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March 2009 Blog Posts (39)

Asset Management Servicing LLC

Don't know if I made a mistake. I did a bpo for this company a few weeks ago and they just sent me an email accepting applications for REO broker network as their listings are increasing.

Has anyone had experience with this good or bad with this company? Asset Management Servicing.

Added by Lisa Waller, CRS, ABR on March 10, 2009 at 5:09pm — 5 Comments

MARCH MARKETING MADNESS - Investor Marketing Tips A-E

MARCH MARKETING MADNESS - Investor Marketing Tips A-E

Starting March 1, investors can once again own and finance up to 10 individual properties and get Fannie Mae backed loans. The limit had been previously reduced to 4. This meant that an investor with 5 properties, great credit, and documented income could not finance an…

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Added by Niman @TReXGlobal on March 9, 2009 at 3:48pm — No Comments

Listing Agents Not Welcome.

Because I have seen several recent post about OCWEN no longer taking on Listing Agents in CA. FL and, NV I decided to blog on a this recent trend of doing away with the Listing Agent.



Now, before I get started in on this topic, let me make something very clear, I have no first hand knowledge on these situations I will be discussing. I am simply putting together what I have heard, read and understood about the REO industries changing dynamics and how it might effect me or… Continue

Added by Jesus (Jesse) Gonzalez on March 9, 2009 at 2:21pm — 6 Comments

Obama's Economic Plan vs. An Alternative Plan

Obama's Economic Plan vs. An Alternative

Too little, too late

By Jack Rasmus

Rasmus's ZSpace page



More than 20 months after the financial and economic crisis erupted in August 2007, the U.S. economy continues to slip deeper into financial instability while simultaneously descending into a recession of epic dimensions, the worst by far since 1945.



As millions have been thrown out of work in just the last three months, the Obama administration raised its… Continue

Added by Carlos H. Silva Sr. on March 8, 2009 at 11:01pm — No Comments

Foreclosure nation

Posted by Scott Van Voorhis



Looks like the foreclosure epidemic is getting its second wind.



The first wave of foreclosures featured homeowners duped into buying homes they couldn’t afford with goofy, subprime loans. Not to mention a whole lot of small-time investors who bought units in hopes of flipping them for big profits, as well as a just outright fraudsters who used straw buyers to create artificial sales.



But much of that first wave of crazy subprime… Continue

Added by Jason Donn on March 8, 2009 at 9:26pm — No Comments

REO Listings

What Banks or Asset Management company's best to get REO listings?

Added by Donna Lavin - CDPE, SFR on March 8, 2009 at 2:46pm — 4 Comments

Listing Agent - REO Property

Can someone help me understand why the listing agent makes less money in selling the listing than the selling agent? You pay the utilities and sometimes bills that incur, they reimburse you, but initially you are using your money. You check the property every week, advertise it, and you as the listing agent get the short end of the stick. Maybe I am not seeing something here enlighten me someone.Oh, Oh wait that is not the best part! Then there is a bonus for the selling agent.

Added by Donna Lavin - CDPE, SFR on March 8, 2009 at 1:11pm — 5 Comments

Ocwen

Recently I heard Ocwen started a online Realty service where they no longer need listing agents in California.(so they think) I was getting from 1-4 listings a day down to maybe a re-assignment or 2 a month, Has anyone experienced this and are they still getting new listings in Ca or only re-assignments? I have worked day and night servicing the accounts and it is a little disappointing.

Added by Stephen D. kady on March 7, 2009 at 7:03pm — 13 Comments

Squatters

I recently had a Ocwen/ REO that squatters moved into. The property is in So California. The former mortgagor decided he needed some fast cash and posted a Craigslist add, collected $7000 cash and signed a rental agreement with them. I called the LACounty Sheriff and they would not help me. They told me it was a civil matter and I would have to go through the court process. Does anyone have any ideas how I could of got them out short of offering CFK's. That was already done with the previous… Continue

Added by Stephen D. kady on March 7, 2009 at 6:53pm — 1 Comment

NRBA

National REO Brokers Association has been the best investment I have ever made, took my company from "getting by" to "making a profit". Check out NRBA.com and feel free to use me as a referral.

Added by Barbra Curtiss on March 7, 2009 at 11:30am — 7 Comments

Fannie Mae guidelines may stiffle condo market....

