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March 2011 Blog Posts (19)

The Benefits and Value of Home Staging

5 Simple Things Sellers Should Know About the Value of Home Staging

 

1: The cost of staging is always less than your first price reduction!

It is a known fact that two things are key in selling real estate….price and location.

So why stage? Many reasons! STANDING OUT from the competition is one, especially in today’s down market where buyers see home after home,…

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Added by Addie D Scharff on March 31, 2011 at 2:34pm — No Comments

BAD Fannie Mae Listing Agents

We have an agent in this area who lists with Fannie.  Frequently the utilities are not on when I go to show these properties.  The showing agent cards are piled on the counters, the places are freezing cold, so on and so forth.  Yet, they keep getting the listings.  I showed one today in which a disconnect noticed was hung on the front door for all to see...Yes, you got that right.  The power had been shut off due to nonpayment.  WHY????  Why do these agents keep getting the listings?

Added by Tara Nagelhout on March 30, 2011 at 9:03pm — 36 Comments

Mortgage Bankers Weekly Update: Mortgage Applications Decrease as Rates Jump



 We all know whats happening to the single family home markets. Over supply and shadow inventory and the subsequent price declines will continue until fear is overcome and inventory is soaked up.



The kinds of issues that led to a boom bust in housing did not take place with multi family. There was no build out leading to over supply and the lender market was much more rationlized. Little of the kind of lending that led to so many foreclosures, ultimately driving home…

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Added by Howard Bell on March 30, 2011 at 6:25pm — No Comments

GoHoming and Altisource Homes - Writing Contract for Agents

I received the following email today.  I invite your comments.

 

"We are excited to announce a change to the home buying process for all properties sold through the GoHoming™ and Altisource Homes™ marketplace platforms.



This new approach will result in faster turnaround times and a more effective way of facilitating the documentation process for you and your buyer clients.



Going forward, we will write the contract for you! When the terms of your bid or…

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Added by Shawn Doran on March 30, 2011 at 10:28am — 4 Comments

Reconveyance Deed & why it might be important to make sure it happened!!!

Reconveyance Deed & why it might be important to make sure it happened!!!woman standing there pointing to a deed



I should explain what a reconveyance deed is to help make some more sense of this.  Anytime there is a loan on a property (at least in California), there is a deed recorded on the property.  Then when a loan is paid off against a property, another deed gets filed (reconveyance deed).  That type of deed shows that that lender no longer has interest in the…

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Added by Robert Moreno on March 29, 2011 at 6:14pm — 1 Comment

OCWEN / Altisource BPO's

Hello all!

Just wondering if there's anyone out there that can assist me with an issue. I signed up with OCWEN over 1.5 years ago for BPO's and REO's. I've called several times to check on the status of my account and each time I receive the same info. That my account looks great and there's nothing needed.

 

My issue is that in this time frame, I have only received 1 BPO order. Very unusual and odd considering other agents in my office and competing offices receive…

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Added by Joe Zingales on March 29, 2011 at 10:40am — 21 Comments

CASH FOR KEYS PROPOSAL - $21,000 OPTION

The Federal Deposit Insurance Corporation (FDIC) Chairman, Sheila Blair, has raised a proposal regarding “cash for keys” (CFK’s).   The proposal is encouraging the five largest U.S. mortgage servicers to consider a CFK’s option for 90-day plus delinquent borrowers that would pay them as much as $21,000 to move out!  According to The Financial Times, the proposal was not well received .

 

In the beginning of March 2011, the proposal was given to the servicers with the…

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Added by Shawn Doran on March 29, 2011 at 10:09am — 2 Comments

Real Estate Facts That You Must Know | 2011 Real Estate Market Outlook

Truly shocking news this week for our real estate industry.

Weakness across the US. Biggest weakness in…

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Added by Robert Moreno on March 28, 2011 at 10:29pm — 1 Comment

National Association of Realtors Pending Home Sales Report

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Added by Robert Moreno on March 28, 2011 at 10:25pm — No Comments

20% Down Payment Rule Starts April 2011 | Mortgages For The Few, Renting For the Many

Agents, are you aware of the fact that new lending requirements (Starting NEXT MONTH)  will require 20% down payments on mortgages. Yes, you read that correctly…20% down will be the new minimum requirement thanks to the new QRW Lending Rules.

