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March 2009 Blog Posts (39)

REO Little Known Secret To Great Investments

Everyone knows REO properties can be purchased at discounted rates and that they are great investments. What not many know is that high end homes are even better bargains and in most cases can be purchased at even bigger discounts than your typical REO property. It is not uncommon, in our market, to purchase a property valued at $2million for $1 million. Here are some of the reasons why that market offers great deals:



1. Fewer buyers in this market.



2. Misconception jumbo… Continue

Added by Carlos H. Silva Sr. on March 31, 2009 at 3:15am — 2 Comments

Bulk REO Purchases

Hello everyone,

Bulk REOs seem to be an untapped market to most realtors because either many don't know hot to tap into it or don't know the process. However, even though it can be a tedious transaction, it can be very profitable as well. If anyone has investors who are looking into purchasing bulk REOs, but you don't know where to find them, feel free to contact me. My partner and I work directly with compilers at major banks and hedge-funds that are unloading big blocks of REOs. Banks… Continue

Added by Lily Sibrian on March 30, 2009 at 6:33pm — 5 Comments

What is your BATNA?

If you have ever read the book Getting To Yes by Roger Fisher and William Ury, or a number of other books on negotiations, you would know that BATNA stands for Best Alternative to a Negotiated Agreement. Developing your BATNA, or knowing your BATNA, before going into negotiations will greatly increase you chance of achieving favorable terms in a negotiation. So, what is your BATNA?



Whether you know it or not you have a BATNA. Your BATNA may not be that attractive. It could be as… Continue

Added by Nick Miller on March 30, 2009 at 4:39pm — 1 Comment

Why does 1 agent get all the listings?

Many factors go into answering this question and the truth is, I don’t have the time to explain each one so, let me give you my top 3.



1. REO Experience = REO Listings; I know for many of you, this fact is frustrating but, it’s a fact none the less. Why is this the case, you may ask? It boils down to what “Experience” really represents. In other words, if you have REO Experience then you have a direct knowledge through direct exposure to REO and, therefore you have the “know how” or… Continue

Added by Jesus (Jesse) Gonzalez on March 29, 2009 at 5:26pm — 11 Comments

Raleigh North Carolina Ranks top job growth, low business costs and highly educated workforce for 3rd year

By Kurt Badenhausen, Forbes.com

Mar 26th, 2009

ARTICLE TOOLS: Email article Printable view IM article Save to del.icio.us Bookmark

Raleigh, N.C., and its fellow Tar Heel metros shine in our annual look at America's largest cities.

The economy shed 651,000 jobs in February and 4.4 million since the recession began in December 2007. Only a handful of metro areas have escaped falling employment over the past three months. Yet there are still some places out there that… Continue

Added by Amelia Pleasant on March 29, 2009 at 2:55am — No Comments

Formula For A Successful Real Estate Career

Agents often ask me what it takes to be a successful real estate agent and I have come up with a list of what helped me become #1 in listings, sales and AGC in my former office. Here is what is crucial to having a successful career:



1) Close On Time-Close of Escrow means it has to be funded and recorded by that date. It is not a target date!



2) Easy To Work With-Be accessible to your clients and make them feel comfortable enough to contact you with any questions or… Continue

Added by Carlos H. Silva Sr. on March 27, 2009 at 1:58am — 1 Comment

REFERRAL FEE!!!

I KNOW MANY AGENTS IN YOUR AREA ARE NOT WILLING TO TELL YOU WHERE YOU CAN GET REO LISTINGS BECAUSE THEY THINK THAT YOU ARE GOING TO STEAL THEIR CLIENTS, ANY WAY I AM WILLING TO PAY REFERRAL FEE FOR ANY ONE HELPING ME OR GIVING ME THE CONTACTS TO GET DEALS IN UTAH.

reo4utah@innovarealtyinc.com

Added by Hector Delgado on March 26, 2009 at 11:30am — 4 Comments

REO Agents Who Monopolize Listings

This question is for the asset managers if they visit this site. When you usually assign REO properties do you give 300 to one agent? Or do you assign to a certain real estate office and they should distribute among their agents who do REOs? I would like to hear others on this site if they heard of one agent getting so many. The reason I am asking I had a recent incident where I could not reach the agent to find out how we can get into the garage on the property. He never called me back and my… Continue

Added by Donna Lavin - CDPE, SFR on March 22, 2009 at 11:45am — 24 Comments

"Getting Tough" with Predator Financial Institutions

AIG, Larry Summers and the Politics of Deflection



Finally the US authorities have gotten ‘tough' with the predator financial institutions. The world has been waiting for such decisive intervention since an unending series of Government bailouts of financial institutions began early in 2008 amounting to now trillions of taxpayer dollars. Now, with the world's largest insurance giant, AIG, the White House Economic Council chairman, Larry Summers has expressed ‘outrage.'… Continue

Added by Carlos H. Silva Sr. on March 20, 2009 at 12:37pm — No Comments

The Financial Sector: "A House Burning Down" Ben Bernanke's False Analogy

On the March 15 CBS show "60 Minutes", Federal Reserve Chairman Ben Bernanke used a false analogy already popularized by President Obama in his quasi-State of the Union Speech. He likened the financial sector to a house burning down – fair enough, as it is destroying property values, leading to foreclosures, abandonments, stripping (for copper wire and anything else recoverable) and certainly a devastation of value. The problem with this analogy was just where this building was situated, and… Continue

Added by Carlos H. Silva Sr. on March 18, 2009 at 11:40pm — 1 Comment

The Real AIG Conspiracy!

