Israel's Big Bear Blog

-Israel Barden Hello everybody. Thank you very much for taking the time to read The Big Bear REO blog. March is finally here and winter is on it's last legs. Thank goodness. I like snow as much as the next guy but, this year was ridiculous. I am a lifetime resident and I can never recall getting...

I have always been told that the key to success is practice. If you are planning on buying a property in Big Bear, you need to practice saying " Yes, I realize I may need to pay 10% over list price." Believe it or not, if you are planning on purchasing a well priced bank owned property, that is ...

Have you heard the old saying "Only fools rush in? " In real estate, this can be doubly true. In today's society, we are used to instant gratification. When we want something we don't even have to leave the comfort of our homes. We just go to the website advertising the thing we want, click on t...

It seems like everybody has a story about a cousin or brother in law or long lost Uncle who offered half of the asking price on a foreclosure and got it. It has almost reached urban legend status in this market. I have bad news for people that believe this story. There are no giant alligators in...

When it comes to agents that list bank owned properties, they seem to fall into two distinct categories. The first group takes their time and makes sure the house is completely ready to be sold. These agents make sure that the house and yard are clean and presentable. They also post the 18 day no...

I just wanted to give out a word of warning to anybody considering buying a short sale property. The house is a short sale because the owner is in financial straits. People in this situation can be a little unpredictable and do things you wouldn't normally have to be that concerned about. Things...

Recently, it seems like every time a good bank owned property comes on the market, it is like blood in the water with four, five or more offers coming in. If you want to have a chance at snagging one of these good deals away from the other sharks, you need to come prepared. I have prepared a sort...

One of the benefits of the market being in decline is the mass exodus of bad agents. If you are a buyer or a seller, the odds are much better that you will get a competent agent to represent you. Unlike days past when an agent just had to sit by a phone to do business, today's Realtor actually h...

Buying a bank owned (REO) property is a much different process than a traditional listing and it is imperative that your Realtor know the difference. If your Realtor is not aware of the differences, they could not only cause you to lose the property, but also cost you money in the process. Let m...

A question I seem to get quite a bit these days from my clients is " What is the difference between short sales and REO's?" I then , usually, go into a whole explanation of the pro's and con's of each, and end up telling them that REO's are superior in every way. I have a couple of dealings over ...