Green Tip - Gas Log Fireplaces - 06/30/10 11:21 AM
In the past week, I have gone into 2 homes with gas log fireplaces.  One was vacant, one was occupied. It hit 100 degrees 2 days ago.  Both homes had the air conditioning on.  Both fireplaces, the pilot light was lit.  So they were burning gas and heating the house. 
… (1 comments)

Tell me how you got into you situation - 06/28/10 12:44 AM
There seems to be two catagories of opinions here.
# 1 Tell me your situation and I will try to help you.
# 2 Tell me how you got into your situation and I will decide if you are worthy of help.
People in the first catagory help anybody.  People in the second catagory will only help you if you fit into their box.  If you are short selling your house because you got sick that is ok, they will help.  If in their opinion you spent too much money on your vacation 3 years ago, then they will not help … (4 comments)

Where you live and your opinion about defaults. - 06/26/10 10:54 AM
I think that I have noticed a trend on AR.  People from different areas have different opinions based on their market.  The people from the states with the most defaults are less judgmental about the defaults.  People in Nv, Ca, Fl, Az deal with this everyday, sometimes more than once a day. 
Where I live, we are at approximately 80% REOs and short sales.  Our prices have dropped more than 50%. (I showed a house that is listed at $188,500.  It last sold for $436,000.) We have 14% unemployment.   My view point after dealing with lots of people is that I do not care … (3 comments)

They want me to hold an open house for them. - 06/23/10 06:35 PM
I just got a phone call from a REO company.  They only use an agent who is 400 miles away from here.  They wanted me to hold an open house for them.  They told me that I would not get the listing, they have an agent.  I would not get other listings from them, they only use the one agent.  I politely turned them down.  If I need the practice, I have my own listings to do open houses.
… (5 comments)

Difference between REO and short sales prices - 06/11/10 12:43 AM
We were assigned a new REO property.  It was listed Oct - Feb as a short sale for $50,000.   We listed it as an REO the first week of June for $45,000.  9 offers the first week.  Highest and best resulted in a price of $60,000 cash.   Is there really that much of a difference in short sales prices?
… (5 comments)

Somewhere, there is an agent mad at me. - 06/05/10 11:04 AM
I just valued a home listed at $150,000 for $180,000. 
I just did a drive by BPO.  The home is listed for $150,000 as a short sale.  It is 1500 sq ft.  It is tenant occupied.  It took 2 months to go pending. 
I put in a sq ft range of 1200-1800 sq ft.  I went back 6 months in time.  I went out 3 miles trying to justify the listing price.   The lowest price sale comp was $180,000.  One of the rules for this BPO was that the price must be bracketed by the sold comps.  I followed the rules.
The … (7 comments)

BPO rules - 06/04/10 01:02 PM
I am surprised by how many people do not understand the bpo process. You are assigned a bpo. There are rules to follow with the bpo. I have received the following rules for different bpos and many others.
 Use only REO comps. Do not use REO comps. The distance must be within .5 mile from the subject. The distance must be within 1 mile of the subject. The square footage must be within 12% of the subject. The square footage must be within 15% of the subject. The square footage must be within 20% of the comps. The sq footage must … (7 comments)

Would you hire this agent? - 06/03/10 09:19 AM
I ran across these comments in a short sale listing in the MLS.  Today is 06/03/2010.
"This property could be a really nice home for someone.  We have not seen the interior so do not know if it will go FHA.  Seller is working on getting a key this weekend.  Please write offers subject to interior inspection.  We should have a lockbox on the property no later than Monday 3-29-10, but call agent first."
… (12 comments)

 
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Matt Kofsky

Reno, NV

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Transaction Realty 500 Reno, Nv.

Address: 6121 Lakeside Dr, Suite 101, Reno, Nv, 89521

Cell Phone: (775) 240-4663

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