From the category archives:

Asset Managers & REO

Will the Home Buyer Tax Extension Help or Hurt the Housing Market?

November 11, 2009
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Is it too early to get excited about the home-buyer tax credit extension?

If you read the news last week, you’ve probably heard that the Obama administration has extended the Home-buyer Tax Credit from its original expiration date of November 30, 2009 to March 30, 2010. The government also added a provision for current homeowners that would allow them to sell their current homes and receive a $6,5,00 tax credit when they purchase their next home.

In California, one of the hardest-hit and most expensive housing markets, it may be too early to tell how this extension will affect us in the coming months. Some analysts argue that the tax credit’s impact has generally been overstated and that its impact going forward is likely to be uneven, but the psychological effects for new home buyers could give the economy a greatly needed boost.

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Great Tips from the REOMAC Fall Conference 2009

October 22, 2009
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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.

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Check Out this Latest Reassignment

October 14, 2009

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 done.  [...]

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Mortgage Disclosure Improvement Act: How Does it Help Home Buyers?

September 14, 2009
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What is the Mortgage Disclosure Improvement Act? Basically, the federal government has put forth a legislation that replaces the 3-day waiting period for initial disclosure with a 7-day waiting period that does not include Sundays or holidays. Also, before the borrower can close on a transaction, they must receive the initial Good Faith Estimate (GFE), and the initial Truth in Lending (TIL) statements quoting the final Annual Percentage Rate (APR) seven days prior to closing.

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Shandrow Group Featured in German Documentary on California Foreclosure Market

June 15, 2009
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Shandrow Group Goes International!
We’re proud to announce that Shandrow Group will soon be making its European television debut in a German “60 Minutes”-style documentary on the booming California foreclosure market.
We were honored to have Munich-based FOCUS TV Produktions GmbH along for the ride for an entire day last week as editor Kirsten Moser and her [...]

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Compton Bank-Owned Fixer-Upper for Bargain Price

May 1, 2009

BARGAIN-PRICED.
BANK-OWNED BENEFITS.
PRIME FIXER-UPPER.
PRICE: $69,900
ADDRESS: 407 S. Acacia Ave., Compton, CA 90220
TYPE OF HOME: Single family, 2 bed, 1 bath
HOME SIZE: 944 sq. ft.
LOT SIZE: 5,200 sq. ft.
YEAR BUILT: 1915
HIGHLIGHTS:
* Large, natural light bathed windows
* Ceiling fans
* Spacious yard (surrounded by white picket fence)
* Tiled shower and soaking tub
* Custom built-in bookshelves, storage and cupboards
* Tiled [...]

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Mark’s Insider Notes From the Spring 2009 Reomac Conference

April 8, 2009

I had the pleasure of joining 3,000 fellow real estate agents earlier this week as we converged in Palm Desert, Calif. for the spectacular Spring 2009 Reomac Conference. There I gained the latest insider news on successful short sales, foreclosure inventory, loss mitigation and a host of other hot real estate topics that will strengthen [...]

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Historic Bank-Owned Home for Sale in L.A.’s Wilshire Area

March 23, 2009

Call Today to Schedule a Personal Tour
Or—NEW!—Make an offer online NOW!

Address: 1424 S. New Hampshire Ave. Los Angeles, CA 90006-4510
Home Type: Historic single-family, single-story, BANK-OWNED

Price: $369,900
Square Feet: 1,281 sq. ft.
Lot Size: sq. 4,150 sq. ft.
Rooms: 3 bedrooms, 2 baths
Year Built: 1907
Extras:
Newer windows and roof
Central heating/cooling air
Recently renovated kitchen and bathroom
Recently refurbished hardwood floors and fixtures
Secure [...]

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Top Reasons to Sell Your Home Via Short Sale

March 13, 2009

Perhaps you’re “upside down” on your house and can no longer afford your mortgage payments. Maybe you owe more than the property is worth and simply can’t refinance. Or, it may be that you still can’t handle your house payments even after modifying your loan or reducing your interest rate. Times are tight and you’re [...]

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Short Sales 101: What’s All the Buzz About?

March 12, 2009

So you’re seeing the words “SHORT SALE” splashed all over real estate signs across town, on the news and in the headlines. Short sales are everywhere, but exactly WHAT ARE THEY and WHO BENEFITS from them? Let’s take a quick, painless, non-confusing look. You’ll be clued-in in no time, and if you have any questions, [...]

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