Amber's Blog

There's something new in Ozark real estate.....

Amber Bourland (Ozarks' Independent Realty) — Sun, 08 Jun 2008 21:58:22 -0500

ME!!!

Okay, I am not new to real estate. I have been doing this for 5 years and specializing in REO (foreclosures) for over 3. What IS new is my company, Ozarks' Independent Realty, out of West Plains, Missouri.

Opening my own brokerage has been a dream of mine since before I started selling real estate. That is why I got my Broker/Salesperson license just a few months after my Salesperson's license, so I would be ready. And while I worked for a good broker for 5+ years and learned a lot, this was just the right time to get out on my own. Believe me, it took a leap of faith, but here I am!

I chose the name "Ozarks' Independent" to reflect my belief that I can better work for each client if I am not tied down to corporate or franchise rules. Pressure to make "quota" leads to that "anything to make a sale" attitude, and not to trying to meet the needs of each individual client. I believe every buyer and seller are different and have a unique situation, and the best way to work for one person may not be helpful at all to another. I believe a marketing plan shouldn't be determined by someone who doesn't even know the area we are in, or what gets people's attention here in the Ozarks. And, above all, I believe that a seller should profit more from the sale of their property than I do. Charging an exorbitantly high commission and locking sellers into a year-long contract does not make you any better at your job than a company that charges a more realistic, negotiated commission.

I also liked having "Independent" in my company's name because I believe that the spirit of independence and the ability to take care of ourselves is one of the greatest things about the Ozarks, and probably always will be. This area tends to attract those of us who don't mind hard work, who aren't afraid to be different, and really don't care whether anyone else likes it or not. We do the best we can with what we have, and we keep on going when others tell us we can't make it.

I will continue to specialize in selling bank-owned and investment properties, but am also starting to handle more owner-occupied residential properties, as well. I hope to start recruiting soon,and to build up a team of agents dedicated to doing the right thing, even when that is not the most profitable thing. Too many agents want to make a sale, no matter what, but they will not be working for me!

If you are looking to buy or sell real estate in the Missouri Ozarks, feel free to call or email and see if I can assist you.

Saying goodbye to a good friend...

Amber Bourland (Ozarks' Independent Realty) — Fri, 09 May 2008 22:22:34 -0500

When I was pregnant with my youngest daughter and on the way to a prenatal check-up, we saw a little golden fluff-ball by the side of the highway and drove right on past. Less than a quarter mile up the road, both my husband and I said, we needed to go get that puppy away from the road, so we turned around and did just that. the pup was a Golden retriever/chow mix with gold fur and a purple tongue. She was also mangy, starving, and terrified of people. but she adored our 2 year old, who prmptly called her a "hits hiku" (hitch hiker), and that quickly got shortened to Haiku.

We spent more money getting that little pup back to health than we have ever spent on a dog, and she became as much a part of the family as the kids (well, close to that). She was protective over our girls, loving, and eager to please. I think she always felt a sense of gratitude for our having taken her in and giving her a home. When she was 4, she started having seizures. the vet said that was no big deal. When she was 6 she was diagnosed with right-sided heart failure. When she was 8, she had a stroke and we thought we were going to lose her right before Christmas. Not wanting the girls to grieve at Christmas, we got another puppy and brought him home. But the moment Haiku saw him eating from her bowl, her will to live returned. She got up for the first time in days and staggered, falling several times, to her bowl and growled the puppy away, then she laid down and started eating. jealousy can be a great motivator, I guess!

Her seizures continued, especially if she got upset (if we scolded her, it would trigger one) or if she exerted herself too much. yet she always accompanied us on our evening walks. She was our early warning system for tornadoes, too. If there was a storm and she started whining and wanting inside, we knew a tornado was on the ground somewhere. It might be 20 miles away, but she always knew and let us know. A few of her pups were bought by a trainer who taught them to detect seizures and help people with epilepsy. It seems that the dogs who can best sense an oncoming seizure is the offspring of a dog with seizures...

This past Sunday evening, she wasn't doing well. She wouldn't get up and walk, so we carried her out of the yard to a shady place and brought her food and water. she drank, but wouldn't eat. Monday, was more of the same, but somehow she had wandered across the street to lay in the field. But that night, she wouldn't even drink. She didn't act as though she was in pain, but just like she wanted to be left alone. I told the kids that I thought she was ready to leave us. But they made me promise to take her to the vet in the morning, if she was still the same....

I didn;t have to honor my promise. Morning found her laying under her favorite tree, dead... It's been hard. She was part of our family for 11 years, and my girls don't remember a time without her. I can't seem to break the habit of putting food in her bowl, and the other dogs won't eat from her bowl. I think it will be a long time before the habit of taking care of her goes away, and longer still before the missing her does...

Need advice on going out on my own...

Amber Bourland (Ozarks' Independent Realty) — Mon, 10 Mar 2008 17:34:24 -0500

Well, after 5 years working for my broker, I think I am ready to make the next step- opening my own office. I have been a licensed broker over 4 years now, primarily sell foreclosures, and have developed a decent reputation. I am nowhere near a top producer in my market, and that's okay with me. I just want to support my family. I am thinking of converting a room to a home office, for at least the summer so I can be home with the kids and the garden, and save some money while I am strating up.

I would really appreciate any advice from those of you who have gome this route. Did you have problems getting people to recognize your new office name? Any special marketing tips? Any major pros or cons to thehome office thing? Any insurance snags with working from home? Would you do it differently if you had to start all over? has it been successful for you? Any advice would be appreciated!

Thanks, in advance, for the help!

Bad dog! A first for me...

Amber Bourland (Ozarks' Independent Realty) — Sat, 08 Mar 2008 09:32:43 -0600

I love dogs. Dogs love me. Or, at least, I used to think they did...

I sell foreclosures, and a lot of times that puts me in situations I would normally avoid. Having to knock on the door of bank-owned homes that are still occupied, and try to convince the tenants or former owners living there that the best thing for them is to accept the money the bank is offering them to get moved out... Well, that isn't usually easy. Most people know the house is lost and they have to move, and are thrilled that there will be a little money coming to help them start over. Some, especially if they are renting, have no clue and get very angry. Understandably so, but hey, don't kill the messenger.

A few weeks ago, I had to deliver the Cash-for-Keys paperwork to one of my new listings. School was out, due to snow, so 2 of my kids were with me, and as I pulled into the subdivision, one said, "Look at that dog, Mom!" I glanced over and saw a beautiful, brindled Pit-Bull mix walking along the road. He looked part German Shepherd but there was no hiding the characteristic head/jaw of a Pit Bull. It didn't really bother me. After all, dogs like me and I like them.

