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Jonathan's Blog (13)

First Call For Help Teleconfrence Workshop Successful?

 

This call will also target owners and renters that are occupying homes at risk of foreclosure. More important, it cost almost nothing to educate hundreds if not thousands of people at on time.   Our first call was a success and we are looking to partner with agents around the country to do more. Please listen to the audio of the first call, in which 50 people attended.  This is better than any workshop I've held or seen when it comes to foreclosure. …

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Added by Jonathan on June 7, 2011 at 8:58am — No Comments

BPO Mills, Are They Valuable to REO Agents?



BPO MILLS, ARE VALUABLE TO THE REO AGENT/BOKER?



More often then not, I hear agents and brokers say that BPO mills are a waste of time because they don’t lead to listings. I, at one time felt the very same way. However as my business has flourished and Reo Listings are more…

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Added by Jonathan on February 14, 2010 at 7:30pm — 9 Comments

Why Fannie Mae REO's are Often Priced Higer Than Market Value in California.

More times than not it seems as if Fannie Mae REO’s are priced extremely high in CA, compared to list prices of other REO properties. Sometimes understanding why something is done is half the battle, and it helps ease the frustration of completing a excellent BPO only to have the client list the property 20K higher than suggested list price.

A few months ago, I had the opportunity to sit in on a…

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Added by Jonathan on February 13, 2010 at 1:06am — 12 Comments

Managing a Successful Operation

Managing a Successful Operation











Rather you're a large real estate company or a one person operation; a system must be in place for you to manage your work flow in order to be effective and efficient in real estate today. E-Broker House (EBH) is a system that every office and or agent should not go without.











Short-sale transactions and, Bank owned properties dominate the market and are not going away anytime soon, as well as,… Continue

Added by Jonathan on January 30, 2010 at 9:24am — 7 Comments

Loan Exit Option Program aka LEO Homtelos

There are so many great things to say about the Loan Exit Option program, I don't know where to begin. So I will start from the beginning. When I was initially approached to participate in the pilot of this program, my biggest concern was the stigma that word Short Sale have. Traditional short sales on average take 60 days before a negotiator is assigned to the file. Then an additional 60 days and multiple BPO's before an approval is rendered. By this time buyers are frustrated, sellers are… Continue

Added by Jonathan on October 2, 2009 at 2:55am — 4 Comments

What FHA Buyers & Their Agents Should Know When writing offers on Fannie REO

I've prepared this blog with the hope that it will educate and streamline the process for First Time FHA Buyers and their agents when writing offers on Fannie Mae REO's; of which we should see a large supply in the near future.



Our market has changed and is not a traditional market any longer. As Realtors/Brokers & buyer's we all must adjust. Adjust to the fact that FANNIE Mae’s reo RPA supercedes all State RPAs (Residential Purchase Agreements). Fannie is also exempt from normal… Continue

Added by Jonathan on May 7, 2009 at 10:30pm — 8 Comments

Pre-Approved Shortsales Breaking Out?

Well, I've bloged about this several months ago. Pre-Approved Short Sales!! I closed my first one 2wks ago and from list to close total time was 40 days. Yes 40 days, I recieved a list price 96 hours after submitting my BPO, which was priced 10K below my BPO value. I got multiple offers within he first7 days on the market and the property sold for 5K more than list price (Closer to my BPO value). My local board rules require us market any short sale as such, which in the past and sometimes… Continue

Added by Jonathan on April 11, 2009 at 1:27am — 9 Comments

Northern CA Buyer's Agent Wanted!!! ( Lodi & Stockton)

I'm currently looking for a movtivated buyer's agent that can work a growing terriroty in Stockton & Lodi. If you know of anyone looking to get there feet wet in the REO business representing buyers, assisting with MSR and Prop Mgmt, send them my way.





Sincerely,



Jonathan Burgess

Real Estate Broker

NFSTI./REO-BPO Certified







You can send an email to: offer@code3realty.com



Prospects with relationships within the public… Continue

Added by Jonathan on February 22, 2009 at 11:00pm — 3 Comments

Land Safe Appraisers (Countrywide) Killing Deals!!!

Okay,

Can someone please shed some light on why land safe appraisers are killing sales with their values? A few years ago aren't these the same group of appraisers countrywide was using to do there loans? I have now had 2 deals go sideways because of values from appraisers (of which both have not been from the local area).



As many experienced REO agents know the banks, our clients have an appraisal on file prior to ever listing the property. On one particular home my BPO price… Continue

Added by Jonathan on January 11, 2009 at 9:16pm — 3 Comments

IAS & Other Expecting Increasing Inventory

BPO Training.docThought the group might find this helpful. Attached is a message I recieved from IAS. The same has been said from a few different suppliers that I'm currently working with. Anyway, more importantly for those doing BPO's you might find the attachment training doc helpful. With that being said I plan on being busy for the rest of this month so you may not hear from me for a while but… Continue

Added by Jonathan on November 10, 2008 at 12:09am — 2 Comments

ANSWER YOUR TELEPHONE!!

So you want to be an REO agent do you? Unless your just slammed with business and don't need or want anymore, why would you not answer your telephone. Two days ago I spoke with an AM that had 6 properties needing to be assigned all of which were outside of my coverage area exept for one. So being the sharing person that I am, I called & called & called. 3 listings went to my Southern CA friends/agents with Code 3. 1 to an Agent in Beverly Hills , 1 to myself and the Other to a MEGA REO… Continue

Added by Jonathan on November 7, 2008 at 2:28am — 10 Comments

My Successful Asset Manager Encounter at 5-Star

If you had the opportunity to spend 10 minutes with and Asset manger, what would you say? How would you act? What would you do? Well I have to tell you my story. While attending the 5- Star conference I actually met and AM in my REO A-Z course. She was sitting at the end of the isle that I had to access to get back to my seat during a break. Since it was still a break and she was in conversation with another attendee I stayed and listened to the conversation, introduced myself and was invited… Continue

Added by Jonathan on October 13, 2008 at 1:43am — 3 Comments

CSS (Cooperative Short Sale ) Program Comming Soon!! Home Telos

Okay, gang here's what's comming down the Pike!! When this program hits the streets short sales will truly be SHORT SALES.



Anyway, myself and 4 of my agents were blessed with being selected and trained during the 5-Star Conference via Webinare, to be on the 4 front of this new program that will be comming to a city near you soon. When you see the words Home Telo's approved Short Sale , these properties will close in 30 days or less. Thats right lender approved short sales!! What a… Continue

Added by Jonathan on October 5, 2008 at 9:30am — 6 Comments

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