Rick Hoffman
President and Chief Operating Officer
Coldwell Banker San Diego/Inland Empire
Rick Hoffman is President and Chief Operating Officer of Coldwell Banker’s San Diego and Inland Empire operations. The company operates 39 facilities with over 1,400 sales associates affiliated with the firm. Hoffman has over 35 years experience in all faucets of the real estate industry. He was the former President and Chief Operating Officer of Coldwell Banker Associates Realty, a company recognized internationally as one of the top 10 Coldwell Banker franchise operations in the world.
In his role as President of Coldwell Banker San Diego/Inland Empire, Hoffman is responsible for coordination of his award winning team, strategy and business development, marketing implementation and consumer awareness of the Coldwell Banker brand. He also oversees the Coldwell Banker Previews Program recognized world wide as one of the most effective marketing programs for luxury real estate.
Government action to aid homeowners and buyers
By Rick Hoffman
President, Coldwell Banker Residential Brokerage
Greater San Diego, Temecula Valley and Desert Regions
The Homeowner Affordability and Stability Plan, announced by President Obama on February 18 and going into effect March 4, includes $275 billion to help struggling homeowners.
It is estimated that the plan may aid up to 9 million homeowners. This new legislation includes three primary aspects:
The first part of the plan will make refinancing easier for those who hold mortgages with government-sponsored enterprises Fannie Mae and Freddie Mac. Thanks to this initiative, an estimated 4-5 million homeowners will be able to refinance for a lower monthly mortgage payment. The second part of the plan is designed to aid 3-4 million “at risk” homeowners by allowing for loan modifications. The final part of the plan is the government's $200 billion investment into Fannie Mae and Freddie Mac. This is predicted to strengthen confidence in the government-owned lenders, encourage lower interest rates and lead to an increase in lending.
In addition to the Homeowner Plan, the recent American Recovery and Reinvestment Act of 2009 includes provisions to stimulate the housing marquee. An $8,000 tax credit is available to first-time homebuyers throughout the remainder of the year. The Fannie and Freddie loan limits, which were raised last year only to revert to previous levels this year, have been returned to the higher level for at least the rest of this year. Other provisions include support for commercial real estate, low-income housing and energy-efficient housing.
We've all seen the effects of our current recession, and we in the real estate industry are no strangers to the slowdown of the housing market. However, it is our hope that these recent legislative efforts will not only aid the economy at large but will also contribute to the long overdue recovery of a shifting real estate market.
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