little humor went a long way in keeping his audience engaged.
• “In times like these, it helps to recall that there have always been times like these.” Truer words were never spoken—and how apropos to today’s times!
I think his apology to business owners illustrates perfectly Paul Harvey’s profound understanding of American life and business that made it possible for him to relate to us. And that’s why we could relate to him.
“You put up the money to start the business that creates jobs for the rest of us. You gather the raw materials, importing some of them, devise salable products, advertise them and sell them. You pay all the operating expenses. You pay your employees 90 percent of the dollars that are left. You assume all the risk and invest most of your profit in additional equipment, additional facilities and new research.
“You pay out in taxes three times what you pay yourself. You businessmen and businesswomen create work, goods and services. You give more generously than anybody to churches, schools, foundations and charities of all sizes.
“By any reasonable rationale, you should be the focus of a grateful nation’s primary appreciation. As a public servant and provider, you should be on the cover of Time or Newsweek. You should be heralded on CBS, NBC and ABC. You should be esteemed by your government, by the media and by your fellow man.
“You seldom are. For my part in a nonproducing profession that ridicules or ignores you, I apologize. I wish I could promise it’s going to be different, I can’t.”

Mackay’s Moral: You’ll always be among friends, Paul. Because you still have staying power.

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The Bungalow home style

The Bungalow home style was popular in the U.S. from 1905 to 1930. Bungalows featured a low-pitched roof, wide eaves with exposed roof rafters, decorative braces, and a porch with square columns. The name Bungalow is derived from Bengal, India where houses were called bangla or bangala. The Bungalow has made a recent comeback to some new home neighborhoods.

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Hall of Leaders


Hall of Leaders
The following individuals have been recognized for their distinguished and long-term service to the relocation industry. Initiation into the Hall of leaders is automatic when an individual earns four Distinguished Service awards. The following individuals are members of the Hall of Leaders.
Posthumous Inductees:
Theodore D. BellNRI Relocation, Inc.Buffalo Grove, Illinois USA
Lawrence W. Binger3M CompanySt. Paul, Minnesota USA
Thomas J. DownsThe MITRE CorporationBedford, Massachusetts USA
Richard ShillingerAluminum Company of AmericaPittsburgh, Pennsylvania USA
Paul E. Taylor, SCRPPaul Taylor Associates, Inc.Canton, Massachusetts USA

Retired Inductees:
Charles W. DeuserThe Procter & Gamble CompanyCincinnati, Ohio USA
Vin Doyle, SCRPVin Doyle RealtorsNorth Scituate, Massachusetts USA
David F. Du Mez, SCRPWeichert Relocation ResourcesHighlands Ranch, Colorado USA
C. Marvin Mandery, SCRPGeneral Mills, Inc.Minneapolis, Minnesota USA
Diane M. Price, SCRPSamson CompaniesTulsa, Oklahoma USA
David M. Rapp, SCRPCARTUSDanbury, Connecticut USA
Active Members:
Beth Archibald, SCRP, GMSArchibald RelocationPortland, Oregon USA
Beverly J. Berberich, SCRPMerchant’s Moving & StorageRacine, Wisconsin USA
May Caffi, SCRP, GMSMarriott International, Inc.Washington, DC
John M. Clarke, SCRPFMC Technologies IncorporatedChicago, Illinois USA
W. Thomas Cryer, SCRPThe Kentwood Company Greenwood Village, CO
Kathleen M. Curtis, SCRP, GMS Cisco Systems, Inc.San Jose, California USA
Gail S. Davis, SCRP, GMSErnst & Young, LLPCleveland, Ohio USA
Terry Baxter Davis, SCRP, GMS Ernst & Young LLP Cleveland, Ohio USA
Shelley A. Giles, SCRP, GMSTenet Healthcare Corporation Dallas, Texas USA
Freda Ingram-Brown, SCRPBank of America NACharlotte, North Carolina USA
Kevin J. Lanagan, SCRPSocial Security AdministrationBaltimore, Maryland USA
G. Michael Loewe, SCRP, GMS Lion Mobility Consulting ServicesBoothbay, Maine USA
Lisa Milovanovic, SCRP, GMS PepsiCo Inc. Plano, Texas USA
Jeffrey G. Otteau, SCRP, IFAThe Otteau Appraisal Group, Inc.East Brunswick, New Jersey USA
Kevin E. Rich, SCRP New World Van LinesSouth Hamilton, Massachusetts USA
Sharon J. Richards, SCRP, GMSConsultant, International InitiativesSanta Clara, California USA
Charles (Chip) G. Roach, SCRP Prudential Fox & Roach RealtorsMalvern, Pennsylvania USA
Steven E. Rogers, SCRP, GMSCITGO Petroleum CorporationHouston, Texas USA
Arnold M. Schwartz, SCRP, SRAArnold M. Schwartz & Associates, Inc.Atlanta, Georgia USA
Jill Silvas, SCRPMorgan Lane Sonoma, California USA
Jill Mikes Taylor, SCRP, GMSGMAC Global Relocation ServicesWoodridge, Illinois USA
Bruce W. Walczak, SCRP, GMSRelocation Consultants, Inc.Ridgefield, Connecticut USA
Peter H. Wayman, SCRP, GMSCARTUSDanbury, Connecticut USA
Gloria Winkelmann, SCRPWinkelmann RealtyFullerton, California USA
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REO Rescue Services

