REAction Realty

Would you take an REO in the worst area of the city?

2008-09-18T19:54:59Z

I have recently been asked by a local regional bank in Southern California to take on the task of getting a property ready for sale. This property is in a crime ridden and blighted neighborhood, half of the 4-plexes in this area are abandoned. I will have to perform the typical duties that come with an REO, including talking to the tenants and making sure that the property is secured if any of the units are vacant. I currently have 3 listings with this bank,and this new listing is from the assistant manager of the REO department, whom I have never worked before. I really want to impress her in order to get more properties, but I'm apprehensive about taking on this property. What would you do? In fact, the local paper just wrote an article about this area, here are some of the "lowlights," about the area.

-Half of the 18-fourplex buildings are boarded up, and one council member called them

"horrible."

-Going back to 2000, three killings happened in the direct area.

1. On April 4, 2002, Billy Joe Moore, 26, of Rialto, was shot and killed with a .22-caliber

rifle in a carport area of the complex. Moore and two friends were talking when a man came

between buildings of the apartment and opened fire after an argument.

Prosecutors later charged the suspect with murder, saying the crime was motivated by robbery.

2.On Dec. 26, 2006, Jose Ojeda, 26, of Bloomington, was shot while driving a car outside the

complex, in the 500 block of North Meridian Avenue. His friend was wounded. This case hasn't

been solved.

3. On June 9, 2007, Julio Cesar Lopez, 18, of Long Beach, was gunned down behind the Meridians,

in a parking lot area. An area teen was captured within hours and charged with murder.

Detectives believe that Lopez witnessed a fight between a group of people there and went to

break it up. He then got punched in the face and shot.

http://www.beloblog.com/Pe_Blogs/sbhomicidewatch/2008/09/the-meridians-a-recent-homicid.html

What would you do?

REO Lender Owned Property 632 W. Marshall Blvd. San Bernardino CA 92405 $138,800 3Bedroom/1 Bath

2008-09-10T13:10:50Z

Photo Gallery

Description

This is a Lender Owned home priced aggressively to sell fast! This home is nicely situated in North San Bernardino with a scenic view of the rolling hills and nearby San Bernardino mountains. The home sits on a 10,800 square foot lot with a large backyard and an outdoor workshop. This charming home resides on a shady tree lined street and recent upgrades, such as dual paned windows, adds to its curb appeal. The home smartly takes advantage of its square footage and the floor plan includes a separate family room, dining room, new electrical, eat in kitchen and indoor laundry room.This affordable 3 bedroom 1 bath home is conveniently located close to shopping, schools, parks, and the 30 FWY for your daily commute. This BANK OWNED property will generate a lot of interest, act now to buy this great home!

Features

Bedrooms:	3
Bathrooms:	1
Parking:	3
Year Built:	1930
Lot Size:	10800
School District:	San Bernardino City Unified
Square Footage:	1272
Agent Name:	Ron Sosa
Broker:	Ron Sosa
MLS #:	I08092701

Location

632 W. Marshall Blvd. San Bernardino CA 92405

vFlyer Id: 1777766

Do You ChaCha? New text message service that will revolutionize how we get information...

2008-08-24T16:41:57Z

And I don't mean the dance. I am talking about a new text messaging service that will revolutionize the way we get information on our cell phones. ChaCha is a new service that is like 411 on steroids, you can text "242242" on your cell phone and ask it anything you want and within a short period of time it will give you back an answer. It's akin to having a smart friend answering all your zany questions on the fly. I asked it several questions and here are the responses that I received:

Q: What's worse on your credit report; a foreclosure or short sale and by how much will it affect your score on each score?

A: (ChaCha) There's no credit preservation advantage to short sales over foreclosures. Both are going to ding your FICO score for 10 years. (nice, it knows real estate!)

Q:How long is an average man's lifespan in the USA? (I asked it this because I'm fatalistic, nah, j/k!)

