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April 2010 Blog Posts (25)

Can I Get a Waiver Please???

Just got off the phone with one of my REOPRO buddies. This site is such a great resource-(but that's another blog). We were discussing recent REO training we have both been "strong armed" into taking. Look, I am all for learning new information, and I don't believe I know it all. It started me thinking, in some States you can get a waiver from taking the Real Estate Broker Exam, if you have adequate education, experience etc. In the past 30 days I received 2 new REO certifications, In my… Continue

Added by Billie Dalessio on April 30, 2010 at 8:22pm — 7 Comments

25,000 Members...Not Quite There Yet, But What Can We Do Now?

The subject of 'strength in numbers' was discussed quite often when the

advisory board for REOPro was being put in place. Therefore, it would

be both exciting and a very loud shout to the industry when REOPro

reaches 25,000 members. The question is, though: 25,000

members...woohoo!!!!....then what?...



Jesse from what you've stated, the connections you made at the conference

may have opened some doors, not just for yourself, but for all of us

members. In… Continue

Added by Trevor Nightengale on April 30, 2010 at 6:15pm — 1 Comment

Financing for a Short Sale Property

Ran into an issue this week - wanted to see if anyone else has ran into it and what happened.

Had buyers, we found the home, knew that it was a short sale, made an offer and it was accepted. During the offer to acceptance, we found out that an investment group had successfully negotiated a short sale and that they would be closing on May 19th, 2010. They would be the ones selling the property to us. Thought okay, we got a good price on a good home, works for the buyers. Buyers…

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Added by Steve Elmore on April 30, 2010 at 5:41pm — 8 Comments

Newbies! Dont Give UP!!!

With all my respect to REO Veterans! I doubt that you started as an REO agent knowing everything, I am not applauding the agent that does not have a clue of " CASH FOR KEYS " means. I am sorry to inform you that I am a newbie, and my background is Loan Officer, I was already question by Mr. Marquez how did I get in... well!!!…

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Added by ROSIO VIGUERAS on April 30, 2010 at 5:33pm — 6 Comments

Distressed Hotels, 2010 a forward thinking look from yours truly.

It's no secret that my operations have moved into the Hotel business again, however, this time it's hotel real estate and operations. I'd like to share with everyone why I've decided to focus on hotels.

I've always had a heart for hospitality. From being in the front lines at McDonald's learning their "fool-proof" system, to mid-size hotel operations and financial accounting, my spot was in Hotels. I also loved real estate. When I was working for a hotel, I managed to study…

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Added by Johnny Huang on April 30, 2010 at 4:00pm — 4 Comments

Fannie Mae REO Properties on HomePath.com

For those of you who might be unaware, Fannie Mae has been releasing their REO inventory. Whatever your opinions are on Fannie, Freddie or the government programs in general, they have released more REO than most other financial institutions and we have to work with them. Embrace it, especially if you're a buyers agent... this is a good thing for buyers. Check out their website, they list their Active listings as well as listings that are coming soon. Use it to your advantage, and your…

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Added by Lisa Meszaros on April 30, 2010 at 3:47pm — 4 Comments

Do Short Sale associates hurt your REO business?

I’m curious how other agents see short sales and REOs mixing.

If you are an REO agent and are assigned a listing, you are happy. If you then find out that one of your associates in your brokerage has had it listed as a short sale within the past 6 months, your happiness might turn…

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Added by Robert NRBA Slick SC REO on April 28, 2010 at 2:58pm — No Comments

REOPRO- Fantastic Buyer and Seller Referral Source!

REOPro is a great networking tool that is FREE and has some of the

finest REO/Short Sale Agents around! The founder Jesse Gonzales has

placed a tremendous amount of time and substantial energy into creating a

reputable forum to share information. Recently our Team was contacted

by a fellow REOPro member to refer us a very good friend of his who is

looking to buy a home in AZ and is a cash buyer. If it would not have

been for REOpro we would not have…
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Added by MARK MCINTYRE on April 27, 2010 at 3:21pm — 12 Comments

Lenders no longer Foreclosing on Properties!



I just read on another agents blog about an REO broker in California who said his inventory has gone from 700 listings down to only around 100. The is VERY significant event in the real estate industry, and it shows an obvious trend in the industry. This year will be the year that the number of short sales jumps very high, and the number of foreclosures falls sharply!



There are several factors that are contributing to this new direction in the…
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Added by Mike Linkenauger on April 26, 2010 at 1:30pm — 12 Comments

Certified HAFA Specialist from California Association of Realtors

Special prices applicable till April 30, 2010. CAR members please use promotion code “APCAR005” and non-CAR members please use “APUSA005” on the order form.



