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February 2009 Blog Posts (26)

Are You In The Commercial Distressed And/Or Bank Owned Real Estate Assets Market?

We have an investment network with great opportunities in nationwide distressed/bank owned real estate markets. Our offerings consists of land, semi-completed residential/commercial developments, commercial properties, multi-family, large apartment buildings, resorts, hotels, portfolios and any type of real estate asset. We are always looking for new partners, offerings and investors to add to our network. If this is one of your main markets please accept my invitation to join the REOPro… Continue

Added by Carlos H. Silva Sr. on February 27, 2009 at 12:30am — 3 Comments

WARNING!! Short Sale and REO Listing Agreements open you to HUGE LIABILITY!

I am writing this blog because I came across something today that shocked me. I was reviewing a Master Listing Agreement with a massive nation wide company, who will go unnamed.



In one of it’s paragraphs it read….



“Listing Broker additionally agrees to indemnify and hold harmless the indemnitees for and from all claims brought by, through or under owner and EXPRESSLY INCLUDING WITHOUT LIMITATION THOSE CLAIMS PRETAINING TO OR ARISING FROM NEGLIGENT OR WILLFUL ACTS OF… Continue

Added by Jesus (Jesse) Gonzalez on February 26, 2009 at 10:53am — 14 Comments

NON-residential REO anyone?

Have you ever heard of anyone who ventures into NON-residential real estate? How did they do?



I've been looking around for REO agents or bank officers who find themselves trying to deal with really unique REOs to manage or dispose of. As the manager of a Marina and Boatyard operating and management company, and as a licensed commercial real estate broker and past owner-broker of two Coldwell Banker Commercial franchises, I know there must be some folks out there with a need to… Continue

Added by Stan Underwood on February 24, 2009 at 2:53pm — No Comments

Santa Cruz County Real Estate

The Santa Cruz real estate market typically trails behind the Santa Clara County market. Buyers have been waiting for the market to hit bottom. I wish I had a crystal ball and could see the future. Is the market at the bottom? We just don't know. I do know there are excellent property at good prices for buyers. You can purchase a single family 3 bedroom home for $250,000 in the Santa Cruz Mountains. Be ready to offer. The properties in Santa Cruz mountains that are priced right are selling… Continue

Added by Pam Spehar on February 23, 2009 at 11:06pm — No Comments

Apprenticeship, Experience and Referral

Apprenticeship, Experience and Referral



Ok, here it is, the secret each of you have been waiting for. I am going to tell you what it takes to become a REO Agent. Now, for some of you, this information is going to sweep over you like a tsunami while others are going to rise and surf it directly to your first REO listing.



The first concept I want to talk about is the “Apprenticeship”. Now, before I start, let me say that I don’t expect each of you to go and work for free for… Continue

Added by Jesus (Jesse) Gonzalez on February 23, 2009 at 5:11pm — 7 Comments

Agents Using Cheap Lockboxes: A Legal Liability Waiting to Happen?

Agents Using Cheap Lockboxes: A Legal Liability Waiting to Happen?



Our MLS lockboxes are very expensive - they cost just above $100. They are computerized lockboxes that take a reading of every agent showing the property. The listing agent can get on the Supra Website (the Lockbox Vendor) and ascertain exactly when the property was shown and the agent who showed it.



The agent's name, telephone number and e-mail address is included, so the listing agent can quickly follow… Continue

Added by MIRELA MONTE on February 23, 2009 at 4:01pm — 9 Comments

NationalForeclosures.com™ LLC - Is this worth the money?

We have been steadily growing our REO business this year and I am looking to expand it more. So my question is this is NationalForeclosures.com LLC - worth the money?

Any thought would be helpful.

Thanks,

Anton

Added by Anton Stetner on February 22, 2009 at 11:19pm — 1 Comment

Northern CA Buyer's Agent Wanted!!! ( Lodi & Stockton)

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… Continue

Added by Jonathan on February 22, 2009 at 11:00pm — 3 Comments

Stimulus Package And Obama Mortgage Plan...Simplified

Received this from my top Mortgage Consultant and thought it would be a good idea to share.



There has been a lot of activity this week attempting to solve the historic economic problems. No one expects this to cure the problem overnight but it could reduce the damage.



These two plans have a dramatic effect on our business. Let me try and make them easy to understand.



The $787 billion Economic Stimulus Package.



Here is how the… Continue

Added by Carlos H. Silva Sr. on February 20, 2009 at 2:56am — 4 Comments

How To Make Creative Real Estate Investing Work For You

Here's how you can make certain that creative real estate will work for you. You're taking a step that will move you from the sidelines out onto the playing field. You're making the change because you're tired of working a traditional job. Besides, you want some more excitement in your life. As a comparison let's say you've decided to take a shot at becoming a professional baseball player because you love baseball and the money players are making today seems... well, good enough to pay your… Continue

Added by NSI Consulting Group on February 17, 2009 at 11:28pm — No Comments

ASREOS (American Society of REO Specialist)…..are they FREAKING serious?