A: (ChaCha) The average life expectancy of a Latino American is 74 years!

Q:Is there bat poop in Mascara? (This one, my wife had to ask about...)

A: (ChaCha) No. There is a naturally occurring DNA compound, called Guanine, in mascara that is also found in Bat guano.

And last but not least, I had to ask it about the upcoming Presidential Election in November...

Q: Who will win this year's Presidential Election, according to the polls?

A: (ChaCha) According to most general election polls, Obama is favored to win in 7/9 of them! He has a +1.4 point spread. Things can change though!

It's a cool service and I have been accepted to become a guide on this new application. I hope to incorporate this new app on my future website as a widget on my site in the near future. Check it out, you will be addicted as I was. ChaCha on!

How to get list of Lender Owned Properties for Free w/no strings attached.

2008-08-06T00:33:42Z

I am currently working the REO (Real Estate Owned) side of Real Estate and have been on both sides of the negotiation table when it comes to Lender Owned Properties. I have successfully closed on REO’s and am currently selling these properties for a regional bank in my area. REO’s are my niche and the bulk of my clients are looking for these types of properties to buy. I have developed a very slick way to narrow down their search of REO’s in the Inland Empire by using the MLS search tool to send them automatic emails of REO properties in San Bernardino and Riverside County. If you are interested in joining the mailing list of Lender Owned Properties, please send me the location, # of bedrooms/baths, square footage, etc., and I will get this list out to you via email with no strings attached.

Lender Owned Property REO 632 W. Marshall Blvd., San Bernardino, CA $152,500

2008-07-21T13:37:48Z

Ron Sosa | Reaction Realty Executives | 951-315-7711

632 W. Marshall Blvd., San Bernardino, CA

This is a Lender Owned home priced aggressively to sell quickly. This home is nicely situated in North San Bernardino with a scenic view!

3BR/1BA Single Family House

offered at $152,500

Year Built	1930
Sq Footage	1,272
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	1
Parking	3 Car garage
Lot Size	10,800 sqft
HOA/Maint	$0 per month

DESCRIPTION

This is a Lender Owned home priced aggressively to sell fast! This home is nicely situated in North San Bernardino with a scenic view of the rolling hills and nearby San Bernardino mountains. The home sits on a 10,800 square foot lot with a large backyard and an outdoor workshop. This charming home resides on a shady tree lined street and recent upgrades, such as dual paned windows, adds to its curb appeal. The home smartly takes advantage of its square footage and the floor plan includes a separate family room, dining room, eat in kitchen and indoor laundry room.This affordable 3 bedroom 1 bath home is conveniently located close to shopping, schools, parks, and the 30 FWY for your daily commute. This BANK OWNED property will generate a lot of interest, act now to buy this great home!

see additional photos below

PROPERTY FEATURES

Fireplace	Walk-in closet	Hardwood floor
Living room	Dining room	Breakfast nook
Laundry area - inside	Yard

OTHER SPECIAL FEATURES

Scenic Views

Large Yard

Outdoor Workshop

ADDITIONAL PHOTOS

Seller contact info:

Ron Sosa

Reaction Realty Executives

951-315-7711

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 25, 2008, 7:23pm PDT

Lender Owned Property REO 5659 Surrey Lane, San Bernardino, CA 198K

2008-07-21T13:34:29Z

Ron Sosa | Reaction Realty Executives | 951-315-7711

5659 Surrey Lane, San Bernardino, CA

This is a great opportunity to buy a lender owned property on a 1/2 acre in North San Bernardino. The home has a huge backyard and is situated in a

3BR/2BA Single Family House

offered at $198,000

Year Built	1968
Sq Footage	1,392
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	20,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

This is a great opportunity to buy a lender owned property on a 1/2 acre in North San Bernardino. The home has a huge backyard and is situated in a great neighborhood near Cal State San Bernardino. This house is ideal for a first time homebuyer or a savvy investor looking for a "diamond in the rough." This home will generate a lot of interest because of its aggressive pricing and proximity to amenities such as shopping, schools, and recreation.

