One of the best tips I got from the REOMAC conference was regarding Federal Deposit Insurance Corporation (FDIC) assets. Basically, the FDIC takes over banks almost every week on Friday evening and then announce the take-over the following Saturday. In this economy this isn't exactly groundbreaking news. We've come to expect it. So, what's the real lesson here? Simple. If you track the sale of bank assets in your area, you'll know when the bank assets are going to be reassigned. Which means you'll also have an idea when the REO properties are due to hit the market. Read more »
How is Shadow Inventory Affecting the Housing Market in California?
Shadow Inventory is the number of foreclosed homes repossessed and processed by the banks that have yet to be put back on the market. It's the difference between actual distressed home inventory and the number of homes fully processed and listed on the market for sale. The gap is created by the actual number of loans in delinquent status or in foreclosure that are being held or longer periods of time by the banks. It is estimated that there is an overhang of 7 million loans – these loans are going to liquidate soon and will contribute to the growing shadow inventory in the real estate market in California. Read more »
Good Times at the Five Star Conference in Dallas, Texas
While I'm getting ready to head back from the REOMAC Conference in Florida, and before I post another on-site update, I thought I would let you know how things went at the Five Star Conference in Dallas. Overall, the Five Star Conference seemed much more organized than it was last year. I personally think Dallas is more metro feeling than Fort Worth, and the conference was definitely less hectic. The fact that they sent out the registration badges before the event instead of having attendees pick them up at registration saved a lot of time and eliminated the usual long lines to get into the event. I had the best intentions before I arrived in Dallas. I compiled a long list of seminars and panels I wanted to attend, but I didn't get a chance because I was meeting with clients. Don’t get me wrong, I prefer meeting with clients and catching up with contacts, but I had hoped to catch at least 50% of my seminar list. I would have loved to tell you what I thought about the sessions, but I can’t really say either way. Read more »
REOMAC Fall Conference 2009 – Update #2
Well, it's the last day of the REOMAC Fall Conference and I've had a great time so far. I wanted to post this quick video in the lobby of the Westin Diplomat Resort before they wrap things up and I get ready to head back to Bixby Knolls, CA. Read more »
Old Republic Testimonial for Mark Shandrow
It’s the last day of the REOMAC Fall Conference in Hollywood, Florida, and I had a great time catching up with some of my long-time clients. A client and good friend, Jim Charlesworth of Old Republic, was kind enough to stop for a moment and say some nice words about Shandrow Group: I can’t thank [...] Read more »
First Update from REOMAC Fall Conference 2009
Well, here I am at the Westin Diplomat Resort in Hollywood, Florida waiting for the REOMAC Fall Conference to begin. Check out the room and the view: I’m just about to head out to the day’s events, but I wanted to give you a quick peek at the resort and pool I’m about to enjoy. [...] Read more »
Check Out this Latest Reassignment
I talk a lot about getting REO re-assignments on my coaching calls with the Harris Real Estate University. I love reassignments. A reassignment is when the bank gives you the listing after another agent was unsuccessful in getting the property sold. These are great for our team because all the hard work has already been [...] Read more »
Heading out to the REOMAC 2008 Fall Conference in Hollywood, Florida
The REOMAC Fall Conference 2009 is taking place in Hollywood, Florida this year and I’m flying out tomorrow to attend. It kicks off on Wednesday, October 14th, and runs until Saturday, October 17th. I’m really looking forward to the educational and networking opportunities that this conference offers. I just got back from the 5 Star [...] Read more »
Sheriff Lock Out at 9217 Dorrington Place
Here is a Real Time REO Reporting video of a sheriff lock out up in Simi Valley.  This video is a little longer than my usual videos. It is 7 minutes compared to the usual 3. I was trying something a littler different. I also included a small interview with the previous owner. He talks [...] Read more »
Win Tickets to the Cal Heights Annual Home & Garden Tour
The Cal Heights Annual Home and Garden Tour is coming up on Sunday, October 11th 2009! Have you ever wanted to see the historic homes of Cal Heights & Bixby Knolls? The Cal Heights Tour is a great way to get an in-depth look at some of the oldest homes in the neighborhood. Also, if you are thinking about remodeling this is a good chance to look at some great homes with spectacular interior and exterior design. Read more »
