Posts Tagged ‘ foreclosures ’

Top 5 ½ Issues With REO Sales Revealed

I’ve sold a ton of REOs (Real Estate Owned homes – foreclosures) to first-time homebuyers – many of whom I’ve met through HomeGain.com. Before we start looking at homes, I take time to meet with them and explain the entire process in as much detail as necessary. I hate surprises, and I’ve discovered buyers don’t like them either. I want my clients to fully understand the process so they know what to expect once we hit the streets.

In the process, I’ve discovered a sad truth. No amount of discussion or explanation ahead of time can adequately prepare prospective buyers for the process of trying to buy an REO in the current market.

I recently came across a video that so perfectly sums up the process of buying an REO – I decided I have to share it with you. As I watched it for the first time, I discovered I was unsure how to respond … should I laugh … or cry …

You decide.

For additional musings on REOs, also read:

  1. Top 10 Things I HATE About REOs: AND 3 Startling Consequences
  2. How To Buy An REO – Top 17 Questions Answered
  3. Bank Tactics Causing Repeat Of Crash Conditions in San Francisco Bay Area

Thanks to San Diego Castle Realty and Kris Berg for producing the video!

Watch the video on YouTube

Share

Posted by: Carl Medford on October 26th, 2009 under Buying or Selling a Home, Short Sales and Foreclosures

2 Comments »

19 Secret Google Search Tricks

Here are some Google Search secrets to help you better find what you’re looking for: (wait, since I’m telling you, they’re no longer secret).

rabbit-hat1. Use quotation marks to search for the exact phraseco-op board rejection

2. Use the pipe (|) (it’s above the backslash \) for an either/or search (or use the word “or”): fsbo|by owner.

3. Use two periods (..) to find information within a number range, including years: worst housing markets 1980..2006.

4. Use a minus sign (-) to exclude search results: worst housing markets 1980..2006 -best. (since the search without the minus sign usually includes best and worst, use the minus sign if you only want the bad news)

5. Find similar keywords with the tilde (~): ~cheap homes. You get auctions, foreclosures, investors, etc. The tilde is an under-appreciated stroke (which makes it good for passwords)

6. Use the wildcard star (*) if you don’t know the missing word: a man’s home is his *.

7. Get a definitions by typing “define:” before the word: define:foreclosure.

8. Math calculations (hey Realtors, it’s good for figuring a commission): 548,000 x6%.

9. To search a term in a particular blog or website use “site:” before the URL. Useful if a website or blog doesn’t have a search box: site:blog.sellsiusrealestate.com zillow.

10. Type in the area code or zip code to find out the city name: 646. Continue reading this post

Share

Posted by: Joseph Ferrara on June 25th, 2009 under Online Marketing

2 Comments »

Wake Up Call To Selling Foreclosures

It’s no common secret that the real estate market over the past year has continued to dramatically change towards a market concentrated in short sales, foreclosures and REO’s.  

For those of you that don’t know what REO means — it means Real Estate Owned.  It’s a term used to identify a property is owned by a bank.  Banks actually consider REO’s a liability instead of an asset because they are in the MONEY business not real estate business. 

As a Top Selling Team in Tampa and St Pete, we have modified our business to help service these “niche” markets.  In the first quarter of 2009, nearly half of our business was selling (either listings or homebuyers) distressed properties.  We have learned through much education, courses, certifications, and trial and error the best ways to represent buyers and sellers in these specific situations.

If you are a Realtor and haven’t started working these markets — WAKE UP!  If you are in a market that has not been hit as hard with foreclosures, don’t worry its coming.  It’s time to prepare now.  

If you are a new real estate agent, read up!  I had a new agent join our team this week and just like I’d send this information to a prospective home buyer, I wanted to review it and tailor it to him so he understands the urgency needed to work buyers on bank owned houses.

