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Happy Thanksgiving all!
1 Reply

Started this discussion. Last reply by Juan Avila Nov 26.

New REO's Jump 22 Percent in California, from DSNews

Replied Nov 19

REO vs. Short Sales...Where's This Thing Going!?

Replied Nov 19

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Search for an REO Professional by entering your zip codes in this format XXXXX, XXXXX,

92539,92220,92223,92320,92587
92879,92880,92881,92882,92883,92543,92544,92545,92548,92530
92532,92254,92584,91752,92551,92553,92555,92557,92561,92562
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I service the following counties.....

North Orange, Riverside, San Bernardino

WWW.XCELREO.COM

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California

I have the following REO Certifications, Designations and Memberships

RDCpro,Default school certified. REOnetwork (premium partner), RESnet, REOtrans.

The Xcel Team is an experienced REO team who understand the needs of Asset Managers. Our professionals make communication our first priority as we recognize that we are your eyes in the field. Our team has specialists in BPO's, Property Preservation, Billing, Property Management and most importantly Marketing. We strive to get the most pull through with our web sites, www.xcelreo.com & calreoproperties.com to get your asset sold faster, and we have the financial ability to market the property throughout the life of the listing. We look forward to working with you!

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Michael Howard's Blog

Whats Next?

So…Where are we heading in this market? Countless moratoriums at the Federal and State level. Moratoriums from the banks themselves trying to work out loan mod’s. Local Judges refusing to evict homeowners., Local sheriff’s doing the same. Now we have programs like HAMP and Court decisions like National Bank v. Kesler. There is such an underpinning of resentment from the American people against not only the Banks but corporate America as well. Will this sentiment continue to stall the inevitable?… Continue

Posted on October 1, 2009 at 8:30pm — 1 Comment

Another housing slump coming?

From MSN Money today. BofA and Wells Fargo have both been on the record stating that the "shadow inventory" does not exist. This is the third published report I have read that sates otherwise. As servicers continue to trickle product into the market there is a strong chance that this will prolong the housing slump for more than originally thought. The tsunami we have all heard about, while driving prices continually lower might rid the market of this distressed inventory faster and perhaps ha… Continue

Posted on September 24, 2009 at 7:30pm — 2 Comments

Deutsche Sees 48% of All US Mortgages Underwater in 2011

These are staggering numbers. I heard a lecture from an analyst from Anderson School of Business at UCLA which was a bit gloomier than this but these are some of the gravest predictions I have seen in print. Will we see more aggressive programs from the administration to combat the forecasts? The various moratoriums so far have had less than robust results. A contact at Wells Fargo tells me they have had less than a 1% success rate in loan mods. I can't see a substantial turn around until at lea… Continue

Posted on August 7, 2009 at 9:45am — 4 Comments

Low-End Sales Rocket in California

Once again misinformation hitting the media! What this article doesn't say is that inventory in California has decreased primarily due to lack of new foreclosures coming on the market. Like most REO brokers in California I have watched my inventory shrink month after month as moratoriums from various institutions have worked themselves through fruition. In addition the banks have been holding back inventory trying to change the Mark to Market valuation system. A quick look at the mls will tell y… Continue

Posted on June 3, 2009 at 7:14pm — 7 Comments

Foreclosures Still Rising, Delinquencies See Small Seasonal Drop

Foreclosure starts are continuing to rise to record highs but total delinquencies fell in March to 7.88%, a month-over-month decrease of 5.8%, according to the April 2009 LPS Mortgage Monitor from Lender Processing Services, Inc., Jacksonville, Fla. The seasonal February to March decline in delinquencies in the five years from 2002 to 2007 averaged 14%, and the number of newly delinquent loans saw a greater decline in March compared to 2008. March's foreclosure rate was 2.52%, reflecting a month… Continue

Posted on May 1, 2009 at 1:42pm —

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At 8:19pm on August 4, 2009, Diana Mojica said…: Hello Michael! I have client looking for properties in Fontana, Rancho Cucamonga & South Corona. Do you have any listings in these areas?

At 2:48pm on April 13, 2009, Diana Mojica said…: Hi Michael!

Your right! Elm Grove..

At 10:37am on April 11, 2009, Lily Sibrian said…: Hi neighbor,
Which prudential are you at?

At 6:17pm on March 28, 2009, Chad Nichols said…: How do you currently secure properties that have the things you mentioned occuring to them? You mentioned vandalism, theft, gang activity..what do you do to prevent that? I imagine that also makes the property harder to show?