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October 2011 Blog Posts (24)

No It's Not Okay For One Agent to Represent More Than One Buyer in a Menlo Park Short Sale

This is so inherently unethical I can not believe I am actually writing a blog about this, but a buyer asked me this question today and apparently it is happening. 

I have a short sale listing in Menlo Park and offers are due by the end of the day on Tues.  At thus point I have 2. It is in Belle Haven,  a popular area for investors and is close to the the new Facebook Headquarters so the appreciation prospects are…

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Added by Marcy Moyer on October 26, 2011 at 10:30am — No Comments

Is your REO Inventory being reduced or are homeowners not being foreclosed on?

Ok....so for the past few months, I have been hearing a lot

of people saying that their REO Inventory has been slashed or REO is really

slow....or...."a decrease in REO inventory" however, I would like to

suggest an alternative opinion.

 

First, let's talk about one of the earliest steps to

foreclosure, the NOD or Notice of Default. Now, I have looked everywhere and I

can't find a single source authority on just how many have been sent out

monthly since…

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Added by Jesus (Jesse) Gonzalez on October 25, 2011 at 7:23pm — 6 Comments

Wells Fargo reduces Reo Agent from their rosters

Just got word that Wells Fargo had a meeting today and is cutting agents from their rosters. They mention that due to decrease in foreclosures.. Has anyone heard this also. I know one agent that got cut today from them.

Added by Alina on October 25, 2011 at 6:57pm — 6 Comments

Ocwen to Buy Saxon for $59.3 Million

I received this email today.  Just passing it on. 

"Morgan Stanley has annouced the sale of Saxon Mortgage Services to Ocwen Fiinancial Corporation.  Ocwenn has agreed to acquire Saxon for the base purchase price of $59.3 million. The deal also includes an estimated $1.4 billion for servicing advance receivables outstanding.

The transaction is expected to close in the first quarter of 2012. According to Reuters,…

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Added by Shawn Doran on October 24, 2011 at 5:26pm — No Comments

Short Sale Negotiators border line scam!!

Is anyone else up here in New England running into this scenario?  A property listed far below the Current value( LP $150,000) thats about a mile to the Ocean.  I contact the Listing Agent as soon as it pops up on the MLS, I am informed that the Seller will not accept my offer(I understand that the Seller can accept any offer they want).  This Short Sale remains Pending for 6 months and eventually Sells for $105,000, Who is this lucky Buyer....You guessed it, the Short Sale Negotiator "is"…

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Added by GEORGE MALDONIS on October 23, 2011 at 9:33am — 4 Comments

I am now Five Star Short Sale certified and listed on REORedBook.com

I have received my short sale Certificate from Five Star

I am now listed on the REORedBookcom.

The Redbook was passed out this year at the Five Star conference to all the attending asset managers.

Below is from the Five Star website:

"We are looking for the best. The lender and servicing communities are calling for highly qualified, performing, experienced REO agents. And we're answering that call. All members of the FORCE…

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Added by Brandon Jordan on October 21, 2011 at 10:20pm — 2 Comments

I am now Five Star REO certified how many on REOPRO are Five Star REO certified?

I have received my REO Certificate from Five Star

Below is from the Five Star website:

"We are looking for the best. The lender and servicing communities are calling for highly qualified, performing, experienced REO…

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Added by Brandon Jordan on October 21, 2011 at 10:17pm — No Comments

How many Trustee Sale date postponements are usually allowed? How about 7!

I just completed a long sale, usually called a short sale (LOL) , as a listing agent that truly amazed me. I grew from hating the 1st TD holder to being grateful to them because they finally got things right. This 10 month ordeal began with 9  offers, where 8 buyers walked away, 7 times the trustee sale was postponed, 6 times the file was escalated, 5 weeks were wasted while the HOA board of directors debated if they should re-approve the condo building to be FHA approved (even though they knew… Continue

Added by Deborah London on October 21, 2011 at 1:45pm — 1 Comment

CHRISLEY ASSET MANAGEMENT

Hey guys....Anyone out there working with this company and have any feedback? I have been working with them for a few months and they just recently announced that commissions for the Fannie Mae listings were being cut to 2% on the listing side. When you factor in paying utilities, rekeys, inspections etc and the fact that they do not reimburse in a timely manner I am starting to think maybe they are the one's in trouble.....Any info from you guys would be helpful! Great site by the way!

Added by John Hoffman on October 19, 2011 at 10:08pm — 7 Comments

Where are all the Realtors at?

