I have an urgent need for a key contact in Loss Mitigation at American Home Mortgage Servicing Inc.

The internal contacts I have are literally the most incompetent people I have ever encountered in a financial institution or loan servicing company.

They demand paperwork, it is provided, then they demand the same paperwork after acknowledging the receipt of the previously requested paperwork

Then they just scheduled the trustees sale date of our home because the requested…

Milpitas Single Family homes

Active Short Sale Listings:  23

Active Bank Owned Homes: 9

Pending Short Sale Homes: 49

Pending Bank Owned Homes: 11

Sold Short Sale Homes: Last 6 months 23

Sold Bank Owned Homes: 19

Milpitas Condo Townhomes

Active Short Sale Listings: 12

Active Bank Owned…

San Jose Single Family homes

Active Short Sale Listings:  371

Active Bank Owned Homes: 77

Pending Short Sale Homes: over 578 (mls stops counting at 500 and there are more than 500 San Jose Short Sales waiting for bank approval, 41 bank approved waiting for buyer to remove contingencies, and 338 just waiting to close)

Pending Bank…

Hi Everyone,  I was assigned an REO in May and have been doing a weekly inspection for 5 months.  It's a gated community, you know the drill "follow a car in and avoid getting hit by the bar".  The foreclosure was finalized and recorded, it's been 3 week now.  I was asked to put electric account in my name and all of a sudden I get an e-mail saying the property is being put on hold for listing and placed on a Discount or Non Profit list.  Today I get a questionaire from closing agent of…

Great story in DS news about the panel that NAWRB National President Desiree Patno spoke on yesterday on running a top-rate REO office.

Some REO Brokerages Prosper Despite Decreased Inventory

Desiree Patno, founder of the National Association of Women REO Brokerages and founder of Desiree Patno Enterprises based in Irvine, California, said her staff takes 15 photos of each property each week and then once each month…

When making an offer on a San Jose Short Sale it is common for the buyer's agent to ask the listing agent about his or her experience with short sales. They want to know if the seller's agent knows what he or she is doing because that is essential for a successful short sale completion. So when I am asked those questions I can honestly say that I am certified (CDPE),…

The Five Star REO Expo was a huge success for everyone!  Thank you all who attended. 

Our next event will be September 17-22 at the NAHREP National Conference in Los Angeles, CA.  NAWRB will be holding a Power Breakfast.  Stay tuned for more info.

Just an FYI.

The site PropertyTransactor.com has been updated to allow vendors and field reps to list their companies as available resources for REO Property Preservation.  The site also allows new agents and brokers to submit maintenance requests free for a year. …

Today in the Mercury News there was a story about how first time home buyers who need to purchase with loans are getting beaten out by investor cash buyers who often offer less than traditional buyers for foreclosures.…

Doing another SS this time through Litton. I am fat dumb and happy until close day.

We received approval/release from Litton for close anytime up to 10-13-2011. Had it schelduled for sept 2. On sept 1 Litton who had been purchased by Ocwen transfered all or most servicing rights to Ocwen. So not big deal right we have a signed approval and release and a letter sent to my client saying Ocwen will honor any "Litton" short sale approvals.

Well sort of anyway. Try to close…

Youtube can be one of the most powerful tools for both showing asset managers your marketing abilities and generating leads for yourself from around the world. With the correct use of Property Addresses through Google Maps your YouTube Channel can be a showplace for both you and your properties. Take a look at this example www.youtube.com/RealtorVincent

Call me if you want to learn more Dominic (EMS)…

Leading Ladies A #WOMENBIZOWNERS Working Event.

Keep the Five Star kick-off going with an exclusive NAWRB #WomenBizOwners Working Event at the Hilton Anatole. NAWRB #WomenBizOwners and Women with Access will be sitting down for a working session on HUD contracting and offering an exclusive opportunity to contribute to NAWRB's response to the HUD/FHFA Request for Information (RFI) on how to reshape REO disposition. If you're interested in government contracts and looking for…

Obama's 9th Mandate, Directive, Initiative, i.e. suggestion to save the Real Estate Collapse

The Refinance Program

Didn't I blog about this one year ago?  Yes, check out my link:

http://www.trulia.com/blog/JanBaron/2010/08/fha_short_re-finance_program

I suppose being a realtor, I am bias to some extent but I believe the collaspe of this economy…

There is a new law that mandates Carbon Monoxide monitors be installed in all residential properties in California. Lenders are taking this seriously! I had a buyer purchasing ashort sale in Sunnyvale that was scheduled to close last Friday, after several extensions. (The first lender kept asking for closings that were not physically possible to adhere…

Last week Jesse announced that www.bankownedhomelistings.com was number 8 on google. We can do better than that! If everyone clicks on +1 on the google home search I bet we can get to number one in a week or 2. Let's be the most popular kids in the internet lunch room.

I've done it. Anyone else willing?

Quick Summary

We have been and are currently experiencing flattening to downward pressure on inventory coupled with close to average sales activity. Positive appreciation experienced 2nd qtr over 1stthis year could very well be repeated if current trends continue and some or all of historic trends occur again (see first…

As a REO agent, we learn very quickly how important a good BPO is. Not only because we have to do them...along with MMR (Month Marketing Reports) but because our AMs rely on 3rd party BPOs to help them determine our list prices. Yes, you heard me correctly, I as the REO agent rarely get to list the property for the price I want. In fact, most to the time, I have to list the property at the 3rd party BPO price. So, I am trying to sell a property at a price I had no control over, my…