Below are tips for Realtors representing buyers on bank owned homes. Continue reading this post

Share

Posted by: Andrew Duncan on May 8th, 2009 under Buying or Selling a Home, Short Sales and Foreclosures

6 Comments »

15 Things I Observe About Today’s Real Estate Market

1. Big Discount – Home buyers want a big discount from list price. If the market value of a home is $400,000 and you price it at $375,000 to sell it quickly, buyers still want a large discount from list price.

2. Sellers Pain – If the home seller does not appear to be in pain many buyers won’t feel like they are getting a good enough deal. Even, if they are getting a heck of a price for the home.

3. Foreclosures – Buyers tend to think that all foreclosures are a sweet deal. That is not always the case. 

4. Short Sales – Many banks still stink at getting a short sale approved quickly. A friend of mine recently had a short sale close and said the bank had 17 different people touch the file. No wonder the banks are in trouble.

5. Bad News – Sellers are quick to ignore the bad real estate news but very quick to latch on to the good news.

6. Good News – Buyers are quick to ignore the good real estate news but very quick to latch on to the bad news.

7. Time to spare – Many home buyers feel like they have all of the time in the world. Continue reading this post

Share

Posted by: Marc Rasmussen on February 24th, 2009 under Buying or Selling a Home, Guest Bloggers, Market Trends

4 Comments »

Warnings to Real Estate Investors in 2009

Michael Gwynn is a student of real estate. Although he holds a California Real Estate License and multiple investment properties, Michael is currently immersed in the world of online marketing solutions that connect real estate agents and brokers with home buyers and sellers as the Sales Director at www.HomeGain.com.

In today’s world there are many financial casualties associated with the failing real estate market. There are many homeowners who purchased properties and had little knowledge, experience, or insights into the real estate market. But, there were also a number of real estate investors that could have and should have known better. These good investors had experienced bad outcomes with their property purchases because of the lures, pitfalls, and hazards associated with the world of real estate. These lessons are important to learn because there are many new and experienced investors jumping back into real estate in 2009.

Those who do not learn history are destined to repeat it.

There were several factors and causes for these bad outcomes for these good investors. Some were lured by the gains reported in many publications. Others succumbed to the attractive sirens of the real estate Guru’s.

There were those who did not understand the order of purchasing investment property because they purchase equity growth properties before income properties.  Many purchased at the peak of the price points. Other wanted only to stay in their local markets. Miscalculations were made on the costs for holding properties.

The potential issues of holding property were never realistically expected or prepared for by the property purchasers. Methods to truly analyze a real estate market and economy were not effective.  Technology and available information was not used to its best potential. Real estate professionals were seen as the enemy and not used appropriately in the transactions. Many did not understand the cycles involved in real estate. Continue reading this post

Share

Posted by: Michael Gwynn on February 18th, 2009 under Buying or Selling a Home, Market Trends

3 Comments »

Hear Success Tips for 2009: “Ask The Experts” Forum

HomeGain hosted its second “Ask The Experts” live real estate forum yesterday. Due to the success of the August Ask The Experts, HomeGain kept to its original format and featured four experts to each speak on a different real estate issue and answer questions from the audience.

Several hundred real estate agents and brokers registered for the event to listen to Mitch Ribak, Alisha Wade, Joseph Ferrara and Brian Brady give advice for succeeding in a turbulent market.

If you weren’t able attend, or would like to hear it again, you can listen to the December 4th Ask The Experts recording at your convenience.

What was each experts topic?

Continue reading this post

Share

Posted by: Jessica Gopalakrishnan on December 5th, 2008 under Ask the Experts

2 Comments »

For Real Estate Agents

Online Marekting Solutions

For Home Buyers and Sellers

e.g., 1250 S Main St, Burbank, CA or 91506
     Search Foreclosures    Search New Homes    Search Rentals    

Blog Categories

Blog Archives

Real Estate Blogs

Top Articles

Recent Comments

Guaranteed LeadsReferral Lead ProgramListings PackageVisits to your WebsiteFind REALTOR®Homes For SaleHome Values