Ok, not sure who mentioned ASREOS to me but, I was intrigued none the less and that prompted me to investigate them just a wee bit. Here is what I know.



Founder Frank Patrick also founded REO Res Q, REO Renegades and American Society of REO Specialist.



To join ASREOS it cost (per their website) ….(https://members.asreos.com/public/5.cfm)



Property Preservation Monthly ($99.97)

REO Broker/Agents Silver Monthly ($99.97)

REO Broker/Agents Gold Coaching… Continue

Added by Jesus (Jesse) Gonzalez on February 16, 2009 at 12:30pm — 10 Comments

www.ForeclosureU.com....a Joke?

Well, I was doing some research on all of these companies who offer a certification program with the chance to list REO’s. Well I came across www.ForeclosureU.com and browsed over to the “Realtor Director” they have and pulled up Tennessee.



I found 10-15 agents and sent them all an email asking for their endorsement of the program. I had 5 agents reply back and out of those 5 not a single endorsement….not a one!



I asked each one if anything good came out of the program. 3… Continue

Added by Jesus (Jesse) Gonzalez on February 13, 2009 at 8:26am — 13 Comments

REO Assignments To Double In 2nd Quarter, More Foreign Investment and........Shortage Of Inventory!?

Heard this morning from a very reliable source that REO assignments are going to double for the 2nd quarter (Apr/May) of the year. Also, we should be seeing even more investment, foreign and domestic, in tangible assets such as real estate due to the oversupply of money and lack of confidence in financial markets. Would not be surprised if we see a shortage of inventory towards the end of the year. Especially since the latest policy of rental leases in lieu of foreclosure, recent short sale… Continue

Added by Carlos H. Silva Sr. on February 13, 2009 at 12:30am — 2 Comments

Fannie Mae Great Financing On REO Inventory!

Here is a post from one of my AR collegues I thought it was worth sharing:



Has Fannie Mae pulled their head out of their... sand box?



What if I told you Fannie Mae is offering special financing if you buy one of their bank owned homes? Would you believe me? Well you should because it is true!



Why does this benefit you? Well frankly... the terms of their offered financing is pretty darn sweet!



The benefits of their HomePath program… Continue

Added by Carlos H. Silva Sr. on February 12, 2009 at 2:00pm — 3 Comments

Press sheds bad light on Foreclosure Avoidance Companies.

Last night, Jennifer Kraus with my local news, NewsChannel5 did a story on a company called dont4close.com. As a part of the NC5 Investigates report Mrs. Kraus chronicled a very depressing story about a family who is loosing their home due to mortgage arrearages and were taken advantage of by a less than scrupulous man who guaranteed he could save their home from foreclosure.



As a Certified Home Retention Consultant with Titanium, when I saw the story come up, I was entranced and… Continue

Added by Jesus (Jesse) Gonzalez on February 10, 2009 at 11:26am — 1 Comment

"No thats not a mistake, we countered the buyers less on their sales price!"

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… Continue

Added by Daniel Ripper on February 6, 2009 at 6:42pm — 5 Comments

Fears Of Shrinking Induatries, Your 401k and Real Estate Investing

In most cases the Fears Of Shrinking Industries, Your 401k and Real estate Investments go hand in hand. With the current state of job securities, massive lay offs and the fear of what to do next is most thought about and one of our biggest worries today. I recently read an article about a husband and father of two who had worked in his industry for well over 20 years, and was suddenly laid off and his 401k was reduced to nothing. He was facing his biggest fears of his life, what was he going to… Continue

Added by NSI Consulting Group on February 6, 2009 at 6:05pm — No Comments

In PA liscencees cannot do BPOs.

How else can I break into the REO market?

Added by Gwynne Barnes on February 5, 2009 at 12:31pm — 2 Comments

Are You Marketing To Foreign Investors Buying US REO?

We have recently seen our REO inventory not moving as fast as it did last year. We speculate it's due to buyers who are worried about the economic turbulence. However, foreign investment in US distressed markets is on the rise. We have recently been approached by an Asian and European investment groups who are already making distressed acquisitions. They are giving us the opportunity to earn their business and be their exclusive representatives for their US acquisitions. We expect more foreign… Continue

Added by Carlos H. Silva Sr. on February 5, 2009 at 1:35am — 3 Comments

How Insulting the Seller Might Actually Buy You the Deal of the Century...







Asking price: $167,432 on a Bank Owned property in an oceanfront building where similar listings are still priced at over $200K. My investor client asked me to put in a bid for $125,000. The bank approved it. SOLD!







Asking price on a short sale: $190,000 in an Oceanfront building where similar condos are still listed for up to $300,000. My investor bid $154,000 for it. The bank finally accepted $168,000. We… Continue

Added by MIRELA MONTE on February 4, 2009 at 7:15pm — No Comments

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