So I pull up in front of my new listing, tell the kids to stay in the car, don't kill each other, I'll be right back, and I get out. Now this house has a long covered entryway, about 3 feet wide and 15 feet long, leading to the front door. Lots of boxes are already packed and stacked along the corridor, and lots of other stuff is piled up, as well. Essentially, there is a space about 2 feet wide all the way up. I ring the bell and the door opens immediately to a young lady. We talk a moment, I give her the paperwork and just start to explain it, when I hear a growl behind me. The lady yells "Tiger, no!" but then I feel the weight of the dog hit me in the back and I fall against the boxes and the wall. She calls Tiger and he walks past me to the door. I recognized the Pit Bull mix we had seen a few moments before as I righted myself, slightly shaken.

Before she could even get the whole "I'm sorry" out of her mouth, Tiger turned toward me, met my eyes, and jumped at my face. I barely had time to raise my arm over my head and neck and turn away, presenting him with my back, before he was on me again. I crashed into the junk again, into the wall, and started to fall. All I could think was that I hoped my kids were not able to see what was happening.

But then he was off me as the young woman stepped out, grabbed him by the collar and dragged him inside, closing the door. She was very apologetic, I was shaken and later, bruised, where I had fallen into the wall and the boxes, but except for a small scratch on the back of my neck, was otherwise unharmed by the dog. I count myself very blessed! With the well-known strength and tenacity of the Pit Bull, it could have gone a LOT differently...

I still love dogs. But I won't assume anymore that they ALL love me. I will have to remember to exercise a little more caution when in unfamiliar territory- especially when there are dogs who consider it their territory. My husband said he will be getting me some kind of pepper spray to keep on me, though I am not sure I like that idea very much. And my kids? They saw nothing. They were too busy trying to kill each other in the car!

Life Under the Blankets

Amber Bourland (Ozarks' Independent Realty) — Mon, 03 Mar 2008 20:35:25 -0600

I am from a not-happy place.

Tears in the night and harsh words

were my lullabyes

as I huddled under blankets dark,

close, tight against my face.

I am wrapped in them,

trapped-

I can barely breathe

and can never leave their safety again.

Keep the world out-

let me disappear

as I lie here with tears in my eyes.

Sleep is the only thing that knows

my hiding place.

Come to me, Sleep,

but let me stay in this warm embrace-

the only hug, only warmth,

only love

that I can find

in this very not-happy place.

By Amber Bourland

The Importance of Accurate valuations Part 2: What's Wrong With Agents Getting Together and Submitting the Same Values???

Amber Bourland (Ozarks' Independent Realty) — Thu, 28 Feb 2008 13:59:53 -0600

I am about to discuss one of my pet peeves. I don't know about agents in other areas, but this happens a lot around here. I wish more Asset Managers would be aware of this going on and find more honest, conscientious agents to do their BPO and REO work...

"Hi there! I have an order to do an interior BPO on your listing at....." Great! The bank is moving forward and we are that much closer to getting this foreclosed property on the market and sold for them! I have already submitted my BPO, in most cases, and now the bank has hired another agent (or two) to perform what they refer to as "2nd Opinion BPOs." Some banks get full appraisals, but most rely on Broker's Price Opinions to set a list price for their properties. One of the big concerns for the agent doing the 2nd opinion, is property access. It is very important for the listing agent to make sure there is a lockbox on the property as soon as possible so other agents can get inside and do their job, which helps get the property listed more quickly. Usually the 2nd opinion agents call to let you know, but I have had some who didn't extend me that courtesy. The bank had sent them the lockbox code, they went it and did their inspection and I never knew. Well, sometimes I would find the lockbox left on the code, doors unlocked, or personal property remaining that had been gone through or taken, and had to wonder who had been there, but that is a whole different subject.... In short, listing agents, cooperate with the agents doing the 2nd opinions, if you want the house to ever get to market!

"Is there anything I should know about the house? " This is a valid question that I get asked a lot, and I ask it when I am the second-opinion agent. It does NOT mean the other agent isn't willing to do their work, it means they realize they cannot see it all in one inspection. Ralistically, the listing agent has probably been inside the house several times and has a good idea of any problems that would impact the value. Things like stolen plumbing lines, water in the basement when it rains, structural deficiencies. This IS the time to tell the other agent to use the side door because the front one was falling off and the property preservation people nailed it shut. This IS the time to tell them to use flea spray before they go inside. This is definately the time to tell them about the soft spots in the floor so they don't get hurt. These are things that are not only for their safety, but also can impact the value. if you have noticed some outlets that appear to be scorched, tell them. If your research discovered the house is actually a mobile home that was built around, tell them. These are things that might not be seen during one inspection, but which will affect the price a property sells for.

"So, where do you want me to bring it in?" This is the question that really upsets me. THIS is a sign that the agent either doesn't know what they are doing, doesn't understand the importance of their report to the bank, or is just plain lazy. My guess is that most just don't realize how important their opinion is. So what do I say when asked that question now? I tell them "wherever the comps you find indicate it is likely to sell." That is what a BPO is about; what price this property likely to sell for, in a specific time-frame, as requested by the bank, the client. You do remember and keep in mind who your client is, don't you? You understand the concepts of due diligence and confidentiality? If not, you probably need to go back to real estate school, or find a new career. When I told one agent "You know that I can't tell you that! That information is confidential." she replied, "Well the rest of us all work together on these. We ALL look better when our numbers come in real close." Do we? I don't think so! How likely is it for 2-3 people to have matching opinions on any subject you poll them about? How likely are they, when asked to justify their opinions (provide comps and adjustments), will they all have the same reasoning, or worse, different reasoning but the same conclusions? It is highly unlikely! So where do I want you to bring it in? Wherever your comps lead you to believe it can be sold, in this market, in the time specified by the client. Don't guess, don't pull comps and forget to make adjustments, don't try to buy the listing by pricing it higher than you think I did. Be realistic.

Asset Managers do keep track of these things, you know! Okay, maybe not ALL of them, but many keep stats on the values an agent brings in, and the eventual sales price. If your numbers always come in much higher or lower than where a property ends up selling, you aren't likely to get listings or much more BPO work. If your reports are complete and the values close, they see you're doing a good job and are likely to keep using your services. I had one asset manager tell me, when I asked about the 2 second opinions done for one of my listings, that they thought it was odd that both agents came in within $50, yet had entirely different comps and had adjustments that were not uniform. They requested another opinion, which came in closer to mine, they listed at my value and sold the house in 30 days. The other 2 opinions? The house would still be sitting there, unsold.