 

So, how many agents are leaving the industry due to lack of

work? Have you ever stoped and asked yourself that question? Most likely not

but, I did this week because a friend of mine who owns their own real estate

brokerage told me that he is expecting that by the end of this year, his…

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Added by Jesus (Jesse) Gonzalez on October 19, 2011 at 3:12pm — 8 Comments

Where are all the Realtors at?















  

   

   

   

   

   

   

   

   

   

   

   

  

  

  

 

  

 



 




 





So, how many agents are leaving the industry due to lack of

work? Have you ever stoped and asked yourself that question? Most likely not

but, I did this…

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Added by Jesus (Jesse) Gonzalez on October 19, 2011 at 3:09pm — No Comments

Can Redwood City Short Sales Be Sold To Flippers?

If you are selling your home as a short sale and it needs work you may get one or more offers from flippers. These can be contractors or investors who want to buy your home at a discount, fix it up, and then resell it for a profit. I do not believe there is anything unethical about this, and in fact I used to flip homes myself, but that was a different market.

However, there are many banks who disagree and often will…

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Added by Marcy Moyer on October 19, 2011 at 10:28am — No Comments

Dispo Solutions/Summit Evaluations-NO PAYMENT FOR OVER 6 MONTHS

This company used to pay within 30 days, but they have seemed to run into problems. Have not been paid for jobs completed over 6 months ago. Latest response eceived 10/17/2011 from the company is below. Anyone else having the same issues with this company? Makes it kinda hard for me to want to complete any more jobs for them at this time. PLMK. Thx.

Dear Brian,

 I sincerely apologize for this delay but I cannot give you a date at this time.Agent payments continue to be our…

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Added by Brian Headrick - NRBA, A-REO on October 18, 2011 at 10:00am — 5 Comments

YouTube Docu-drama on Foreclosures

I am currently working on/producing a YouTube docu-drama (my term for documentary/drama mini-series) on foreclosures in my home state. It is called Life in Foreclosure. The plan is to document all aspects of foreclosure with interviews from asset managers, investors and even people who have lost their home to foreclosure.

 

Check out the link and let me know what you think:  http://youtu.be/1q88A4fmKQQ

Added by Nick Miller on October 17, 2011 at 9:04pm — 2 Comments

Build Wealth- Selling Real Estate or Buying?

We all get busy completing tasks, taking new assignments, closing out old ones....... Day in and day out, working toward the next commission check we sometimes focus so much on the short term we lose sight of the long term.

It has been  apx 6 years since we sold our last investment property and we are ready to jump back in. Going to focus on some long term rentals as well as some short term rehabs with a partner.

What are you doing as a real esate pro to set you up for life?

Added by Michael Johnson on October 17, 2011 at 9:29am — 2 Comments

9 Ways to Solve the Housing Crisis



 



A group of lawmakers  and industry experts from both sides of the aisle got  together in Washington, D.C., yesterday —  brought together by think tanks Progressive  Policy Institute and e21 — and came  up with some pretty interesting ideas for  solving the housing market’s woes.



Some of the ideas floated during the New  Solutions for America’s Housing Crisis conference were really novel, like  reducing student loan payments so young people have more money to put…

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Added by Amy Gerrits on October 15, 2011 at 12:26am — No Comments

Evaluation Solutions Update on NON PAYMENTS- evalonline.net

Thanks for all of your responses about Evaluation Solutions not paying for BPO jobs you have completed. It looks like that this company has been doing this to all for a long time. I need more testimonials of your experiences with this company so i can forward to the attorney generals office. we are going to look into class action so you would be invited to participate. please send me everything you have and don't hold back! thx

Added by Brian Headrick - NRBA, A-REO on October 13, 2011 at 8:36am — 30 Comments

Stimulus doesn't work











  

  Stimulus doesn't work......why you may be asking? Because

the people who put the numbers together may or may not realize that the numbers

they are working from are not as accurate.....as they could be. Now, you might

be wondering why I would be…

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Added by Jesus (Jesse) Gonzalez on October 11, 2011 at 9:25am — 3 Comments

Mainstreet Valuations BPO Fees

Hello,  Can anyone tell me more about Mainstreet Valuations.  I signed up with them a few months ago, and recently received a couple of BPO orders.  The problem is that both orders were more than 25 miles from my office and they were only paying $20 per order.  Is this thier standard BPO fee?   I can't do BPO's for $20 that is an insult.  Needless to say I turned them down. 

Is anyone doing $20 dollar BPO's for Mainstreet?  I have done property condition reports for other companies…

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Added by John Giammarco on October 8, 2011 at 6:36am — 7 Comments

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