Welcome to…

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Added by Robert Moreno on March 28, 2011 at 10:22pm — No Comments

How Agents Actually Use BPO Automation

It’s been tough since the crash, but dedicated agents are stepping up to the plate with new solutions to make it in today’s highly competitive REO marketplace. Seasoned REO veteran Kevin Moran joins us to share his business & personal strategies for success with us in a post crash real-estate marketplace, and…

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Added by Tim Ventura on March 28, 2011 at 5:22pm — 1 Comment

Why are Goals Important?

Why are Goals Important? -







On the best sunny day, the most powerful magnifying glass will not light paper if you keep moving the glass. But if you focus and hold it, the paper will light up. That is the power of concentration.







A man was traveling and stopped at an intersection. He asked an elderly man, "Where does this road take me?" The elderly person asked, "Where do you want to go?" The man replied, "I don't know." The elderly person said, "Then… Continue

Added by Judith Boggio on March 25, 2011 at 10:20pm — 1 Comment

The gardener's badge story (positive thinking, attitude, seeing the good side) UNKNOWN AUTHOR

the gardener's badge story (positive thinking, attitude, seeing the good side)

A landscape gardener ran a business that had been in the family for two or three generations. The staff were happy, and customers loved to visit the store, or to have the staff work on their gardens or make deliveries - anything from bedding plants to ride-on mowers.



For as long as anyone could remember, the current owner and previous generations of owners were extremely positive happy… Continue

Added by Judith Boggio on March 24, 2011 at 2:56pm — No Comments

Green Landlording: Getting Tenants to Go Green

Getting Tenants to Go Green.

As property managers, we can't insist on behavioral changes. Going green can be a tough sell to a renter. After all, a building is only as green as the people who manage and live in it. Managers are key players and can encourage activities that reduce consumption and waste. The catalyst is education.



We Are All Stakeholders

You need to demonstrate the benefits. Tenants can be…

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Added by Howard Bell on March 23, 2011 at 5:06pm — No Comments

Slow Times

I was talking to several REO agents in my area and everybody is complaining that we are not getting assignments like we used to. I have some houses in pre-listing since Sept of last year, and I haven't receive too many new assignments this year, it started great with a busy first week of January, but then it has slow down.

Also bpos are slowing down, and per my conversations with other agents it is the same with most. I talk to some asset managers from large banks a few weeks ago, and…

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Added by Jose Rivas (DGRA) CDPE, SFR on March 14, 2011 at 4:21pm — 10 Comments

You're not going to believe the BPO assignment I just got!

Last Wednesday I got in a new REO assignment. It was for a condo located in building 2 of the complex. I went to the complex to check for occupancy. I located building 1 and building 3. Sitting in between these buildings was a slab with a chain link fence around it. Building 2 had burned to the ground.

I noticed a sign on building 1 for a management office. Went to the office and discovered it was closed permanently. A sign in the door gave the management company contact information.…

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Added by Marie Walton on March 9, 2011 at 6:42pm — 5 Comments

Seven Habits of Highly Successful Property Preservation Reps

Although there are many techniques and tricks for being a successful MortgageFieldrep, in our conversations with hundreds of MortgageFieldreps over the years,I have identified the following seven habits that help create lasting success.

it

1. Providing Quality Service: Most fledgling mortgagefieldreps focus on quantity instead quality because they feel that they will make a lot more money having a long list of clients. Although true, it is also important to consider that if you have a… Continue

Added by Will on March 6, 2011 at 12:25am — No Comments

My latest CFK Experience

On Monday I have to do a Cash for Keys with the tenant living in the house that has been assigned to me. This house was assigned to me last summer but my client was waiting for the foreclosure to be ratified by the court and for the deed to be recorded. Finally I have the green light to offer cash for keys to the tenant at the end of January, they told me to offer $500, the tenant ask for $2000 finally we negotiated to $1200.

My client sent me the check last week and made it to my…

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Added by Jose Rivas (DGRA) CDPE, SFR on March 2, 2011 at 7:18am — 9 Comments

How to Clean a Green Pool ln 3 Easy Steps



Is your pool GREEN? Are you breeding mosquitoes? Do your neighbors hate you? Even with an automatic pool robot, you may still find that your

pool gets out of balance after storms or during the hottest part of

season.

Try these 3 steps to get your pool back to that inviting clearness, enticing you to dive on in. …

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Added by Brian Roth on March 1, 2011 at 7:30am — 2 Comments

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