Why do they need my opinion, anyway? Because they are not from your market. They do not see what has sold or what is on the market first-hand. They have to depend on agents, so-called "professionals," to tell them what the market is doing in their area. The rely on your experience and knowledge of the market, current trends, available comps, and understanding of what buyers want and what financing is available there. They need to know how best to get their properties sold. This doesn't mean they want to give them away- they are in business to make money and need to feed their children, too. But they make nothing if the property won't sell. They could rely only on their listing agent's opinion. Obviously they trust it enough to have the agent represent them. But often 2 opinions are better than one. Everyone has a slightly different perspective on the market and see trends differently, based on the people they deal with. The banks need that information to help them see all the factors that may influence the sales price and set a more realistic place to list their properties.

If you do not have enough confidence in your ability to provide a good BPO, don't do them. If you think a "2nd opinion BPO" should merely be the listing agent's opinion with your name on it, don't do them. If you don't think your opinion truly is important, then you have no business providing it to anyone. If you are not willing to do your own research and work on a BPO, then you need to refuse the order and let the bank find someone who will. If you are interested in buying the property or know someone who is, don't bring in the value low hoping for a bargain, turn down the order so the bank can get an objective opinion. Given the current trend, there will be many more bank-owned properties coming on the market this year, and the banks need accurate, high-quality BPOs in order to price them competitively. Prepair your 2nd opinion BPOs as thoroughly as I hope you do for the properties you list. Either way, the bank is your client and deserves your best work.

The Importance of Accurate Valuations, part 1, what are BPOs used for, anyway?

Amber Bourland (Ozarks' Independent Realty) — Fri, 22 Feb 2008 08:27:52 -0600

I primarily sell REO (Real Estate Owned by lenders, usually through the foreclosure process). A huge part of selling foreclosures lies in performing BPOs (Broker's Price Opinions), which are about halfway between a CMA and an appraisal.

If I value it, I will list it, right? Many agents who start doing BPOs think that every single one is getting ready to be foreclosed on, and they hope they will get the listing from the bank when it does. But the truth is, most BPOs are NOT for foreclosures or pre-foreclosures. Some of the non-foreclosure reasons a bank requests a BPO are as simple as they are getting ready to buy the note from another lender and need to ensure themselves the value is there, or the homeowner has requested a PMI drop and they need to see if there is 20% equity in the home, which requires a current valuation. I have even seen requests come from lenders after big storms, just to verify the condition of the home and whether any damage was sustained that needs to be repaired to preserve their investment. These BPOs are not going to turn into a listing within the next few months, but they are important to the lenders just the same.

To foreclose, or not to foreclose? That is the question! Pre-foreclosure BPOs are ordered when a borrower is in default on a loan, usually 2 or more months behind. These types of orders are extremely important because they may influence a lender to either try to work it out with the borrower, or to foreclose on them. If a BPO value comes in considerably lower than what is owed against the property, a lender is far more likely to try to keep that borrower in the home through loan modification, locking rates, or other means. They know they are not likely to make as much money by foreclosing and trying to resell it at current market value. But if the property has really appreciated and the bank is likely to come out ahead by taking it back and reselling, then the borrower probably won't be offered the same solutions to be able to keep the home. So if you are performing BPOs, you need to realize that the figures you provide to the bank may be a factor in this serious decision.

Buying the listing: Okay, I know many agents have not had the good fortune I did, to have a broker who is also an appraiser. Many were taught by their brokers or trainers to always bring in a CMA higher than you expect it to sell. The reason for this, in many cases with owner-occupant or investor-owned homes, is that the sellers are not truly knowledgable about real estate and will often list with whichever agent tells them they can sell the house for more. One agent told me to price a home 30-40% above what you think it will sell for, for "negotiating room." After all, you can always lower the price. Well, That may work with some sellers, though they aren't going to be happy for being misled. But it probably won't work with a bank. Asset managers aren't usually so gullible! They deal with too many properties to want to waste time, plus, it looks bad to their clients when the property ends up not selling close to the list price. Sure, there are vagaries in every market that cause even a properly-priced property to sit too long and need a reduced price, but overall, lenders need to know what price the property will sell for in a reasonable period of time.

What is reasonable? Properties in your market may average 180 days before selling, so to you, that is reasonable. However, banks have to pay every month the house sits unsold. If you had expenses for upkeep, management, taxes and HOA dues, etc, to keep paying for each property, don't you think you would want it sold more quickly than the area average? Of course you would! That is why most BPO forms ask for a value for 30 days on market, 90 days on market, and full area market time. They also need to know, realistically, what any needed repairs would cost and how much more they can sell the house for if repaired. They don't ask for you to guess what it will bring, they want you to actually derive an opinion based on comps, experience and factors unique to your local market. They need you to have a basic understanding of accurate valuations including adjustments, and repair costs in your area. They need you to have enough common-sense that, if you are providing an opinion on a bank-owned property, that you actually understand something about the sub-market and demands of dealing with repos.

In short, there is a LOT of responsibility in doing BPOs. Your BPO may make the difference between a family keeping their home or it going to the courthouse steps. It may make the difference between a bank losing $5,000 on a property, or losing $20,000. It may mean the borrowers get to drop their PMI and save some money every month. If you were in a situation where a value was needed on your home, wouldn't you want the agent to do a complete and accurate job in valuing it? So make sure you use the same care, diligence and responsibility in performing every BPO you do that you would want another agent to exercise when doing a BPO on your property.

And if you don't see the need in doing a thorough BPO, in taking time and care to get it right, and in taking seriously the reponsibility the client has placed on you to value a property properly, do yourself, your client, and the economy a favor and don't try to do BPOs!

Sometimes, this business hurts...

Amber Bourland (Ozarks' Independent Realty) — Wed, 02 Jan 2008 13:57:47 -0600

I was at the courthouse steps Monday morning, watching as one of the first homes I ever sold was foreclosed. This was the only one we have sold that has "gone bad," and I didn't really like it. But I guess I had better toughen-up, because I have a feeling a lot more will be coming.

The family who bought this home had lost another home to foreclosure years ago. They spent some time working on credit and were approved fora decent loan and were referrred to me. The first house I showed them, they fell in-love with, and made an offer. It was a HUD-owned home, so it took a little back-and-forth, but they bought it at a very good price, and for about $20,000 less than they were approved by their lender. It was a good deal for them and their 5 kids. 9 months to the day after closing, baby 6 arrived.

About a year later, I get a call, asking me to sell their home, because they were going to lose it. They had refinanced to add-on so each child could have their own room, and made some improvements, and were now falling behind. I was at the foreclosure sale that time, which appeared to go through, but they had filed bankruptcy the day before to get it stopped. Apparently they refinanced twice more in the past two years, to the point of being at nearly 12% interest and owing more than the property is worth. Now, they have lost another home, and I feel terrible about it. This will be the third time this house has been foreclosed on, as well...

