Here's my gripe...National Property Preservation Companies, a great concept if they hire the right local contractor, BUT when they don't it can be a nightmare. May I introduce some of my recent encounters?
John aka the drunk guy- He was supposed to meet me at a property to bid on some fire damage repair. He missed two appointments, and then… Continue
Added by Billie Dalessio on May 27, 2012 at 9:22pm —
In the past I added Home Trust Nation to the "never pay" list. Now I would like to update. In March 2012 I was contacted by Brandi. She said she was going through some old files and wanted to make sure that I had been paid for my work. This was a pleasant surprise. She was very professional and apologized for the oversight. It appears that a former employee has incorrectly filed the orders. She sent me out a check with another email apology. I was happy, and told her no worries. I received… Continue
Added by Billie Dalessio on May 12, 2012 at 1:45pm —
Ok, I was reading Jessie's 2011 take on "How do I get my first REO listing?" and it got me thinking. So many agents think that once they get an REO listing they'll be on the easy money train. It just does not work that way. If this is the niche you decide to choose, be prepared, it is not glamorous.
First there are the properties, sure you might get lucky and get some 3 year old mini mansion, but more likely you'll get a mixture of suburban and urban properties to sell. In the past… Continue
Added by Billie Dalessio on January 13, 2011 at 10:02pm —
To all Broker and Agents;
Due to the foreclosure processing problems being addressed by XYZ, we have been advised not to list any assets or accept any offers until this is resolved.
In the interim, Agents are still responsible for managing and marketing the assets per the listing… Continue
Added by Billie Dalessio on October 21, 2010 at 4:10pm —
Living in Connecticut I have been watching all news about the terrorist attempt in NYC. Today's news update; the suspect Faisal Shahzad Shelton, CT home is in foreclosure, and he had moved to an apartment in Bridgeport CT. sometime last May. Chase Home Finance sued Shahzad in Sept. 09 to force the foreclosure. This is all "too close to home" as they say. I am in Shelton & Bridgeport all the time, luckily it won't be me offering him CFK, as he is already out. The most frightening thing to me… Continue
Added by Billie Dalessio on May 4, 2010 at 1:21pm —
Just got off the phone with one of my REOPRO buddies. This site is such a great resource-(but that's another blog). We were discussing recent REO training we have both been "strong armed" into taking. Look, I am all for learning new information, and I don't believe I know it all. It started me thinking, in some States you can get a waiver from taking the Real Estate Broker Exam, if you have adequate education, experience etc. In the past 30 days I received 2 new REO certifications, In my… Continue
Added by Billie Dalessio on April 30, 2010 at 8:22pm —
I have said it many times in the past but Congrats to Jessie & Thanks for creating this wonderful professional place where we can learn & share. Like most of you, I found this site by accident while searching for information on a asset management company that wanted to do business. It quickly became my "go to place" when researching which companies are worth associating with, as well as obtaining great information from agents across the country.
Added by Billie Dalessio on February 11, 2010 at 12:55pm —
All REO Brokers, for that matter all Real Estate Professionals should watch the panel questions to learn about the financial crisis. It is available for viewing at www.c-span.org
In the on-going blame game that has been in effect since the beginning of the crisis, this is the most fair and balanced of each parties viewpoint, without media bias one would find on politically motivated networks. Most people have an opinion on the root cause of the meltdown. Some… Continue
Added by Billie Dalessio on January 13, 2010 at 10:50pm —
According to a recent article in Managing REO-
With the passage of the Protecting Tenant at Foreclosure Act, the expansion-minded TenantAccess is increasing its capacity to service all of the United States.
The company, a subsidiary of FirstService Corp., recently hired 348 property managers to be in charge of maintaining buildings, paying bills, collecting rents and communicating with tenants. As a vendor to property owners, including government agencies, TA’s forte is… Continue
Added by Billie Dalessio on December 17, 2009 at 10:56pm —
By now thanks to recent articles in The Wall Street Journal, New York Times, Bloomberg, CNBC and other media, so called Shadow Inventory has come to the mainstream, but it is more elusive than Sasquatch. Real Estate Agents have been blogging about this for months. For those who may have missed it, Shadow Inventory is the defaulted loans that the lenders are allegedly not releasing for sale. According to Rick Sharga, VP of RealtyTrac “We believe there are in the neighborhood of 600,000… Continue
Added by Billie Dalessio on October 9, 2009 at 9:40pm —
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 —