Michael Kelly,CDPE,CIPS,CRS,SRES

• Fly Fishing Realtors

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We met with a Sr. VP of a major bank and he reported their Short-Sales involve almost 40% of fraud and "straw-men" buyers. Their modifications hover near 68%!! When a homeowner is totally upside down they are staring into an abyss of such darkness they see walking away as the only alternative. Lastly, your one sentence really jumped out at me at the end of your article, "The first is to scrutinize the borrower's ability to repay: Is the borrower employed and what is the income of the borrower?" The essence of "predatory lending" is the acknowledgement your borrower CANNOT re-pay their debt BEFORE making them a loan! A 20% default rate is totally unacceptable! NO LENDER WHO HAS A BRAIN would tell their investors they are making loans with an assumption a 20% default rate is acceptable. 60% is sheer lunacy! Michael J. Kelly,CDPE,CIPS,CRS,SRES Keller Williams Realty 2008 #1 Single Agent for Keller Williams Santa Rosa Market Center. 2005 & 2008 "Realtor of the Year" Santa Rosa Chapter of Realtors

We seem to have some more folks signing up for our Fly Fishing Realtors group! So I took out my 6 wt Sage and 7wt GLLoomis and threw them in the back of the REO truck to refresh my stroke at the casting pond. I get over there and I forgot to CLOSE THE TAILGATE!! The 6wt Sage was gone! Yikes! I slammed the tailgate shut and retraced my steps finding it about a mile away laying there so forlorn RIGHT in the middle of Bennett Vally road OUT of harms way and in one piece! No tire tracks on its tube protector! close call. I'm heading up to the Rogue River in Oregon for some Fall Steelhead fishing with my brother Shannon. We use a guide named Steve Bonner who I reccomend very highly! I'll hoefully have some fish stories and photos to share! What are you, my fellow Fly Fishing Realtors up to? Here's to Tight Lines! Michael J. Kelly,CDPE,CIPS,CRS,SRES Keller Williams Realty 2008 #1 Single Agent for Keller Williams Santa Rosa Market Center. 2005 & 2008 "Realtor of the Year" Santa Rosa Chapter of Realtors

I was at Connect and heard this presentation and absolutely could not understand WHY Redfin was even there. They've been in the business for 3 years,have only 23 agents, and have cut their "commission back" model to stay in business. I could see him on the stage with a panel of alternative models, but to put him next to a viable, 2200 agent company simply shows how utterly pathetic Redfin's model truly is. Even their boast of having their agents outselling the industry is bogus as the Redfin model is for the agent to do nothing until the consumer calls them to write the offer. I might also add, after a "traditional Realtor" has shown the the houses they want to see! I think Brad's insight stating the "alternative" models come "back" to the traditional model is relevant as the alternative models are not working. Michael J. Kelly,CDPE,CIPS,CRS,SRES Keller Williams Realty 2008 #1 Single Agent for Keller Williams Santa Rosa Market Center. 2005 & 2008 "Realtor of the Year" Santa Rosa Chapter of Realtors