I don't feel guilty. I helped them get a good property at a price that they could manage, and should have been able to raise their children in. But they made some really poor decisions and just semed to keep digging the hole deeper, until there was no way to climb out. Don't get me wrong- I would love to be able to afford a home with a separate room for each kid, and we do plan on adding on, but it won't happen if it will put us in danger of losing our home. I guess I just don't see how someone can lose one home, struggle to be able to buy another, then turn around and make the same mistakes again and again until they lose the new home, too.

Yeah, this hurts. What hurts the most is knowing that their children will, once again, have to pack their things and move into another home. I am willing to bet the next one won't have 7 bedrooms....

Do you want to start selling foreclosed properties? Here's how!

Amber Bourland (Ozarks' Independent Realty) — Fri, 30 Nov 2007 14:53:33 -0600

I list and sell foreclosures. Not a glamorous job, by any means. All you have to do is read some of the posts and look at some of the photos in the REO groups here, and you will get an idea what I am talking about. When my "emergency kit" that travels everywhere I do includes such things as bug repellent to try to keep the fleas off, Vick's Vaporub to put under my nose so as not to smell my newest listing, disposable rubber gloves because I'd really rather not touch anything, and a complete change of clothes in case all of the above fail, it gives you an indication of how messy my job can get. Really. I am not making this up. Yet nearly everyday I get emails or private contacts from agents on AR and other forums I belong to asking the same questions.

1)"How do I get started selling foreclosures?"

2)"Can you give me a list of contacts at banks so I can start selling their properties?"

3) "Can you pass on my name to your clients and put a good word in for me?" and, one of my favorites,

4) "How much money do you make selling foreclosures?"

Now I know there are a lot of agents out there afraid of the slowing market, afraid they won't be making many (if any) sales soon, not knowing how they will manage to pay their bills if they don't make a sale. I understand. I know that the news is full of all the doom and gloom of the rising foreclosure rates so any agent who is looking ahead sees the vast potential earnings of selling bank-owned homes. Again, I understand. So, I decided to answer these questions publicly to save you the time of having to contact me and the other REO agents directly. So please, pay attention, learn something, then follow the instructions...

1) To get started, you need to do BPOs. Don't ask what they are; if you don't know, you aren't ready to sell foreclosures. And you need to be able to do them well and accurately. Again, if you can't, you are looking in the wrong direction. To get started doing BPOs, you need: a)experience, b)common-sense, c)clients willing to hire you to provide BPOs to them (notice I said "hire," not "pay," as some companies will hire you but you do the work for free), d) organizational skills, e) a good digital camera, good running vehicle, computer, ability to complete reports and upload photos online, f) experience. I know, I already said "experience," but that is one thing you truly need to have in order to do good BPOs. How do you get clients? By doing research. That doesn't mean emailing every agent who says they do this work and asking for their contact list, it means spending hours online reading everything you can find about the process, educating yourself on good and bad companies, and registering with some to get started. Don't ask how to find this information, because if you cannot figure it out, you're not ready... Everything else in REO work hinges on being able to do a good BPO. Some agents I know did 20+ a month for YEARS before ever getting a listing, others had a listing after 2-3 BPOs, but they are the exception, not the rule.

2) No. I mean, I CAN give you a list, but why would I? Will you give me a list of all your sellers who may need an agent to sell some more properties for them? Would you give me a list of all your well-qualified buyers who are ready to buy right now so I can get their business? Just send me your whole SOI? Of course you wouldn't. Nor will I post a list publicly because there are/will be agents in my area on here, and why would I give such information to my direct competition? Again, if you do your research, you will find plenty of companies to register with. If you aren't willing to spend the time doing that, you aren't able to properly handle REO work.

3) No, I will not pass your name and info on to my clients. I don't know you. All I know is it appears that you are too lazy to do the research, register with companies on your own, and earn your business. To refer you to my clients, I have to really think you know what you are doing, are honest, and won't reflect badly on me. If I don't know you, except through emails asking for information, how can I, in good conscience, put in a good word for you? Now, if you contact me to discuss real estate and REO work in general, and I see that you know what you are doing, have some experience, and can do the job, I have no problem putting in a good word for you...

4) Not enough, and none of your business. Look at it this way, when you sell foreclosures, the banks expect you to pay, up-front, for such things as lock changes, cleaning, utilities, trash-outs, etc. On each property I am usually out at least $1000 for these expenses. Sometimes it takes over 6 months to get the money back. Seriously. So, on a lower priced, nasty property, I may have $3000 out in expenses. The commission is a flat $2000. If another office sells it, they get half, so my office gets $1000. there is probably a referral fee of anywhere from $250-$350 that gets paid to the company who assigned the listing to me. So my office gets, say $650, which is split with my broker. If you then factor in the free BPO I had to do when it got listed, the weekly property inspections, monthly marketing reports, advertising, gas for inspections and showings, etc, I may have cleared $100 on some properties. Yeah, I make more on some properties, or I wouldn't be doing this, but the fact remains that may be all you get on some REO sales. If you're not willing to work for that, you don't need to get all excited about starting to list foreclosures. And because all the agents who are starting to look into doing foreclosure work are going to be competing with me and you, the pie gets sliced even thinner as far as how many listings you get assigned to you. My belief is, if you have not been an established REO broker for at least 2 years, you probably aren't going to get enough business from this point to keep yourself afloat before the market shifts again and foreclosure rates drop. Is it worth it? Sometimes yes, sometimes no. If I weren't already an REO broker would I be trying to get into this niche? Hell no! Not now when the market is full of agents trying to get started...

I don't mean to upset, anger, or otherwise dash anyone's hopes of becoming wealthy selling foreclosures. I am just calling it as I see it, so take it or leave it.

And to all the other established REO agents out there, please add anything I have missed...

Calling Ted Nugent fans, or anyone who wants to know about Cat Scratch fever...

Amber Bourland (Ozarks' Independent Realty) — Sat, 10 Nov 2007 19:18:51 -0600

Maybe I am showing my age here, but I remember that old song, "Cat Scratch fever." I always thought it an odd title, and never knew that any such illness actually existed. Until last month, that is...

