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January 2011 Blog Posts (32)

JESSE'S RADIO SHOW IS THE BEST!!!

Are all of you listening to the radioblog jesse does ?

well Nicole Ocean and I where the guests this week and it was great being on!

Listen today and you will pick up some very good tips and tricks for the BPO agents!!

 

Added by Angel Caso on January 28, 2011 at 2:03pm — 1 Comment

Freddie Mac Weekly Update: Bond Yields Rise and So Do Mortgage Rates



30-year fixed-rate mortgage: A…

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Added by Howard Bell on January 27, 2011 at 7:08pm — No Comments

Mortgage Bankers Weekly Update: Applications Decrease

                                             Mortgage Bankers Association for the week of 01/5/2010



Market Composite Index: (loan application volume) d ecreased 3.9 percent on a seasonally adjusted basis from the prior week. For the week ending December 31, 2010, this index increased 2.3 percent on a seasonally adjusted basis.



Refinance Index: decreased 7.2 percent from the previous week and the seasonally adjusted Purchase… Continue

Added by Howard Bell on January 27, 2011 at 7:08pm — No Comments

JOINING MY LOCAL NATIONAL HISPANIC ASSOCIATION OF REAL ESTATE PROFESSIONALS IN PHOENIX, ARIZONA FOR $50 Yes, this is me looking to network with other real estate professionals in Phoenix real estate…

JOINING MY LOCAL NATIONAL HISPANIC ASSOCIATION OF REAL ESTATE PROFESSIONALS IN PHOENIX, ARIZONA FOR $50



Yes, this is me looking to network with other real estate professionals in Phoenix real estate market. Also, I wanted to learn more this year about first time Hispanic home buyers and assisting Hispanic real estate investors. Did you know the number one need…

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Added by HARRY F. D'ELIA III on January 27, 2011 at 8:18am — 7 Comments

TARP Hurting More Than Helping

TARP Hurting More Than Helping

Per The Office of the Special Inspector General for the Troubled Asset Relief Program…..

“Unless and until institutions currently views as “too big to fail” are either broken up so that they are no longer perceived to be a threat to the financial system, or as structure is put in place that gives adequate assurance to the market that they will be left to suffer the full consequences of their own recklessness, the prospect of more bailouts will…

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Added by Jesus (Jesse) Gonzalez on January 26, 2011 at 4:19pm — No Comments

I HATE TO BREAK THE BAD NEWS TO REALTORS. THE BPO FAIRY DOES NOT EXIST!

I HATE TO BREAK THE BAD NEWS TO THE GROUP. THE BPO FAIRY DOES NOT EXIST!

 



I hate to break the bad news to the group. The BPO fairy does not exist. Yes, I know it is a shocker. My son turned nine this year. He informed me that he no longer belives in Santa…

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Added by HARRY F. D'ELIA III on January 26, 2011 at 9:17am — 12 Comments

Listing Agent Mistake Part 1

Listing Agent Mistake Part 1

 

It has always amazed me why I get the following call

“ring, ring”---“ring, ring”

Jesse Gonzalez: Jesse Gonzalez

Suzy Super Buyer Agent: May I speak to Jesse Gonzalez

Jesse Gonzalez: Speaking

Suzy Super Buyer Agent: Oh…Hi Jesse, my name is Suzy and I am calling about that property you have listed on 19th Ave., are you working any offers?

Jesse Gonzalez: I don’t speak about the details of any of…

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Added by Jesus (Jesse) Gonzalez on January 25, 2011 at 6:05pm — 23 Comments

Value and Declining Market

Value is the result of what anyone will pay to acquire the property.(maybe not). I believe a property listed at a certain price and does not sell becomes an overpriced listing. Therfore, seller is reducing the price unitil sold and we have the value. Value is linked to price through the mecanism of exchange. Part of this process is the BPO we are doing and which determine the value based on the best similar properties recently sold and presently listed . We realize this property is…

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Added by Alain Thillois on January 24, 2011 at 12:21pm — 1 Comment

Mortgage Bankers Weekly Update: Mortgage Purchase Applications Increase

Mortgage Bankers Association for the week of 01/12/2010



Market Composite Index: (loan application volume) increased 2.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 47.5 percent compared with the previous week



Refinance Index: increased 4.9 percent from the previous week. The seasonally adjusted Purchase Index decreased 3.7 percent from one week…

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Added by Howard Bell on January 24, 2011 at 12:04am — No Comments

Freddie Mac Weekly Update: Mortgage Rates Down for Second Week

30-year fixed-rate mortgage: Averaged 4.71 percent with an average 0.8 point for the week ending January 13, 2011, down from last week when it averaged 4.77 percent. Last year at this time, the 30-year FRM averaged 5.06 percent.



The 15-year fixed-rate mortgage: Averaged 4.08 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.45 percent…

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Added by Howard Bell on January 24, 2011 at 12:04am — No Comments

I have been ask by many new REO agents what timelines do banks normally have?

