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August 2009 Blog Posts (39)

Did you Google Me?

Many times before, I have written on the importance of blogging and, I am not sure I have made that big of an impact however, let me share with you a recent chance encounter that lead to business for me.



As many of you know, I am a huge blogger, I love it so, to get me to do it, isn’t that hard and after I tell you what happened recently, I hope you to see blogging in a different light.



Too make a long story short, I got directly contacted by an AM who googled me after… Continue

Added by Jesus (Jesse) Gonzalez on August 18, 2009 at 9:55am — 7 Comments

You Appraisal is Shady

Ok, I am about to vent so, if you don’t want to hear an angry rant about how I feel, it’s best you stop reading now and move on!



I have this short sale, since January and it’s in poor condition. For example, pipe burst in ceiling, sever mold, exposed sub-flooring through 75% of home, torn wall paper, huge holes in walls, missing fixtures, standing water in crawl space, etc….get the idea? It’s in poor condition and my contractor estimated 30k ($30,000.00) in repairs to make it… Continue

Added by Jesus (Jesse) Gonzalez on August 17, 2009 at 1:41pm — 10 Comments

Time is of the essence!

I truly like this phrase! It speaks for itself doesn't it? I think so and it is so very pertinent when it comes to the current first time home buyers tax credit which expires at the end of November. In order to take advantage of this credit the transaction has to close/record before December 1, 2009. Since escrow dealings can take 30-45 days that means the transaction needs to be negotiated/accepted within the next sixty days. Not only is finding the right property time consuming but keep in… Continue

Added by Linda Landry on August 16, 2009 at 10:41am — 2 Comments

The Good, The Bad & The Ugly

Well here's the good news. A new account from a buyer of a bulk portfolio from one of the big 4. They assign me a listing Excitedly I rush right out to view my new beauty, and do an occupancy check, meet locksmith, etc. I pull into the neighborhood, not bad for an urban area in Connecticut.I am optomistic.

The bad- house had a fire, not a total burn down to the ground, but a section of the front is chared. Interior damage to 2nd & 3rd floor contained to 3 rooms, some smoke… Continue

Added by Billie Dalessio on August 12, 2009 at 9:58pm — 7 Comments

HOW TO GET STARTED ACTUALLY GETTING LISTINGS?

I am new to listing REO's, but have been specializing in short sale for several years. Also I have been doing BPO's for Goodman Dean and Land America in hope of getting my foot in the door to list REO's. So far I have made some pocket money on BPO's but no listings. I am a broker and have my own company that I opened 1 1/2 years ago after 25 years in the real estate business. I would love to develope an REO division. I see there are comments in your blog on certifications not being particularly… Continue

Added by Leslie Hansen on August 11, 2009 at 4:28pm — 9 Comments

I love Ask the AM!

and this morning I am LMAO! thanks, I needed that!

Added by Victoria Frieberg on August 11, 2009 at 10:05am — 8 Comments

Real Estate Connect Inman Conference Offered Cutting Edge Industry Innovation & Technology Information

I recently attended the Real Estate Connect Inman Conference in San Francisco, and it was by far one of the best conferences in real estate that I have ever attended. The number of innovative companies and latest technologies entering the industry was overwhelming and really opened me up to what is coming to the future of our industry. There is definitely change in the air in the real estate industry and it is happening quite rapidly. I encourage anyone that has not had a chance to read Inman… Continue

Added by Ines Eiras on August 11, 2009 at 7:53am — 2 Comments

Oakland PGE Meter- How to get it back on the property if it's missing.

I have a listing in Oakland CA and we originally called PGE to find out if there was any electricity on at the property as one of the ways we determine occupancy at a property. PGE was off and we were happy to check the property and rekey. However upon arriving at the property and rekeying, we found the property to be occupied. In fact, there was electricity in the property. The occupants were stealing it from the neighbors for illegal activities!



We quickly left. Finally, after… Continue

Added by Tammy Yau & Steven Wang on August 10, 2009 at 2:44pm — No Comments

I guess it's the Boy Scout in me!

I wonder if there is anything close to being overly prepared? I carry with me nearly a complete office in my vehicle. Of course my laptop and hard copies of purchase and listing contracts as well as pens and notebooks. Additionally, I have my lawn chairs, tool box, signs and a cooler for drinks on the go. Non alcoholic beverages of course! There is still a little room to stash my gym bag in the eventful moment I may squeeze that stop in as well! Whew! No doubt I am forgetting something but I… Continue

Added by Linda Landry on August 9, 2009 at 3:44pm — 8 Comments

Deutsche Sees 48% of All US Mortgages Underwater in 2011

These are staggering numbers. I heard a lecture from an analyst from Anderson School of Business at UCLA which was a bit gloomier than this but these are some of the gravest predictions I have seen in print. Will we see more aggressive programs from the administration to combat the forecasts? The various moratoriums so far have had less than robust results. A contact at Wells Fargo tells me they have had less than a 1% success rate in loan mods. I can't see a substantial turn around until at… Continue

Added by Michael Howard on August 7, 2009 at 9:45am — 4 Comments

Benefit of throwing good money after bad is....