On September 28th, I had BPOs to do. It was afternoon, so I picked up my girls and hit the road. I got the 2 drive-bys done quickly, then headed out to BFE for the interior inspection. What a house! Absolutely beautiful log home. We hung out there for quite awhile so I could get enough pics for the bank. Then, we get into the car, back up, and the car doesn't feel right. I hop out, and see a flat tire. Great. But what is worse is my jack is broken and the donut spare won't come out of my trunk. We walk up the 1/4 mile driveway to the road, in a strange remote location, we say a quick prayer, and head to the neighboring house. the owner was not able to help us, but within a few minutes another neighbor came by, and by the time we jogged down the driveway, he had the car jacked up and was waiting for me to open the trunk. He refused payment and referred to us as his neighbors in Christ. Such a mundane task as changing a tire was a great witness for us!

Then we were on our way to the closest Wal-Mart to have the tire fixed. About halfway there (we're talking 30 miles to the closest one), my 11 year old started complaining about a headache. I gave her a Tylenol. By the time we got there, she said she hurt everywhere. I told her to let the Tylenol start working. During the hour we waited, she became noticeably ill, and her temperature shot up. I bought a thermometer, and her fever was at 103. By the time we finally got out of there and on the way home, I had also bought some Motrin and gave her one of those, as I was always told to leap-frog the 2 drugs for best effect. When we got home, she went straight to bed. She woke up 3 times in the night with her fever spiking and body aches. We assumed it was the flu, so I just treated her fever all weekend, and she slept most of it. I had no idea that this was just the beginning!

Monday, she was still sick, complaining of abdominal pains, shooting pains through her one hip and knee, and that fever that never would get lower than 101. I called in to work and took her to Urgent Care. the nurse practitioner thought it was a virus of some sort and told me to keep her on the meds as I had been, bring her back if she gets worse. Tuesday, she was back there, in worse pain. They thought appendicitus and Xrayed and ran blood work. No elevated white cell count, slightly enlarged liver, no sign of appendicitus, clean UA. The white cells that respond to bacteria were slightly high, so they assumed an infection of some sort was starting and put her on antibiotics. 2 days later, she was still no better, so I took her back. the third practitioner re-ran all the tests and all had the same results. She changed antibiotics and said they couldn't help her anymore, that if she wasn't better or got worse, to take her straight to the ER. Monday evening, I did that. It was a waste of 4 1/2 hours, as their attitude was that since it wasn't a life threatening emergency, we were wasting their time. they did run blood work and another UA, and said it was a virus. I asked if they could tell me what kind of virus causes a high fever for 11 days, and when could we expect to see an improvement. no answers to that. So I took her to a pediatrician the next day. She looked over all the prior labs and tests, said it was absolutely not a virus, and scheduled an abdominal ultrasound for the next day. We missed the appointment.

Later that day, Tuesday, afternoon, we were in the car going to pick up her sister, when she started screaming "it hurts!" The pains in her knee intensified to the point she couldn't stand it, so we picked up her sister, called my husband and our pastor, and headed back to Urgent care. She was not able to walk or move the leg at all. we sat with her for about an hour before that pain passed. then she started having kidney pain at the same unbearable level. This time, there was blood in her urine. The practitionaer, who was the first one to have seen her, called her pediatrician, and they had her admitted to the local hospital, where she spent 2 days getting her ultrasound, IV antibiotics, MRI of her spine (a neurologist found marked weakness and lack of relexes in that one leg) and blood work for a lot of things, including Bartonella, the bacteria that causes Cat Scratch Disease. After 2 days in the hospital, her fever was staying lower, but not gone, so they let her go home with more antibiotics. And we were to wait nearly a week for the test results. After 2 days, her fevers resumed at the high level, so we went back to the pediatrician. this time, it was decided she needed to go the Children's Hospital in St Louis, because they just weren't finding out what was wrong. an appointment was made with an infectious disease specialist. then all the original test results came in. everything was negative, including bartonella and tularemia (rabbit fever), so we were back at square one.

In St Louis, they ran tests for everything from HIV, various cancers, and all the animal borne illnesses, as well as for different parasites and tick fevers. Then they sent her down for a CT scan. Before we left the hospital, the doctors came in and showed us images from the scan- she had many lesions on her liver! I freaked out, but they said it was consistent with cat Scratch fever, which had been the pediatrician's most likely choice, in spite of the negative results. So they changed the antibiotic to one that is more effective with this illness, a double-course of it, and sent us home. Within 2 days, her fever was gone! It was still a few days before she felt well enough to go to school, as the extreme fatigue and body aches continued, but within her first week back, she had caught up on 3 weeks of missed schoolwork. I wish I could catch up on MY work that easily! The lab results finally came back in from St Louis- the test for bartonella was positive, so she did have Cat scratch fever. Turned out the original tests done here had been mistakenly done for a specific, rare type of the illness. the doctor had ordered the test for the more common type, but they did NOT run that one, and that is what she had...We go back to St Louis next week, to have the scan repeated and make sure her liver is healing as it should.

So, here is what I learned. Normally a scratch or bite is involved, and normally it gets infected or gets pimpl-like bumps around it. Normally there are swollen lymph glands. Those things never happened to my daughter. Sudden high fever and onset of body-aches is common, like the flu. Extreme fatigue occurs, appetite decreases (my little girl lost 15 pounds in 3 weeks). It usually takes at least a week for antibodies to build up that can show on blood tests. Normally the white cell count goes through the roof, but that never happened with my daughter, either. Most cats will carry the bacteria at some point in their lives, but they don't show symptoms of any illness. The bacteria can cause damage to liver, kidneys and other organs, occasionally can cause inflammation in the spine/nervous system and then there can be loss of reflexes, weakness and pain in a limb, and very rarely it can be fatal. Unless your hospital has a full lab, any blood test for the illness will probably have to be sent out and it will take several days to come back. It seems like this is a pretty common illness, but it affects people in different ways. In my daughter's case, it was pretty severe, but it couls have been worse...

And if it wasn't for that nagging feeling I had that it was more than a virus and SOMEBODY needed to figure it out, it would have gone on a lot longer and probably caused lasting damage. But I trust those instincts and really kept pushing people until we got to the bottom of it. Lots of support from my pastor's family and church, lots of prayers, and lots of people doing research for me all helped! My daughter is feeling well now, hasn't gained any weight back yet, but I'm sure that will come, in time.

One of the year's biggest regional "holidays" starts today!

Amber Bourland (Ozarks' Independent Realty) — Sat, 10 Nov 2007 08:33:13 -0600

Yep, it is now deer season! Okay, archery season started on October 1st, but today starts firearms season, and this is when it gets really interesting...

