It’s always great news when our clients are surpassing their expectations in AM performance. We want to congratulate BLB Resources’ on their recent HUD performance report. For the period of December 5, 2010 – December 31, 2010, BLB Resources was ranked at the top. They received a # 1 ranking for contract region 1S (AZ, [...] Read more »
Shandrow Group’s Mid-Year REO Client Survey Results
To serve my clients better, and to ensure I’m meeting all of their REO and Short Sale needs, I conducted a mid-year performance review about Shandrow Group’s service and communications. I sent a short survey out by email courtesy of SurveyMonkey, to ask the opinion of my Shandrow Group newsletter subscribers. My subscribers consist of [...] Read more »
Los Angeles Launches New Registration Ordinance for Foreclosed Properties
If you live in Los Angeles County, you can soon say goodbye to rundown vacant homes with overgrown lawns, broken windows and graffiti as city officials announced the launch of new efforts to clean up recently abandoned foreclosed properties. Effective July 8, 2010, a LA city ordinance will help building inspectors identify the banks that [...] Read more »
Are You Eligible for the Home Buyer Tax Credit Extension?
If you’ve watched the news lately, or read the thousands of news articles and blog posts that hit the internet this past week, you’ve probably heard that the First Time Homebuyer’s Tax Credit has been extended to September 30th, 2010. This new legislation, passed by congress last week, will allow thousands of new homebuyers to [...] Read more »
Will the Home Buyer Tax Extension Help or Hurt the Housing Market?
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. Read more »
Great Tips from the REOMAC Fall Conference 2009
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 »
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 »
Mortgage Disclosure Improvement Act: How Does it Help Home Buyers?
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. Read more »
Compton Bank-Owned Fixer-Upper for Bargain Price
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) [...] Read more »
Shandrow Group Featured in German Documentary on California Foreclosure Market
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 [...] Read more »