This is a timeline that I hope everyone will find useful. This is just what I have found to be the norm. If in doubt always best to check with your asset manger unless directed to send questions to their pre marketer.

 

 

Agent Task

Deadline (from when task is opened)

Accept/Reject…

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Added by Brandon Jordan on January 23, 2011 at 2:42pm — 1 Comment

Regulators to Release Results of Foreclosure Probe Next Month

The task force assembled by federal banking regulators to investigate the industry’s servicing and foreclosure practices is expected to release the results of its findings as early as February.

The Federal Reserve, FDIC, Office of the Comptroller of the Currency (…

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Added by Linda McKissick on January 19, 2011 at 10:06am — No Comments

brokerpriceopinion.com does not pay

Anyone who has done bpos for brokerpriceopinion.com (or any other bpo company) and has not been paid for bpo services rendered needs to speak up and report them; first, to the Colorado Better Business Bureau, second, to the Colorado Attorney General's office, and third, to NABPOP. I am in battle to get paid and have filed complaints with the above mentioned. If enough complaints are made, we can stop them from this type of…

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Added by Bonnie DeMartino on January 18, 2011 at 3:23pm — 11 Comments

Chinese Yuan replaces American Dollar as World Currency

For well over 2 years, I have been reading article, listening to financial experts, watching the systematic devaluing of the American Dollar, watching commodity prices sky rocketing, seeing energy prices increasing and watching our Federal Reserve providing bailout after bailout. In my opinion, you add up all of these factors and you get a situation where the US Dollar becomes so weak that it can’t not trade against foreign currencies, ie….the Chinese Yuan.

It has been my stance,…

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Added by Jesus (Jesse) Gonzalez on January 17, 2011 at 8:57am — No Comments

Arms Length Short Sale Transactions: Are They Too Onerous?

Arms Length Transactions in Silicon Valley Short Sales Is It Too Onerous?

When a seller sells their home as a short sale, most lenders  will make everyone, the buyer, the seller, and the agents sign and notarize an Arms Length Transaction document. This states that the sellers and buyers do not know each other, are not related, and the seller will never again, EVER, live in the house , or ever make any profit off of the sale of the home. They can never rent the house or ever buy it…

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Added by Marcy Moyer on January 16, 2011 at 1:33pm — 1 Comment

CrestviewREO.com is your area REO.com available?

This would be my suggestion to anyone starting out. There are many emails I receive everyday about buying a domain name for any of the listings that I currently have.I would say before you think of buying a website like this, go to a domain name register and look up your area that you cover.

 

It may be more difficult if you are in a larger city but this might suprise you if you are in the burbs or in a rural area. I was writing this post and as I was writing it I went to a…

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Added by Brandon Jordan on January 15, 2011 at 11:45pm — 1 Comment

Mortgage Bankers Weekly Update: Mortgage Refinance Applications Increase

Mortgage Bankers Association for the week of 01/12/2010



Market Composite Index: (loan application volume) increased 2.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 47.5 percent compared with the previous week



Refinance Index: increased 4.9 percent from the previous week. The seasonally adjusted Purchase Index decreased 3.7 percent from one…

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Added by Howard Bell on January 15, 2011 at 10:48pm — No Comments

Freddie Mac Weekly Update: Long and Short- Term Mortgages Drop This Week

30-year fixed-rate mortgage: Averaged 4.77 percent with an average 0.8 point for the week ending January 6, 2011, down from last week when it averaged 4.86 percent. Last year at this time, the 30-year FRM averaged 5.09 percent.



The 15-year fixed-rate mortgage: Averaged 4.13 percent with an average 0.8 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 15-year FRM averaged 4.50 percent.



Five-year… Continue

Added by Howard Bell on January 15, 2011 at 10:48pm — No Comments

ITunes U

I know I may be a little late to the party (I am sure many of you are aware of this already), but after purchasing my IPad, I discovered ITunes U in the ITunes store.

ITunes U is a wealth of free lectures, seminars and educational videos. I have downloaded and watched several from the Khan Academy on Banking and Money as well as a lecture from Stanford University on Stocks.

There are topics that range from robotices and Black Hole theorys to music and theology. Anything you…

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Added by Nick Miller on January 14, 2011 at 3:28pm — 1 Comment

How Do I Get My Next REO Listing?

Ok, I was reading Jessie's 2011 take on "How do I get my first REO listing?" and it got me thinking. So many agents think that once they get an REO listing they'll be on the easy money train. It just does not work that way. If this is the niche you decide to choose, be prepared, it is not glamorous.

First there are the properties, sure you might get lucky and get some 3 year old mini mansion, but more likely you'll get a mixture of suburban and urban properties to sell. In the past…

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Added by Billie Dalessio on January 13, 2011 at 10:02pm — 26 Comments

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