I moved from the Chicago area to Thayer, Missouri when I was 15. talk about culture shock! Thayer had about 2000 people then and 67 in my graduating class compared to the 280+ that graduated in my 8th grade class in Illinois. I started school there in January, so it was a long time before my first experience with deer season rolled around. And when it did, I thought there was some sort of contagious illness running rampant, because about half the school was not present. That included most of the boys and a large number of girls. When I asked what was going on and got the answer, I was sickened. to think all those people, all those kids, were running around, trying to kill poor, helpless animals, and got excused absences for it! I wrote a short-short story, from a different perspective, about the horror of shooting a deer, because i was so outraged by it all...

Fast forward to about 4 years later. married, living in Texas with an Army husband, a friend invited us for dinner and cards. Dinner was simple- a huge pot of stew and biscuits. this was the best stew I have ever had, so I asked what was in it. Of course, it was venison. before the night was out, they sent us home with several packages of venison, as her husband had gone to Colorado and had an elk in processing, so they were running out of freezer space. It took awhile for me to try to cook any of the deer meat, but once I did, we were all hooked. I still thought hunting was barbaric, but others who hunted always saw fit to give or sell us some of the extra meat they ended up with. Life was good!

The first time I went hunting, it was one of those desperate times. I had a new baby, money was tight, my husband's job was going down-hill (commission-based), expenses were going uphill. I am sure many of you can understand those times. deer season rolled around, and we were nearly out of food. well, I knew my husband was going to hunt, but, bless his heart, he isn't the best shot around. I knew we NEEDED the food, so i got my license and went with. I am an excellent shot, but when the deer was in my sights, I guess I trembled. I missed, and off she ran. We didn't even see another deer the whole season. It was such a blessing that his grandfather's church saw fit to provide us with 2 small deer!

Now, I hunt regularly. In Missouri, if you own more than 5 contiguous acres, you can get a permit to hunt on your own land for free. If you live out of state, you must own 75 acres in Missouri to get a lfree andowner's permit. So my husband, each of my sons, and myself can each take any deer on our property. Since I recently won a new gun (Savage .243), I am eager to get out there! But my boys beat me to it and are now in my favorite spot, so I will wait and head out there this afternoon, while they are sleeping off the big hunter's lunch I plan on feeding them! Yeah, Mama knows a trick or two...

So, besides the wonderful-tasting, healthy meat, why do I now think it's okay to hunt? Population control. In our family alone, over the last 10 years, there have been 2 deer-caused car accidents adding up to over $5000 in vehicle damage. There have been at least 2 dozen near misses (one of which caused us to slide off the wet road and tear up a tire). People die or get seriously injured from deer-related accidents, or swerving to miss deer fairly regularly around here. Deer, when the population is not controlled, cause a lot of damage to gardens and crops. Deer spread ticks and fleas that may can carry illnesses that humans can contract. As a mother who spent most of October taking care of a very sick child who turned out to have an animal-borne disease, I want that risk as low as possible! And during rutting season, bucks get very territorial and have been known to attack humans who were out walking through the woods. WE own 40 acres and love to hike it- it's bad enough we have to watch out for the local Mountain Lion, I don't want to have to worry about a deer with attitude (and too much testosterone) coming in to attack, as well!

Yes, there are valid reasons to hunt and keep the deer population in check. Yes, I enjoy the meat and there's nothing that can beat a big pot of Hunter's stew when the snow starts falling. I look forward to filling the freezer with venison every year, and if we get enough, we share it with others. We don't hunt just for the "fun" of it, and I cry over every deer we have to process, but in those same tears, I am saying thanks to God for providing for us again...

So, what's the down-side to this regional "holiday?" For the next 10 days, unless someone comes in from another area, the real estate market is dead. I guess that's okay, since I will be out in the woods for a good portion of that time anyway!

One of the year's biggest regional holidays starts today!

Amber Bourland (Ozarks' Independent Realty) — Sat, 10 Nov 2007 08:29:25 -0600

Yep, it is now deer season! Okay, archery season started on October 1st, but today starts firearms season, and this is when it gets really interesting...

One of my favorites...

Amber Bourland (Ozarks' Independent Realty) — Fri, 09 Nov 2007 15:53:00 -0600

Here's a drawing I did of an actor who portrayed Jesus in a tv mini-series. It is now hanging in my church. Ignore the glare from the glass. let me know what you think...

How I got into real estate (still working on the "Why" of it)

Amber Bourland (Ozarks' Independent Realty) — Wed, 07 Nov 2007 16:18:34 -0600

For several years I worked at convenience stores. I loved it. I was energized by the constant activity. Having 300-400 different people in front of me every day was absolutely beautiful. But then again, I like people. I love people! I had the customers who were just passing through who stopped for a bathroom break and felt obligated to buy something. I had the regulars who came in same time every day, bought the same thing every time, such creatures of habit, they often came in with their checks pre-written in the exact amount because they knew exactly what it would cost. Some of those, I still see in public and instantly think $10 gas, 2 Marlboro Lights in a box, and a coke..." I had the lonely people who knew when it was usually slow, and they would come in, hang out, and talk. Often, this type of person has deep problems and needs someone, anyone, that will listen. I considered it a wonderful privilege to be able to do that for them. Then there were the others, those who are rude, snobby, hateful... Most people who started out like that, I would try extra hard to show them respect, friendliness, humanity, and most of them came around and settled into the second or third types. But some people, no matter how hard I tried, stayed rude, snobby, hateful. I took it personally for the longest time, then one day it was revealed to me that the problem wasn't in me, it was in them. For whatever reason, they had a problem being nice, and I learned to just take their money efficiently, dispassionately, and let them go on their way. I loved my job.

But, something kept nagging at me. People would come into the store and start talking about God. Not the preachers, but the passers-through, the regulars, the talkers, even some of the "snobby" ones would just pop off with "Have a blessed day," or "God loves you, Amber." I had strangers telling me they would be praying for me, and a few who actually prayed with me, there in the store. None of the other clerks had similar experiences, so I started wondering why it happened so frequently to me. I was Christian, I prayed, sometimes, I believed.... So I finally broke down and prayed about it. And the answer was that God was trying to get my attention. I bet He does that for a lot of people who just stay too preoccupied to notice. But I noticed, and I wanted to know why. Then little things started happening- thefts from the store, more meth cooks coming in to buy or steal ingredients, the snobby people starting to outnumber the nicer ones... Maybe it had always been like that, but I was noticing it more and more, and not liking it. I felt like there was something else I was supposed to be doing. One day, I prayed, there behind the counter, that if He was leading me to something else, He needed to make it clear, because I'm Polish and just was not "getting" it. A few minutes later the local paper was delivered, early- WAY early, and I opened it to the middle (not typical for me). The first, and only thing that caught my eye was an ad for real estate school, and it felt right. When I got home that night, I talked to my husband, and he said to "go for it." But there was no way we could afford it, and we both knew that. So, Gideon-style, I cast out my fleece. I prayed that, if God's will was for me to get into real estate, I needed the money to come to me by the end of the year (we were in mid December), and I pretty much stopped thinking about it. Until December 31st...