December 8, 2008
FOR IMMEDIATE RELEASE
(For more information contact Douglas E. Lierle at 303/792-0507)

Roy Lopez, Tom Cryer of The Kentwood Company form
REO Rescue Services

DENVER – Roy Lopez and Tom Cryer, two leading broker associates with The Kentwood Company in the Denver Tech Center, have joined forces to form The Kentwood Company REO Rescue Services. Lopez and Cryer bring years of experience to a problematic process. The new entity provides “Asset Resolution Done Right the Very First Time!”

Kentwood’s REO Rescue Services provides customers with timely BPOs, an experienced, full-time professional marketing team, a complete suite of complimentary services, a buy-out program, and prompt availability.

“We bring years of experience in asset disposition and acquisition,” said Lopez. “The team benefits from Colorado’s Premier Real Estate Company are unsurpassed, including a full-time marketing staff to a front desk that is actually staffed. Our support team works directly with us to enhance our all-encompassing ‘concierge’ service for your asset resolution needs.”

“We provide great response times, concerted marketing efforts, professional representation of your inventory, and timely closure for your transactions,” said Cryer. “The Kentwood Companies provide concrete support and unmatched market exposure to your inventory. We are locally owned and operated with multiple Denver area offices and on-site management for a truly winning combination.”

The Kentwood Company REO Rescue Services is distinguished by accurate and timely BPO reporting, property preparation services, award-winning marketing programs, and timely reporting of marketing results with recommendations. Clients enjoy contract advocacy to achieve the highest values possible, management of closing services, title, escrow, legal, buyer’s lender, and much more. The team also provides a well-defined guaranteed buy-out program.

Roy Lopez and Tom Cryer bring more than 30 years of REO experience to the team, plus international real estate leadership and long-term relationships with management companies. The team provides a solid foundation in REO property valuation and brokerage experience that transcends the mainstream.

For more information on how to enjoy asset resolution done right the first time, contact Tom Cryer and Roy Lopez at 303-773-3399, toll free 1-800-723-7653, and visit online at www.ReoRescueServices.com for additional information.

The Kentwood Companies are dedicated to its legacy of being “Colorado’s Premier Real Estate Company” through the highest producing, most knowledgeable, caring and experienced sales team in the country, offering the highest quality customer service experience. The Kentwood Companies are innovators known for unparalleled marketing strategies and superior Internet technology that places its clients in the best possible position.

For more information, visit The Kentwood Companies online at www.KentwoodRealEstate.com.

# # #

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MEDIA INSPIRED FEAR IN THE MARKET

FACT vs. FEAR
Here are some bullets about our housing market that should dispel some of the myth in the media, the fear of the market, and the speed at which this market could turn around:
· 76,000,000 Homeowners in the USA
· 24,000,000 Of those homes are owned free & clear
· 52,000,000 Have mortgages in place
· 97.2% Are not in foreclosure
· 93.8% Are current
· 20% Owe more than the value of their home
· 40% Of the foreclosures are not owner occupied
· $11.7 Trillion of American’s wealth is in Money Markets, CDs or Treasury Bills
Sounds like a lot of us are hard working, saving, responsible Americans.
What about the GREAT DEPRESSION vs. 2008?
· In 1930 1000 banks failed
· In 2008 14 banks failed
Here are some facts about the residential market in the US of A:
· In the 1970s we averaged 3,000,000 residential transactions per year with a high of 3,900,000
· In the 1980s we averaged 3,300,000 residential transactions per year with a high of 4,000,000
· In the 1990s we averaged 3,900,000 residential transactions per year with a high of 4,900,000
· In the 2000s we averaged 5,600,000 residential transactions per year with a high of 7,200,000
I would argue values in our market were artificially inflated by extremely liberal financing terms. What are your thoughts?
Information obtained from sources believed to be reliable,
but no guarantees are inferred by its publication.
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MyTownCryer Denver Market Watch
THIRD QUARTER 2008
BY TOM CRYER, BROKER ASSOCIATE, THE KENTWOOD COMPANY
303-773-3399 / 800-723-7653

Turmoil in our securities markets, with our financial institutions, and in our own real estate market is always a frightful. As a result, I have taken my semi-annual Denver Market Watch report quarterly to keep everyone up to date. As you read on and examine my charts, you will understand my perspective when I tell you this is just another blip. As the World Turns; so will Denver’s residential real estate market.
As an example, The History of Average Prices below shows quite a drop in average price for SSE. Don’t worry, this has happened before. If you were to look at The Market Share by Price Range, further down the page, you will see that between $750K and $1M and $1M up, we have had a substantial drop in the percentage of sales activity. The SSE MLS area enjoys the greatest number of +$750K transactions. As a result, when this market segment has a reduction in closings, the average price for the entire MLS area falls.