I came across a new problem today that may force more foreclosures. If you are in a condo and there are more than 15% of owners who are delinquent in their condo fee, you are out of the guidelines of Fannie Mae. So, no new loans and no refinance for any of the current owners or potential buyers. I would be interested to hear your thoughts on this.
I think it just highlights how deep and pervading the mortgage mess has become.

Added by Suzanne Leedy on March 6, 2009 at 4:23pm — No Comments

Just picked up a great new company to work for, from this site!

Hi! Just wanted everyone to know that asset managers are looking here, and I just finished the initial bpo for a national vendor who, not finding an agent in my area, plucked me off this site. Way to go! This site is getting notice in its first year, gotta love it!

Added by Victoria Frieberg on March 6, 2009 at 11:29am — 29 Comments

You don’t deserve a listing!

Ok, this blog is going to touch on a lot of nerves but, I need to write it because, I just need to.



You don’t “deserve” a listing, that’s right, you don’t “deserve” anything to be completely upfront and honest with you.



I grew up dirt poor, ugly as home made sin around a drug addicted, in and out or prison single mother who was more abusive to her children that she was ever loving. We lived on government assistance through out the majority of my young life and we even… Continue

Added by Jesus (Jesse) Gonzalez on March 6, 2009 at 9:34am — 14 Comments

Five Star Institute West Coast Educational Conference March 18 - 21, 2009

Does anyone have any feedback from attending prior Educational Conferences put on by Five Star Institute? I just received an email stating that they will be collaborating with RES.NET to get the RES.NET Agent Certification Program at their conference in March in Orange County. The fee for obtaining the RES.NET Agent Certification is $95. Just wondering if there is anyone out there that has gotten the RES.NET Agent Certification and if that helped them get REO's from RES.NET.



I've… Continue

Added by Vickie Carano on March 5, 2009 at 7:26pm — 1 Comment

Housing bailout details are released

The Obama administration today is rolling out details of its plan to help as many as 9 million homeowners restructure their mortgage debts and avoid foreclosure.



Here's a link to the summary of guidelines for the program. There are plenty of additional details posted on the Treasury Department Web site.



To be sure, the effort has evoked mixed feelings.



The majority of folks who played by the old-fashioned rules of saving money and not buying more house than you… Continue

Added by Jason Donn on March 4, 2009 at 9:27pm — No Comments

Network To Succeed And Tap Global Markets!

In my opinion networking is one of the best and inexpensive way to establish business relationships which can be a source of additional business via referrals. The internet has made it possible to reach across countries and oceans to tap into global markets. Many foreign investors are investing in the residential and commercial markets where in the past it was mainly large corporate transactions. Our group has worked on transactions with institutional investors and private capital entities from… Continue

Added by Carlos H. Silva Sr. on March 1, 2009 at 7:48pm — 1 Comment

Free MLS-friendly Virtual Tour - grab it during the next two weeks

Via Real Bird (RealBird Inc.):





Listing presentation courtesy of

Brenda Magness, Brenda Blaser & Pam Yoakum Realty GroupAs many of you may know, the RealBird Listing Publisher service is one of the leading single property websites and listing syndication services. It is a completely free service with an extensive set of features that make it easy for you to market your listings online: through search engines, on classifed sites and social networks. Many of you may also… Continue

Added by MIRELA MONTE on March 1, 2009 at 12:51am — 1 Comment

The Ocean Between Buyer and Seller

I remember the good ol' days when the discrepancy between the Buyer's offer and the Seller's asking price was measured by mere thousands of dollars, signifying 1%-2% of the property's value. That disparity was like a little puddle of water we used to quickly and easily jump over and put the deals together.



Today I presented an offer to the bank for $165,000 less than the original asking price, a 34% reduction in value. Ouch! My advice: "Take the offer!" With 20 other properties… Continue

Added by MIRELA MONTE on March 1, 2009 at 12:48am — 1 Comment

Bank A, Neighborhood Z

As a follow up to my earlier blog: "The Ocean Between Buyer and Seller", here is my letter to the bank decision makers, arguing for the acceptance of a price which is $165,000 (34%) lower than the original asking price. This, along with the comps of this neighborhood and the adjoining neighborhoods, pictures and video of other, better priced listings will accompany this presentation tomorrow. Please give me any tips that may help me offer a more compelling argument!



Bank A,… Continue

Added by MIRELA MONTE on March 1, 2009 at 12:44am — 1 Comment

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