Never Give Up!!

There are so many great things to say about the Loan Exit Option program, I don't know where to begin. So I will start from the beginning. When I was initially approached to participate in the pilot of this program, my biggest concern was the stigma that word Short Sale have. Traditional short sales on average take 60 days before a negotiator is assigned to the file. Then an additional 60 days and multiple BPO's before an approval is rendered. By this time buyers are frustrated, sellers are disc… Continue

I've prepared this blog with the hope that it will educate and streamline the process for First Time FHA Buyers and their agents when writing offers on Fannie Mae REO's; of which we should see a large supply in the near future.

Our market has changed and is not a traditional market any longer. As Realtors/Brokers & buyer's we all must adjust. Adjust to the fact that FANNIE Mae’s reo RPA supercedes all State RPAs (Residential Purchase Agreements). Fannie is also exempt from normal closing co… Continue

Well, I've bloged about this several months ago. Pre-Approved Short Sales!! I closed my first one 2wks ago and from list to close total time was 40 days. Yes 40 days, I recieved a list price 96 hours after submitting my BPO, which was priced 10K below my BPO value. I got multiple offers within he first7 days on the market and the property sold for 5K more than list price (Closer to my BPO value). My local board rules require us market any short sale as such, which in the past and sometimes hinde… Continue

I'm currently looking for a movtivated buyer's agent that can work a growing terriroty in Stockton & Lodi. If you know of anyone looking to get there feet wet in the REO business representing buyers, assisting with MSR and Prop Mgmt, send them my way.


Sincerely,

Jonathan Burgess
Real Estate Broker
NFSTI./REO-BPO Certified



You can send an email to: offer@code3realty.com

Prospects with relationships within the public safety professions are highly desirable!!!

Okay,
Can someone please shed some light on why land safe appraisers are killing sales with their values? A few years ago aren't these the same group of appraisers countrywide was using to do there loans? I have now had 2 deals go sideways because of values from appraisers (of which both have not been from the local area).

As many experienced REO agents know the banks, our clients have an appraisal on file prior to ever listing the property. On one particular home my BPO price was conservative… Continue