I like to direct my customers and clients to the notion of affordability. When we are perceived as an affordable market, we attract new business and the employees that follow. With 84% of our MLS transaction activity occurring at or below $400K, we have to be considered an affordable market. On the other hand, with only slightly more than 4 months supply in this market segment as noted below, we are on the precipice of change. Historically, should this fall below 4 months supply, we will start to see a dramatic change. This ratio was over 6 months in June of this year. It doesn’t take long for inventory to disappear at ratios below 4 months. If everything were to work in harmony (rates, available credit, fuel costs, etc), we could have an early change in this market segment well before my 2010 pontification. Keep your eyes peeled.

MARKET SHARE BY PRICE RANGE THIRD QUARTER 2008
We read much about our foreclosure problems throughout the Metro area, and no county is left unscathed. A myriad of reasons exist for the extraordinarily high numbers, but my estimates for 2008 are based on 3rd Quarter results annualized toward the end of the year. This is basically 600+ foreclosures per week in the metro area. This unequivocally alters the landscape. Not only with yard signs, but family displacement, investment dollars lost, and neighborhood reputations diminished. A similar cycle occurred in the Denver Metro Area during the mid to late 1980s. Remember the RTC days? Denver recovered from that negative cycle, and we had 10 uninterrupted years of relative residential real estate prosperity. I’m predicting another rebound, and I’m suggesting that it could come as soon as 2010.
Depending on what happens on Wall Street and at Pennsylvania Ave., we are already seeing some of the same signs from the late 1980s emerge again. The pendulum swings, and it appears to have started its swing in the direction of positive absorption again. Granted, sellers have removed their homes from the market, and this has reduced inventory, but we have clearly started a trend of positive absorption. The availability of credit will weigh heavily on the success of this swing. The quality lenders of the past are clearly working to keep our buyers viable in this market. But, we are even starting to see owner carry or seller financing being talked about. What’s old is new and what’s new is old; the pendulum swings!
THE HISTORY OF FORECLOSURE ACTIVITY – DENVER METRO AREA
I can report on the history of sales in our MLS system over the last 30 years, because I’ve been there, and I have the evidence to show below; it’s happened before and it will happen again. During 1977-1978, 1991-1993, and during 1999 into 2000 we had rapidly appreciating markets with multiple offers on listings. Each one of these periods of high demand was subsequently followed by periods of weak demand. During the late 1980s and mid 2000s we have had severe negative influences on our market from foreclosure inventory. If history repeats itself, and it always does, this should put us somewhere in the next 12 to 24 months for a significant rebound. How’s that for a crystal ball?
In closing, this report will be updated again shortly after year’s end. The Year End report always has a substantially more accurate data set. By then there are no more estimates, the numbers are hard, and graphics can be inked permanently. Let’s all pray for the trend to continue in the right direction. We could all use a little good news come New Years!
Information obtained from sources believed to be reliable but not guaranteed.
Data obtained from Metrolist, Inc., Rocky Mountain News, & Denver Board of Realtors.
Compiled by Tom Cryer, SCRP Broker Associate with The Kentwood Company.
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A Tribute to H. Cris Collie

Tom & Dee Cryer Attend, “A Tribute to H. Cris Collie”

November 1, 2008 in Washington, DC

by Worldwide ERC.

After 36 years at the helm of what is now Worldwide ERC, The Workforce Mobility Association, H. Cris Collie has passed the torch.
A fabulous evening and a fabulous tribute to a man whose tenacity grew AREAC into ERC to what is now Worldwide ERC. As a table sponsor to for Cris’ Foundation, Tom & Dee were front row and center for all the activities of the evening.

As a professional organization offering global mobility solution education, Worldwide ERC enjoys preeminent status as the one professional organization uniting all the skill sets necessary to facilitate global mobility.

With the retirement of Cris Collie, Lynn M. Bragg has been named the new chief executive officer of Worldwide ERC®, the workforce mobility association, effective November 21, 2008. Bragg will succeed H. Cris Collie, CAE, who will retire in December 2008 after a distinguished 36-year career.

As a frequent presenter, Member of Worldwide ERC’s Hall of Leaders and holder of the SCRP certification from Worldwide ERC, Tom Cryer and his wife Dee enjoyed many old friends and conversations throughout the evening with an international crowd on hand of more than 500 guests.

To learn more about Cris and his legacy at Worldwide ERC please take the time to visit:
http://www.loremagazine.com/go/article_free.php?mp_id=333
http://www.erc.org/
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