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April 2009 Blog Posts (35)

Craigslist Scam

If you are going to be using Craigslist, which I do like BTW, be very careful if your property is vacant. I had posted an earlier comment regarding people running a con game where they rent empty homes to unsuspecting consumers.



It is very rampant on Craigslist...where I have heard any mention of foreclosure, REO, bank owned, etc...you could have a duplicate post "for rent" on the same property withing a short time. As an agent who uses Craigslist...I recommend running searches of… Continue

Added by Martin R. Tauger on April 30, 2009 at 12:13pm — 8 Comments

REO Default Certified Professional (RDCPro)

Having completed Default School and earning the RDCPro designation, I thought I would share my experience with you all. On the topic of certifications, designations and education, I am of mixed mind. You may ask...Why? And the answer is simply because some of these programs are too much 'fluff,' just trying to suck a quick couple hundred dollars out of Realtors and thin on material. Some on the other hand are put together by honorable people, truly trying to offer value and improve their… Continue

Added by Brad Spence on April 30, 2009 at 11:30am — 7 Comments

Desperate Agents Raise Funds for Asset Management Start Ups.

Ok, this blog is going to cause a lot of friction however, please understand that is my goal. I really want to hear your thoughts, both the pro’s and con’s.



Our industry has a lot of REO / BPO Firms popping up out of no where making huge promises if only you pay 199.99 for their training / certification / designation. The problem is, most of these companies aren’t what they are cracked up to be.



In fact, it has come to my attention through an anonymous source that many… Continue

Added by Jesus (Jesse) Gonzalez on April 25, 2009 at 8:20pm — 17 Comments

Top 10 REO Contact Tips for Agents from a top Asset Manager

Yesterday I attended an awesome REO seminar from www.NFSTI.com, National Foreclosure Sales Training Institute in Santa Monica, California. The featured speakers were 2 top REO listing agents and we had some surprise guest speakers. One was a top Asset Manager (can't mention any names, sorry). Another guest speaker was Thomas Moore from eBrokerHouse and he demonstrated their software live!



Following is a photo of top REO listing agent Pam Eikelberry from Northern Nevada, giving… Continue

Added by Regina P. Brown on April 25, 2009 at 3:09pm — 15 Comments

I Finally Understand!

I have to admit, I finally understand! After a week of HELL, I finally understand! But let me back up a step and set the stage for my short story.



Like many agents in this market, I have been trying hard to get in the middle of this REO thing. Working the phone, shaking hands, writing BPO's for months, business events, etc. Finally, I get my first break and pick up 8 new-construction REO's in a partially started subdivision. The bank has been great to work with, but they want maximum… Continue

Added by Steve Adkins on April 25, 2009 at 2:00pm — 13 Comments

BPO TO REO

Expect to see a flood of homes that I have seen emply for up to 2 years finally go on the market.

Added by Ellen Dittman on April 25, 2009 at 6:58am — 3 Comments

Can Your Community Act Fast Enough. _ Realtor Will Work For Food

About a month ago, I woke from a dream as if I was directed. Everyone knows what it is like to come to a fully conscious state with no lag time, this is not a new event in anyone’s life, but what I was thinking about was new.



I am sure somewhere in the back of my mind, I had heard about the problems of our local food bank but to be honest I can’t tell you when or where I had heard it. I know what your thinking, dreaming about a “Food Bank” how exciting that is, NOT.



We’ll… Continue

Added by George Kenner on April 24, 2009 at 1:32pm — No Comments

Why are local agents who do REO business people who no other agents have ever worked with or even heard of?

Agents who do REO business are not long time successful residential agents in this market. They are people that we agents are not used to working with and they are unknown to us. Why isn't the business given to the BEST agents in the area, who know the values best?

Added by Sharon Harding on April 24, 2009 at 9:05am — 4 Comments

Foreclosure Today & In the Past: How Will It Affect Credit Score?

There's been a lot of questions concerning how a foreclosure this days will affect your credit score and ability to qualify to purchase a home in the future. Here's an older article from NY Times which somewhat addressed the matter.





How Will Foreclosure Effect Credit Scores?



The amount of damage to a credit score caused by foreclosure, deed in lieu or a short sale during 2008 and 2009 may be mitigated by the slower economic times, say some credit and… Continue

Added by Carlos H. Silva Sr. on April 24, 2009 at 12:01am — 1 Comment

Housing Bubble Smackdown: Bigger Crash Ahead Huge "Shadow Inventory"

Due to the lifting of the foreclosure moratorium at the end of March, the downward slide in housing is gaining speed. The moratorium was initiated in January to give Obama's anti-foreclosure program---which is a combination of mortgage modifications and refinancing---a chance to succeed. The goal of the plan was to keep up to 9 million struggling homeowners in their homes, but it's clear now that the program will fall well-short of its objective.