Due to the current real estate climate many homeowners owe more on their homes than the current market value; or are 'underwater'. What is the benefit of continuing to pay on a loan that is considered a 'bad debt'? Some would say none as it does not appear to make economic sense. However, there

is more to it than just the current mathmetics of the subject. Regarding homeownership there is more of an attachment to the product than just the financial investment. Residential property is also… Continue

Added by Linda Landry on August 6, 2009 at 10:51pm — No Comments

Realtor and CPS employee also help thwart suicide attempt

Realtor and CPS employee also help thwart suicide attempt

Comments 0 | Recommend 0

August 04, 2009 4:50 PM

BY JAMES GILBERT, YUMA SUN STAFF WRITER

The two men who helped state transportation worker Edward Lugo save the life of a 55-year-old man who tried to jump off the 16th Street bridge over Interstate 8 Thursday morning are a local Realtor and a Child Protective Services employee from Phoenix.



A human resource manager, Terry Christopherson was in town to… Continue

Added by BILL SNYDER on August 6, 2009 at 9:02am — 3 Comments

OPEN HOUSES STILL WORK EVEN ON REOs!

I will admit it, I am one of those agents that used to think that an open house was an awful way to spend a Saturday or Sunday afternoon. Then I received a listing in the city of Winchester, Virginia on a major route near the historic district. Although this 1910 Victorian had pretty much been stripped of all of its charm, I decided to do an Open the first Sunday of the listing. I decided I wasn't going to spend any money on advertising, or anything else for that matter. I placed the open house… Continue

Added by Craig Alexander on August 5, 2009 at 3:30pm — 5 Comments

Las Vegas New MLS RULE & REGULATIONS (GLVAR) will affect REO & Bank owned listings

Las Vegas New MLS RULE & REGULATIONS (GLVAR) will affect REO & Bank owned listings



NEW MLS RULE & REGULATIONS will affect REO & Bank owned listings



SOURCE: Direct from GLVAR Go here to read article



MLS Rules & Regulations have been modified to add the following verbiage to Section 1.0 Listing Procedures:



The Service shall not… Continue

Added by Dawn Barrier on August 3, 2009 at 11:16am — 3 Comments

Short Sale Lack of Disclosure Creates E&O Nightmare

It has recently come to my attention that a friend of mine in another state is being sued by a Seller he represented in a Short Sale transaction because he didn’t disclose the fact that the homeowner was selling short in a recourse state and could potentially be sued herself for a deficiency judgment. Needless to say, the seller was issued a deficiency judgment by the court in the amount of $48,000.00.



The seller ended up filing bankruptcy to rid themselves of the judgment but,… Continue

Added by Jesus (Jesse) Gonzalez on August 2, 2009 at 2:47pm — 15 Comments

Does your city rank high or low?

It’s raining foreclosures, in these cities.



In a recent article July 30, 2009, Foreclosures: How Bad is your City?, Les Christie with CNNMoney list out the top 20 ranked cities where foreclosures abound. He quotes his source, RealtyTrac and here is their findings.



Ranked # 1 is Seattle with 1 in 107 however, that’s up from the first half of 2008 by 72%

Ranked # 2 is Minneapolis 1 in 90 up 58.6%

Ranked # 3 is Phoenix 1 in 22 up 51.7%

Ranked # 4 is Miami 1 in… Continue

Added by Jesus (Jesse) Gonzalez on August 2, 2009 at 2:35pm — 6 Comments

Underwater vs. Upside Down

What is the difference between underwater and upside down? Both are negative equity right? Technically, I guess the answer is yes and no. Underwater is the current term for homeowners (better known as a mortgagor) who owe more for the loan than the value of the property. Upside Down is the term commonly used when a vehicle has less value than the loan intact.



Being upside down in a vehicle loan has been common place for years and no one seems to scream 'help I'm upside down and I… Continue

Added by Linda Landry on August 2, 2009 at 2:19pm — No Comments

Fla. highrise has 32 stories, but just 1 tenant (Downtown Fort Myers)

By CHRISTINE ARMARIO, Associated Press Writer Christine Armario, Associated Press Writer – Sat Aug 1, 3:37 pm ET



FORT MYERS, Fla. – The Vangelakos' southwest Florida condominium has marble floors, a large pool overlooking a river and modern furnishings that speak of affluence and luxury. What they don't have in the 32-story building is a single neighbor.



The New Jersey family of five purchased their unit four years ago, when Fort Myers was in the midst of a housing boom… Continue

Added by Michael Thompson on August 2, 2009 at 11:16am — 2 Comments

NFSTI Seminar

What an awesome seminar this was! Full of a ton of useful information presented in an informal, casual way that allowed all questions to be addressed on all topics.
The highly experienced asset manager and top REO agent who were the presenters, were a wealth of knowledge and I felt it was very worth the time and money to attend.

Added by Linda McKissick on August 1, 2009 at 6:41am — 32 Comments

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