Got REO?

This week Governor Schwarzenegger signed several pieces of legislation into law that will affect real estate transactions in the state of California

SB 36, by Senator Ron Calderon (D-Montebello), creates licensing requirements for all residential loan originators.

SB 237, by Senator Ron Calderon (D-Montebello), creates a registration program for appraisal management firms.

SB 239, by Sen. Fran Pavley (D-Agoura Hills), makes it a felony to commit fraud on a mortgage loan application.

AB 260,… Continue

While most of the REO agents in my area sit, twiddling their thumbs waiting for this Tsunami/Shadow Inventory/Wave to hit, I've been blessed with keeping a flow of inventory hitting the market making me one of the more "popular" agents on the block. While this is good for my business, keeping me and my staff busy, I've had the unfortunate experience of dealing with buyers agents who are unhappy, frustrated, or just downright negative. They continously complain, threaten me, tell me how to run my… Continue

In the last couple of weeks, I've had a number of choice listings enter the market at what I figured was a good market price based on my evaluation. Within hours of some of these listings, I had multiple offers, competing buyers, higest and best, etc.. Some of these offers went above asking by as high as 25%!

1st scenario: The sellers didn't take the strongest offer with the bottom line (yes they were well qualified with an 80% downpayment) They took the second best which was all-cash but 25K l… Continue

Hey I just got back from the 5 Star Convention and I must say that I wasn't really impressed. It was a madhouse with about 90% agents and the rest being servicers, AMs, etc. I did however make some good contacts, pressed the flesh, and gotten an idea or two that I will put into place. I wanted to get others thoughts on who attended and what their opinons on the whole thing was. Let me know!

I would like to hear from some of the members on their opinions of software for their workflow. What kind of management tools are you using for your business and how do you like them? Franklin Covey organizers? Outlook? REOMaestro? AgentOffice?