In March, housing prices accelerated… Continue

Added by Carlos H. Silva Sr. on April 22, 2009 at 2:00pm — 1 Comment

WOW - First Blog!

I feel compelled to write after reading the "Ask the Expert" article. It mirrors my feelings about many things, but mostly the big WHY of why I went into Real Estate in the first place, and the WHY of who I currently work with.But it leaves me with a question as well.........



If you are not honest about why you work you only deceive yourself. We work to make money to take care of and protect those we love. As a lifelong entrepreneur who has been in construction and sales - I… Continue

Added by Bob Bjurstrom on April 22, 2009 at 10:12am — No Comments

Subpar service

I have noticed the poor quality of work that some of the REO listing agents are displaying lately here in Miami. Things like untimely (or no) return of phone calls, unavailability on weekends, poor description of the listed properties (many with no remarks and no pictures), uncooperative assistance to buyer's agents and other behaviors that, not only make us all look bad, but also hurt the asset managers and ultimately the properties' owners.



I have inquired to some asset managers… Continue

Added by Victor Taboada on April 21, 2009 at 4:13pm — 5 Comments

Prescott Arizona area foreclosure market report as of 4-18-09

Fifteen new foreclosed or short sale homes came on the market, about one in every six homes being listed in the Prescott Arizona Area MLS system, and one quarter of the closings were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt and the outlying areas of Yavapai County. This shows a marked decrease from last week’s numbers.



The difference between what newly listed traditional homes and Prescott foreclosed/REO and short sale properties per square foot… Continue

Added by Patrick Schutte on April 21, 2009 at 9:15am — 1 Comment

Bulk REO Or Goose Chase?

If you have chased the elusive Bulk REO as I have than you are probably wondering how to get your hands on a real buyer, a real seller and a real tape. You probably also ran across your fair share of , NCNDs, MFAs, intermediaries, mandates, broker chains, "buyers", "sellers" and a fair share of tapes. One thing I have learned is to do a lot of due diligence and not to get too excited like I did at the beginning of my bulk REO journey. I am embarrased to say how much time has been "invested" in… Continue

Added by Carlos H. Silva Sr. on April 21, 2009 at 4:30am — 6 Comments

Attitude

Attitude is everything in this business. My chosen field as a Real Estate Professional has brought me to so many wonderful people over the years. I enjoy every minute of it down to the interesting conversations with Loss Mitigation Depts of various bank. I have 17 short sale listings right now and though it might not seem like much to some, to me they are valued because I have learned so very much over the past months and this year alone. I used to be in contact with REO asset managers (2) in… Continue

Added by Ellen Dittman on April 20, 2009 at 4:49pm — 1 Comment

Governor Crist Encourages First-Time Home Buyers to Use Federal $8,000 Tax Credit

TALLAHASSEE, Fla. /Florida Newswire/ -– Governor Charlie Crist today met with Florida REALTORS® to discuss Florida’s housing market. Governor Crist encouraged first-time home buyers to take advantage of the tax credit made available through the federal American Recovery and Reinvestment Act of 2009. The $8,000 tax credit applies to primary residences as long as they are purchased before December 1, 2009.



“Even though today is Tax Day, first-time Florida home buyers can still claim… Continue

Added by Jason Donn on April 19, 2009 at 10:32pm — No Comments

Judge Judy and Gordon Ramsey's Love Child.....Inspirational Thought.

Well, this morning I woke up, the sun was shining, the birds were chirping, school bells were ringing and I had a flash of genius. That’s right, a simple, non threatening, low key, under whelming FLASH of genius. Surprised? Well, so was I.



I want to be Judge Judy and Gordon Ramsey’s love child. Ok, so….maybe you’re laughing out loud at this moment but, hear me out, I am going somewhere with this.



I want Judge Judy’s tenacity, unwavering truth seeking and inability to be… Continue

Added by Jesus (Jesse) Gonzalez on April 17, 2009 at 9:05am — 3 Comments

Google Page Rank is up to “2”…woo hoo!

I am proud to announce that REOPro’s Google page rank is now up to 2. If you don’t know why that is important, let me explain.



A Google page rank is a number that represent just how important your page is on the web. The more important you are, the more likely you will appear at the top of searches using keywords that describe your page.



In other words, if someone does a Google search for “REOPro”, the more likely our page will appear at the top of the results that come up… Continue

Added by Jesus (Jesse) Gonzalez on April 14, 2009 at 4:44pm — 2 Comments

Generation Y: Bullish on U.S. Housing Market

First major national housing survey during current downturn reveals surprising results



NEWPORT BEACH, Calif.--(BUSINESS WIRE)--The first major survey into Generation Y’s perception of the U.S. housing crisis reveals a surprisingly strong sense of optimism about the future despite cautious near-term sentiment.



While the housing industry is readying for this wave of future homeowners (approximately 80 million strong), there is little data on what this… Continue

Added by Jason Donn on April 14, 2009 at 1:01pm — No Comments

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