see additional photos below

PROPERTY FEATURES

Fireplace	Tile floor	Family room
Living room	Dining room	Granite countertop
Yard

COMMUNITY FEATURES

Garage parking

OTHER SPECIAL FEATURES

REO property on One Half Acre

ADDITIONAL PHOTOS

Seller contact info:

Ron Sosa

Reaction Realty Executives

951-315-7711

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 18, 2008, 4:00pm PDT

REO Property for Sale only 91,000 in San Bernardino California

2008-06-14T23:42:35Z

Ron Sosa | Reaction Realty Executives | 951-315-7711

1133 W Victoria St., San Bernardino, CA

This home is lender owned and needs a lot of work but it is an excellent value for a first time home buyer or investor.

3BR/1BA Single Family House

offered at $91,000

Year Built	1801
Sq Footage	862
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	1
Parking	1 Car garage
Lot Size	7,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Real Estate Owned (REO) Property. I'm not going to sugarcoat this one, this property has seen better days. It' more than 200 years old and needs a lot of work. Please contact me for more information.

see additional photos below

PROPERTY FEATURES

High/Vaulted ceiling	Living room	Dining room
Yard

COMMUNITY FEATURES

Covered parking

ADDITIONAL PHOTOS

Seller contact info:

Ron Sosa

Reaction Realty Executives

951-315-7711

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 14, 2008, 7:15pm PDT

How many of you blog on AR from your smartphone?

2008-06-01T23:14:14Z

As I sit at the airport waiting for my flight, the thought occurred to me that I could use this time to blog from my newly aquired Treo 750 smartphone. The data plan on this phone allows me to acess the internet and the connection isn't too bad. I'm just starting to get the hang of typing with my thumbs (I hope that I don't develop a case of early arthritis!) Anyhow, I even have started to use my phone to take pictures and submit them via flickr to my personal blog located @ www.inkansun.com/blog . Granted this particular website is not Real Estate related but many of the same concepts will go into my future Real Estate website. I have purchased the rights to the domain name inlandempirerealestatebroker.com and look forward to applying this technology to help grow and build my business!

Advertise in those pesky coupon mailers, do you?

2008-05-17T00:39:40Z

So as I was waiting for my order at my favorite Mexican Restaurant (Casa Maya) in Redlands, I happen to glance and flip through those coupon mailers everyone gets in their junk mail and trash without a second thought, well, unless you are really frugal like me. You see, It's not that I'm cheap or anything, I like to call it "economical," anyhow, you get the point! So, I happen to look through these mailers from time to time and cut out the real important coupons and hand some over to my wife for the local merchants she frequents around town.

Anyhow, I stumbled across some ads from Realtors in local area advertising in these things. I was wondering, what type of business they generate from these coupon mailers? Also, if you do attract clients, are they cheap? (I mean economical, like me?). I would imagine that this demographic would want to get some sort of bargain from you. You know, have you list their homes on the cheap... OK, so one of the Realtors was offering her potential customers 1500 bucks for any listing or buyer she generated. So I'd imagine that this agent was trying to appeal to our frugality. I get it.

Still, as a Broker, I'm not sure that I would spend my hard earned money on these mailers because it may not convey an image of sophistication and depth. On the other hand, in these tougher economical times, it may attract bargain hunters trying to stretch their dollar and then they see your ad telling them that you will fork over 1500 bucks if you list or help them buy a property, this tactic may appeal to some. Let us know what your experiences have been and give me your thoughts about these coupon mailers?

Best way to rack up points on AR?

2008-05-10T01:29:51Z

What is the best way to rack up points on A/R? I Want to be featured 1st in my area...

REO's in the Inland Empire

2008-05-03T20:15:17Z

I have just started working with a couple of banks and am now helping them sell their homes. I'm very excited at the prospects of making this my main focus.