A few years earlier, my husband was in a bad accident and we ended up having to hire a lawyer because the other driver, who turned left in front of my husband's oncoming vehicle, had an insurance company that would not talk with us at all. We had, on December 16th, reached a settlement agreement, and were told the money would be in to our attorney's office in 4-6 weeks. But on December 31st, the deadline I gave God to provide the means for me to attend real estate school, our lawyer called. The money was there! I called my husband and his response was simple, "Praise God! Now call that real estate school and get signed up!" And that was the beginning...

I have questioned, from time-to-time over the past 5 years, why He wants me doing this. I know it wasn't for the money! I have been blessed in making enough, and that will have to do, but I didn't get into this for the money. I have been blessed by some of the people I have met and worked with. I have felt honored that I was chosen to help families in this huge transaction. I have had opportunity to witness to a few, and to pray for many. I have met people who needed help understanding and making decisions, and some didn't like the advice I gave. I have had others that I worked with for over a month call one day and say they looked at a house with another agent the evening before and they bought it. Those things make me question why I stay in this business, why I even bother. Then there are those times when, facing large expenses I couldn'thandle, a buyer walks in, says "I want this property, write a cash offer," and it closes the very day I need the money. God is telling me I am in this business for a reason, His reason, and I don't have to understand- I just have to accept it and trust Him. He has always provided for our needs, He has always given me guidance. When I have bothered to listen...

What an REO agent needs to keep with them at all times

Amber Bourland (Ozarks' Independent Realty) — Wed, 07 Nov 2007 13:54:44 -0600

Okay, a recent new listing caught me unprepared, and I learned a thing or two that I want to share...

First, always expect the worst when you go to enter a property for the first time. If it isn't so bad, you'll be thrilled, but if it is and you're not ready for it...

I carry the following things in my trunk all the time. Feel free to add to the list, if I am missing something...

Bug repellent- spray liberally all over your shoes and pant legs before stepping onto the property. I know some agents who carry big trash bags and put them over their feet/legs before going in. I haven't tried it, but I guess the fleas can't hang on...

Rubber gloves, preferably the kind doctors and nurses wear. Be careful what you touch!

Vick's Vaporub to dab under your nose to help block the smell of some of your more "seasoned" REOs..

List of all emergency contact numbers for the town/county you're in. Keep your cell phone handy!

I take both my digital cameras and extra batteries. I Also make sure I take my car keys in with me and lock the car doors.

Dog snacks. I learned recently that having something to throw down to a starving dog (who has been locked inside for who-knows-how-long after the occupants moved out) really slows them down a bit, then they are a lot more friendly to you, and less likely to see you as food!.

Extra clothes and shoes, and a plastic bag to put the old ones in, should bugs, odors or other "stuff" get on your first outfit.

Flashlight. Tape measure or laser measurer.

A "buddy," if the neighborhood or property appears to be occupied or dangerous in any manner. Some agents I know always carry a gun, as well.

Common sense! If a property looks dangerous, you see something or someone suspicious, or those little alarm bells are ringing in your head, leave! get someone else, preferably a cop, to return with you.

In short, a lot of the things we run into doing foreclosures is irritating and an inconvenience (fleas, filth, terrible smells), but others can be dangerous (rotting floors, starving pit bulls, meth labs). Pay attention and go prepared, and you are less likely to run into something you can't deal with!

Fall in the Ozarks

Amber Bourland (Ozarks' Independent Realty) — Sat, 03 Nov 2007 08:11:42 -0500

Well, it's here! I know fall officially started awhile back, but it has just been the past few days that it has really "felt" like Autumn. Cooler mornings, just enough to make me kick on the furnace to cut the chill, and a little frost on the windshields so I have to start the car a few minutes before leaving to let the windows defrost. But by noon, it is a glorius 60-65 degrees with just enough breeze to send the falling leaves chasing each other in a game of tag... Colors are changing so every hill you top opens up a panoramic view of gold, orange, scarlet, and plenty of pine green.

When I am out of town, all I have to do is roll down my window to hear the distant drone of chainsaws cutting firewood for the colder days ahead, and to smell the wood smoke from a chimney that tells me someone has already had enough of the cold! The air is crisp, the leaves crunch underfoot, the deer and squirrels, foxes and bobcats are getting more active. Believe me, the deer know EXACTLY when firearms season starts, and they all move off my property to the neighbor's vacant land, because they know he's never there to hunt!

I love this time of year! Except for the nagging certainty that winter is chasing close behind, there is always a sense of expectation, of hope, as this year is winding down and I look towards the next. Of course, the holidays are coming up real soon, too, like it or not....

REO etiquette. There WILL be a test!

Amber Bourland (Ozarks' Independent Realty) — Fri, 02 Nov 2007 16:06:22 -0500

I am furious! I just came from my weekly inspection of my local REO listings, and found one unsecured. I mean the lock-box was left on the code, and none of the doors were locked. There have been several other agents showing that property this week, so I will probably never be able to figure out who did it, but here are a few thoughts on how to show another agent's listing, especially if it's REO.

First, even if the MLS says show anytime, no appointment needed, whatever, it's always a good idea to call and let the agent know when you will be there. If nothing else, they should tell you if it is still available or if someone else is showing it so times can be rearranged a bit to avoid the awkwardness of being there when other agents and buyers are there.

Second, if there is a lock-box in place, get the code. Do NOT give the code out to buyers or anyone else. When you open the lock-box, if there is no key, call the listing agent right away and let them know. If there is a key, open the door and then put the key back inside the lock-box, make sure itis closed, and turn the dials or push the reset button, then check and make sure it is not going to pop open.

Third, if there is a sign-in sheet, sign in. That isn't so difficult. If there's not, leave your card on the kitchen counter or some other obvious place. I always write the date and time I was there on the back. If there is some other custom in your area, please follow it.

Fourth, and believe it or not, this happens; do NOT remove anything from the property. I have had stoves, light fixtures, towel racks, etc removed from my foreclosure listings. This is theft and most banks will prosecute. Also, if there are signs saying the property is winterized, don't turn on breakers, close taps, etc. These things are done to protect the property and you can be held liable for damage caused by not following directions.

Fifth, when leaving the property, make sure you turn off any lights or appliances that you turned on. Make sure all doors are locked and garage/outbuilding doors are closed. It takes a few seconds to double-check everything, and if it were your listing, you would want that done.

