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reno reos: Why block the view? - 09/07/10 02:16 PM
I just saw this gorgeous house on the golf course. Why do people plan trees and bushes to block the view? Take the bush and move it over 20 feet and add $50,000 to the price. It is an REO and this bank will not spend any money. Anybody want an easy flip?
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reno reos: Local REO agent meetings - 01/30/10 12:20 PM
I have been thinking of organizing a local REO agent meeting. Get 10-20 local REO agents together for lunch or dinner every couple of months. We can talk about things that would help each other. "I use XYZ for changing locks, he charges $100." "I use ABC and he only charges $75." "Who do you use in this area 20 miles east of town?" I would be interested if other areas do this and how it works for them.
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reno reos: REOs and Credit Scores - 09/28/09 10:51 PM
I recently changed insurance companies. As part of the process they ran my credit score. It came back lower than I expected. In the notes section it said that I had applied for too many credit accounts recently. This surprised me since I have not applied for any new credit in a long time. Then it came to me. Every REO gas, electric, water, trash company is a new credit account. Every listing has been 3-4 new credit accounts.
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reno reos: Do you ever read the comments after you write them? - 08/30/09 01:04 PM
I just saw this in the comments section of a property.
"No financing available. Cash only. Purchase this property for as little as 3% down. This property is approved for Special bank owner mortgage and Renovation Mortgage financing."
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reno reos: Unprofitable homes - Do you take all REO listings? - 07/05/09 01:18 PM
Do you take all REO listings? That is what I have done and I think it is hurting my business. My recently closed on a condo for $45,000. 2% commission. My broker took his share and my partner and I split the rest. This condo needed painting, new carpet, etc. We haven't been reimbursed for our expenses yet, over $4,000. This company uses a title company from the other side of the state and doesn't know local rules, extra work for us. I estimate we have 40-50 hours of work on this deal.
I have 2 more of these in escrow and company … (8 comments)
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reno reos: How are banks pricing REOs? - 01/06/08 11:04 AM
These are 2300 sq ft homes. They are about 5-6 years old. At the top of the market they sold for $300,000-320,000. They are currently being sold for $250,000 - $270,000. A couple of these homes are REOs. The banks have started them at $250,000. A couple of weeks later they are $240,000. Next comes $230,000 and then $220,000. I curious as to how the banks are pricing homes in other areas.
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Matt Kofsky
Reno,
NV
More about me…
Transaction Realty 500 Reno, Nv.
Address: 6121 Lakeside Dr, Suite 101, Reno, Nv, 89521
Cell Phone: (775) 240-4663
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