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asset manager: Why Does the Law Care What Escrow Company I Use...and Does it Really Matter? - 11/17/09 12:16 AM
I just received an email from ReaLegal®, brought to me by the California Association of REALTORS® that an announcement of a form revision.This post really did start off as a simple review of the form and changes that are now in effect. Read the whole blog and find out that it is much more than that...The REO Advisory (CAR form REO) has been updated to include the notice that Buyers of REO properties in the State of California (which include the Hemet - San Jacinto Valley, CA by default) that they are not required to purchase escrow services or title insurance … (8 comments)
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asset manager: REO LISTING AGENT OFFERS INSIDE SCOOP ON "HOW TO WRITE AN OFFER FOR A HEMET - SAN JACINTO CA BANK OWNED HOME FOR SALE" - 09/20/09 11:42 AM
Let me start with full disclosure and identify myself as a listing agent that is in his third year of working exclusively with banks to list, market and sell their REO inventory of bank owned homes. My San Jacinto, CA office is located on the border of Hemet and San Jacinto, next to Starbucks at the intersection of Esplanade and Sanderson. I am a local area expert when it comes to the Hemet - San Jacinto Valley and the surrounding communities of the South West Riverside County in the Inland Empire region of Southern California.As an REO Listing agent I have … (4 comments)
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asset manager: Do Buyers Think They are Getting Slick? - 09/20/09 02:37 AM
Real Estate Sales is just as complex as the markets we serve. As the market evolves so do the strategies of agents trying to get their next deal into escrow. This is a tale of what is going on in the Hemet - San Jacinto CA Valley and what one REO listing agent is doing to try and stop the process before it ever gets out of control.I realize that first time buyers are frustrated by ‘the system' and that they want to take advantage of the current real estate market while they still can. Many fear that the market will … (116 comments)
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asset manager: BPO - A Question Answered - 11/29/08 10:17 PM
My last blog post, 500 BPO's and I'm Still Learning, was actually meant for the REO GROUP on LinkedIn that I administer - unfortunatley LinkedIn only allowes 2000 characters per 'Discussion' post, so I posted the entire article here on my ActiveRain Blog.(if you would like to join the REO GROUP at the LinkedIn Social Networking site, just visit the link and send me a request, throough the LinkedIn system. It would be nice if you let me know how you found the group.)
I received a rather lengthy reply from a out-of-state investor that I have worked with in the … (6 comments)
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asset manager: After 500 BPO's - I'm Still Learning - 11/27/08 03:48 PM
I first became involved in the Default Industry just after Thanksgiving 2006, in an effort to find a way to supplement my income from home, as I was becoming more homebound in caring for a sick wife suffering with cancer.
Much of what I learned was from Asset Managers who I think were learning about this industry right along with me. Together we grew and adjusted to meet the needs of our common clients - whether they be Wall Street Investors looking to purchase a portfolio of loans or large loan servicers pricing REO listings for quick liquidation...and many other reasons … (19 comments)
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asset manager: REO – Agent Training and Marketing –What’s the Difference? - 09/21/08 02:05 PM
There is of course a huge difference between the traditional sale of a home compared to the sale of a home that has gone through the foreclosure process and is now owned by a bank / investor.
EMOTION To sum it up in one word it would have to be emotion. That’s right the traditional homeowner who wants to sell their home is emotionally attached to it. They know of the blood, sweat and tears that went into making it the home it is today and they want to be compensated for their efforts.
The traditional real estate transaction is … (7 comments)
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asset manager: REO – Agent Training and Marketing – Who’s Who? - 09/21/08 12:30 PM
The REO Agent is the player on the front line – the one who comes in direct contact with the public and other real estate agents representing buyers of the REO properties that the listing agent has listed in the MLS and is marketing for sale. The question is who does this agent work for?
The REO Agent is just that – an agent which means he or she works for a principal. So who is the principal and what role does the REO Agent actually play in the disposition of the property.
THE OWNER
First, the reader … (2 comments)
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asset manager: How to Buy a Hemet, CA REO Property - 05/04/08 06:16 PM
About the Author: John Occhi REO REALTOR®, successfully started an REO Team in Hemet, CA that quickly expanded to 3 agents and 2 admin members with over 50 REO properties under his direct control. He was able to keep approximately 20% of his assigned inventory in escrow at any given time and another 20% entering the pipeline with properties in the pre-marketing phase of the business. Today John has been sought out to assist one of the largest franchises in America to expand their REO operations into the Inland Empire.
The CrestREO REO Home Buyer Protection Program CrestREO has REO sales … (4 comments)
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asset manager: REO – Secure the Property - 03/18/08 11:26 AM
When a REO property is assigned to The REO Team, in Hemet CA and The REO Team has determined that the REO property is vacant it must be immediately secured to prevent unauthorized entry and trespassing by either the former occupant or anyone else who may want to occupy the property, for any reason. Step 1: Rekey All Exterior Doors It is important that all doors are re-keyed. Depending on the Bank or Asset Manager, we may be instructed to use a certain key code. If not, it is best to have your own unique code for all of your assigned … (6 comments)
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asset manager: I Don’t Get It? The Bank Forecloses on Their Home and then Pays Them to Move…or Why Cash For Keys - 03/15/08 01:59 PM
I Don’t Get It? The Bank Forecloses on Their Home and then Pays Them to Move…or Why Cash For Keys It should be more than obvious, by the time an REO property is assigned to a local Real Estate Agent, that the bank wants’ the property back so they can liquidate the real estate and minimize their losses. Just figure it out…the previous homeowner went at least 3 months without making a mortgage payment prior to the foreclosure process and then another 4 months for the California foreclosure process to weave through the process. Many times there are even additional months … (13 comments)
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asset manager: OK, I have an REO Listing…Now What; Or What is an Occupancy Check? - 03/15/08 02:05 AM
OK, I have an REO Listing…Now What; Or What is an Occupancy Check? I can remember the thrill I get every time I receive a text message on my cell phone that I have been assigned a new REO listing. It really is exciting, and yet unlike any other listing you have ever received in your real estate career, up to this point.
First thing going through your head is what kind of property is it? I mean is it a 900 square foot senior bungalow built 50 years ago in the center of Hemet or is it one of the … (13 comments)
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asset manager: REO - Start With a Simple BPO and the Basic Tools of the Trade - 03/14/08 10:13 PM
REO - Start With a Simple BPO and the Basic Tools of the Trade
This series of articles is based on my personal experience as a Hemet REALTOR® who now specializes in listing and selling REO property for banks and Asset Managers throughout South West Riverside County and The Pass Area of The Inland Empire area in Southern California. I know there are numerous paths to REO success – as in anything in life. Perhaps my path was the hard way, I don’t know, but it worked for me. What I am talking about today is performing BPO’s for various lenders … (18 comments)
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asset manager: How I Got To List REO's...or No, Not Another Free BPO! - 03/14/08 09:38 AM
My business today is focused on the REO market and working directly with banks and Asset Managers – taking the REO listings and selling them in our area. What I would like to do here is answer the question of what does it take to break into this business, as I am asked constantly by agents, not only here in Hemet, CA…but Southern California and across the country as well.
First, I should point out that to be a successful REO Listing agent, do not expect this to be a slam dunk walk-in-the-park listing arrangement. It is very expensive and very … (59 comments)
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John Occhi, ePRO, Temecula - Murrieta CA Real Estate, 951-443-6259
Murrieta,
CA
More about me…
Exit Twin Advantage Realty
Address: 39755 Murrieta Hot Springs Rd., Suite G-110, Murrieta, CA, 92563
Cell Phone: (951) 443-6259
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