HAFA is the first Short Sale program to set nationwide Short Sale standards and financial incentives and it went ‘live’ in the non-GSE market on April 5, 2010. Don’t miss the opportunity to become a Certified… Continue

Added by Johnny Huang on April 26, 2010 at 12:36pm — 8 Comments

I am here to make money……what about you?

Recently, one of our members sent me some hate mail, yes….I get hate mail and, I wanted to share some of it with you so that I can clarify some points, just to make sure we are all on the same page.

Before I do this, just so you know, I won’t be revealing who this person is so, don’t…

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Added by Jesus (Jesse) Gonzalez on April 26, 2010 at 10:35am — 24 Comments

IN REGRADS TO THE REQUEST FOR OUR INVITATIONS

I understand that you need to reach this goal of 25,000 members and there might be some lack of acting from some of us. I know my reason is because your not giving enough info out. You state it will benefit all of us, but how? Maybe if you would enlighten us we would take that extra step and make it more of a priority.

It would be nice for us to see the light at the end of the tunnel and if what you have brewing is worth it then i'm sure we can hit that number. I know, at the…

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Added by George Bellino on April 25, 2010 at 3:09pm — 6 Comments

$50 Billion Bail Out for Short Sales?

Connecticut Senator Christopher Dodd, Chairman of the Banking Committee introduced his own Financial Reform Bill recent however, it didn’t have bipartisan support and died on arrival however, the White House bill that is likely to be brought to the floor on Monday has a very similar outline.…

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Added by Jesus (Jesse) Gonzalez on April 25, 2010 at 2:08pm — 2 Comments

How to traverse the nightmare that is the Los Angeles Housing Department’s REAP Program

How to traverse the nightmare that is the Los Angeles Housing Department’s REAP Program



The other day a good friend of mine challenged me to write a journal. I have never been a person who liked to write anything down, I figure, let’s just sit down and talk about it.

Well after going through the process of pulling a few properties out of the Los

Angeles City REAP Program, I decided that I would…

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Added by Tina Backstrom on April 24, 2010 at 1:30pm — 2 Comments

Are You in REO Denial?

My last three blogs here and elsewhere were on how HOPE, HAMP, and HAFA would not stop the next wave of foreclosures in California. Most scoffed and told me to forget REO that Short Sale will be all the rage and there will be little to no foreclosure activity in the future. Well not so fast my friends. Todays Foreclosure report showed that California Foreclosure activity is up a whopping 92.3% YtoY from March of 2009. Even if half of those went to third parties, sold short, or were modified… Continue

Added by C J Johnson, Broker/SFR/CRS/ABR on April 21, 2010 at 3:48pm — 3 Comments

REO Agent's Prayer

The bible tells us to turn to the Lord in times of need, that He is the provider of everything. I hope I don't offend anyone here but the Holy Spirit moved me:

THE REO AGENT"S PRAYER

Lord, you are the provider of all things and all of my success belongs to you.

Please if it be by your will and not by mine that I am a succesful REO Agent.…

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Added by John Accornero on April 16, 2010 at 2:51pm — 12 Comments

Hamp and Hafa Programs-UPDATES NOW ADDED 4/30

Hamp and Hafa ProgramsI've reviewed much of the Hamp and Hafa Programs and honestly, it seems tough to use it if the homeowner has a 2nd lien(2nd Mtg) on the home, or has already…

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Added by Rose Mencia on April 15, 2010 at 5:00pm — 5 Comments

Once in a Generation Opportunity!

This month only, California only, first time buyers can receive an

$18,000 tax credit if they make an offer on a home and it is accepted

before April 30, 2010. The federal tax credit of $8,000 is set to

expire April 30, 2010. The California tax credit just began and will be

in effect until July 31, 2011. So, for this month only, first time

buyers can benefit from an $18,000 combined credit.



I get asked by buyers.."will they extend it?" The word I hear from D.C.… Continue

Added by Jan Baron, RDCPro, CSP, BPOR on April 12, 2010 at 10:18pm — 6 Comments

REOPRO Lucky 7 Party

I attended the Lucky 7 Party on Friday night in Dallas. What an excellent event!

It was fun of course. But the networking was phenominal. I met great realtors, escrow people, and asset people.

I realize there are a lot of things out there screaming for your Marketing / Education / Networking dollars. But this event was very good.

For those of you I met at the event, I look forward to seeing you again in the future...perhaps this week in Palm…

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Added by Chris Butterfield on April 12, 2010 at 8:10pm — No Comments

RealtyPilot / REOPro Premier Poker Party was a BASH!

Wednesday I arrived to my hotel, I was immediately on the war path. As I checked in, the first question I had for the front desk staff was, “Is Patrice Euell available, I need to speak with her.” Patrice is the hotel event coordinator and as someone who comes from the hospitality industry, I was going to make sure this event went off without a hitch.…

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Added by Jesus (Jesse) Gonzalez on April 12, 2010 at 7:19pm — 13 Comments

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