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August 2008 Blog Posts (6)

REO paint job

Did an interior BPO on a property that'll be listed (by someone else) in the next week or two. I love what they've done with the paint job!…


Added by Seb Frey on August 25, 2008 at 11:30pm — No Comments

Thar she lows!

I did an interior BPO a week or two ago on a rural property out in a kind of exclusive part of Santa Cruz county. None of the homes are alike, the parcel sizes and qualities are all different, the houses range from brand new estate-type properties to...well, older estate-type properties. There are probably a few normal houses thrown in here and there, tucked away behind different hills and knolls.

One thing I sure hate to do is tell a client the asset is worth more than it is.… Continue

Added by Seb Frey on August 21, 2008 at 11:22pm — No Comments

High-End Homes going REO

I don't know if you've been hearing the rumors, but there's a gathering consensus that the sub-prime mortgage market was just the beginning of the REO wave, that next up we're going to see more "prime" mortgage defaults and foreclosures. Check out this article from the New York Times, for example.

That's my sense of it, surely. Most of the REO listings I've been getting have been in Watsonville,… Continue

Added by Seb Frey on August 15, 2008 at 12:17am — No Comments

IndyMac, DefaultSchool

Hey, did you get the invite to sign up for IndyMac's new mandatory training at DefaultSchool? I did, and I'm not even an IndyMac-approved broker! My application is pending, and has been for some time now. Fortunately, I am already and REO Default Certified Professional with DefaultSchool, so all I had to do is fork out $399 to take the IndyMac Policies and Procedures course.

Of course, right after getting my cert, I e-mailed it off to IndyMac along with my existing RDCPro Certificate… Continue

Added by Seb Frey on August 15, 2008 at 12:06am — 4 Comments

Short sale BPO turned into REO Listing

The other day, I got a new property assignment. "Hmm," I thought, "that address looks familiar." Turns out, I had done an interior BPO on the property back in December of 2007, for a short sale. That was kind of a puzzler - I know I turned in a value higher than the contract price (the seller's agent met me out at the property and said, hey, this is our contract price) - but considering the location and lot size, the value I gave it was fair to all concerned.

But OK, say that my… Continue

Added by Seb Frey on August 7, 2008 at 8:30am — No Comments

The REO Agent's Image and You

When you think of a REO Agent, what image pops in your mind? Do you see some well dressed, luxury car driving, wildly sexy, speak with a foreign accent Realtor or is it more of a blue jean and polo wearing, pick up truck driving, only sexy after a few drinks, sounds like they just walked off the farm Realtor?

The reason I ask is because, I recently walked into a group of older, mature no less successful than myself Realtors only to discover, my “image” didn’t fit their crowd. It was… Continue

Added by Jesus (Jesse) Gonzalez on August 1, 2008 at 9:06am — No Comments

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