It may seem odd, but the public outrage against $135 million in AIG bonuses is a godsend to Wall Street, AIG scoundrels included. How can the media be so preoccupied with the discovery that there is self-serving greed to be found in the financial sector? Every TV channel and every newspaper in the country, from right to left, have made these bonuses the lead story over the past two days.



What is wrong with this picture? Is there not something over-inflated about the outrage led most… Continue

Added by Carlos H. Silva Sr. on March 18, 2009 at 11:00pm — 2 Comments

Anyone heard of www.foreclosurepoint.com??

I've now recieved over 4 calls since this past Sunday from this company called Foreclosure Point. I finally called back and spoke to somone named Kathie Cornett who says they find REO Listing Agents. She also said they are in the process of connecting with Asset Manager's who will be using this site to hire new REO Agents. I'm not sure if I believe this. I've checked their site out a bit and the nice thing is that it's free to consumer's but there is a Annual fee of $599 for Listing Agent's… Continue

Added by Michelle McPherson on March 18, 2009 at 6:30pm — 5 Comments

Smaller banks are still assigning REO and Tsunami to come!

We are still getting REO assignments from the smaller banks that are not participating in the moratorium and Re assignments. Waiting for moratorium to be lifted. I must say that they need to get the backlog of properties on the market and sold so we can get to a more normal supply and demand situation. Until that happens, prices will continue to drop which is not a good thing.

Added by John Marker on March 18, 2009 at 7:35am — 1 Comment

AIG Bonuses . . .

My blog is simple . . . What?? Why?? Someone please explain this to me. Everyone is worried about the preservation of contract law. Does anyone realize that if we didn't bail them out, they would have been in bankruptcy and there wouldn't have been any bonuses??? I don't get it.

Added by Jamie DePauw, CDPE on March 15, 2009 at 2:15pm — 18 Comments

My top 8 New REO Agent Blogs

I get asked a lot about what advice I can give a new REO agent. Many times those conversations revolve around how I can help them get into the business.



When this comes up I always stop and ask myself, “Do you think they read your blogs?” and typically the answer is no, they just simply asked me before even trying to get to know who or what I am all about.



Well, that brings me to my top 8 blogs for new REO Agents (See Below). If you are a new REO agent and looking to get… Continue

Added by Jesus (Jesse) Gonzalez on March 15, 2009 at 10:01am — 7 Comments

Real Estate & REO Outlook for 2009

It's been a while since my last blog post - too long! It's not because I'm lazy, it's because of my crushing workload. My team has been expanding to keep up with it all, but even so, I find myself at least as busy as ever, and possibly even more so.



I wanted to share with you all my view of where we are headed for the rest of the year. There's a lot of talk about bail-outs and hitting the bottom and market rebounds, and there's also a lot of talk about falling off the economic cliff,… Continue

Added by Seb Frey on March 14, 2009 at 11:47am — 3 Comments

Are Virtual Tour Sevices Worth What You Pay For Them?

Are virtual tour services worth what you pay for them? Answer: Yes. Especially if you use the same virtual tour service I use because it is FREE. What service do I use, YouTube.



That's right. I use YouTube to post virtual tours of my property listings. It's free and it is easy. No expensive service required. I take my camera, film as I walk through the house (I typically do a video of the front and then one walking through the house), upload to my computer and then upload to YouTube.… Continue

Added by Nick Miller on March 14, 2009 at 11:06am — 1 Comment

CREDIT REPAIR - Closing more deals with the right Credit Repair Company

As many of you know Credit Repair Companies are a dime a dozen. Most of the credit repair companies I have come in contact with charge around $500 or some sort of monthly fee. From the feedback I have received, most of them are not very good.



In an effort to find a VERY GOOD credit repair company I started researching them and met with several. 1 or 2 seemed to be very good but charged an arm and a leg. I finally found one that was not only superb but were also reasonable in their… Continue

Added by Jason Donn on March 14, 2009 at 12:30am — 4 Comments

Banks barred from entering the Real Estate Business

http://www.realtor.org/banks_and_commerce.nsf

Wonderful news! I think we should all think about this...wait, don't think. Get out there are do your business!

Good luck :-)

Added by Johnny Huang on March 13, 2009 at 11:30am — 4 Comments

Real Estate...What to do?

Isn't it funny, how the masses are so fearful to make a move,

yet prices are very low,

interest rates are very low,

incentives are high,

and availability is plentiful.

When it was just the opposite everyone wanted to buy a Home.

Now that it actually makes sense to do so, everyone is fearful.

By the time you realize the opportunity available to you right now,

it will become the opportunity that you should have taken advantage of.

Can Prices still… Continue

Added by Ed Ferris on March 11, 2009 at 1:59am — 1 Comment

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