Last, but not least, if there are any problems noticed- water in basement, door pried open, door unlocked when you got there, vandalism, etc, PLEASE call the listing agent and let them know about it. It is also good to give them some feedback from the buyers. That helps the banks know when to reduce prices, etc.

Folks, it's really a pretty simple thing: imagine this is YOUR listing and that you are responsible for it, then treat it the way you hope other agents would treat your listings. A little common-sense and respect go a long way, especially in an industry where there is so much liability.

How creative are you?

Amber Bourland (Ozarks' Independent Realty) — Fri, 02 Nov 2007 12:43:47 -0500

I just want to let everyone know that I have started a new group (called Artsy-Fartsy) for those of us who may want to share their talents and creativity with each other. I have already seen some samples of work by very talented people in this community, and want to give everyone a chance to display and discuss whatever creative outlet they have.

So whether it is drawing or stained glass, wood work or quilting, writing or music, if you can display it for us to see or hear (don't know how that would work), we would love to see it.

After all, real estate may be what we do, but there is a lot more than that which makes us who we are!

This is a drawing that I did a few years ago. Now let's see what you have to show!

Just keep it appropriate for all ages, please!!!

When people say "I want..."

Amber Bourland (Ozarks' Independent Realty) — Thu, 01 Nov 2007 13:50:10 -0500

I hear it from other agents ALL the time, that "buyers are liars." While I have had my share (or more) of buyers who tell me they want one thing, then buy something different, I just cannot believe that so many intend to be deceptive. I think, from my own experience, that it can be very difficult to clarify exactly what it is we want. We say things like, "Well, I need 3 bedrooms, 2 baths, and a big yard. And I want a big kitchen, lots of storage, and lots of light." Sure, I can find that for you. And I do. I find EXACTLY what you described, within your price range, AND it's in a great school district. So, why did you go out and buy that 2 bedroom, 1 bath house with the eat-in kitchen, small yard, and no extra storage to speak of? Why did you spend more money than you told me you were willing to, to buy the house that was nothing like what you said you wanted?

Could it be that something happened during your house-hunt that made you change your mind about what was important? Could it be that I wasn't paying enough attention and missed some of the unspoken communication? Or did I just not ask the right questions after each showing? Questions like, "Why do want a big yard?" Maybe they have kids who love to run or they will be putting a pool up. Maybe they like to garden. Maybe they just want privacy and don't need a big yard, but one with a privacy fence or shrubbery to keep nosy neighbors from watching everything they do. A big kitchen? Is that because they entertain a lot or have every imaginable gadget, or is it so Mom can keep the kids close and watch them while cooking? If so, she may just need something with a great-room design or that is open to the dining area.

Sometimes it can be a real challenge to get buyers to open-up to us about what they want, and even more so to be able to describe why each feature is important to them. But, if we want to make our customers happy with our service, we have to be able to really listen and ask questions until we have a good understanding, not only of what they want, but also of the reasons behind those wants/needs. We have to take enough time getting to know each buyer as a person so we can go above-and-beyond in our service to them. By doing so, we not only nearly guarantee the sale will be ours, we will also likely be the one who ends up getting referrals and repeat business from the satisfied buyers.

No, buyers aren't liars, they are just like you and I. They want a place they can be comfortable and secure, a place that gives them roots and a sense of stability. They want the agent they choose to listen and understand what they say, and to care enough to find them the right property. Are you the agent who is going to listen, or do they have to go elsewhere to get what they want?

Loss Mitigation: Trying to help people facing foreclosure...

Amber Bourland (Ozarks' Independent Realty) — Wed, 31 Oct 2007 10:50:15 -0500

Banks are, more than ever before, facing huge, sometimes devastating losses from loans they have made that are in default. Foreclosure rates are high all around the country, and it appears that it will continue to get worse for awhile. because of this, many banks are trying to look at options other than just foreclosing and then trying to resell the property.

Enter the Loss Mitigation Consultants, or LMCs. An LMC is a person, usually a licensed real estate agent, who is hired andtrained by a company to try to assist the banks to not have to foreclose. When an LMC is given an assignment, they need to visit the propertyand try to contact the borrower to see what can be done, other than going through the foreclosure process. In some cases, banks will modify the terms of the mortgage so the owner is "caught-up" and they can resume regular payments (this is especially good when circumstances, such as being out of work due to illness or injury, caused a financial hardship that is only temporary). Sometimes banks will lower interest rates or offer fixed rates if the problem was adjusting rates that raised the payment too high for theborrower to make. Sometimes, if the borrower can't or won't agree to a work-out, the bank will allow some extra time for the borrower to get the property listed and try to get it sold, rather than foreclosed. Other times a borrower may agree to give the deed-in-lieu of foreclosure and voluntarily move out.

The LMCs job is NOT to decide which option is the best in any particular situation. Their job is just to meet with the borrowers, try to get specific financial information and an idea of what the borrower s can and want to do, and pass that information on to the bank. An LMC may need to perform a BPO and have access to the property for that purpose, so the bank will have a better idea of what is in their best interests. The ultimate goal is to try to keep from having to foreclose, and most banks using LMCs will try to work with the borrowers however they can.

The biggest obstacle to a bank being able to stop the foreclosure process is usually a lack of communication with the borrower. Often, by the time an LMC would be involved, the borrowers are frustrated and don't realize that they have options. They have probably received many letters and phone calls from their mortgage company, and maybe other creditors, as well. They often don't call back or respond because they are afraid of what they will be told. The most important thing to remember is, if there are finacial difficulties involved, ask the bank what can be worked out. If you can document your hardship, verify income, show that you are interested in trying to work something out, that can help your situation. And, if you are contacted by a Loss Mitigation Consultant, remember that means the bank is not wanting to foreclose, they are wanting to explore all the options. Also remember that the LMC is not wanting to see your home foreclosed, so don't take out your aggravation on them. They are just doing a job, and often it's because they really want to help people. Let them try. You might just be surprised to know that you have options...

Have a creative talent or skill? New group- check it out!

Amber Bourland (Ozarks' Independent Realty) — Tue, 30 Oct 2007 18:51:18 -0500

Hey there! I just wanted to let everyone know about a group I started here on AR, called "Artsy-Fartsy." It is designed for us to have a place to showcase our creativity and talents, whether they are in art, writing, music, crafts... Whatever you do that gives you a creative outlet, I want you to share with the rest of us (as long as it's appropriate for all ages).

After all, there's a LOT more to a person than just what they do for a living!

Stop by and check it out!

Looking for foreclosures? Why not pay some internet site for the info?

Amber Bourland (Ozarks' Independent Realty) — Mon, 29 Oct 2007 15:13:24 -0500

Well, it happened again! I received a call from a buyer looking for a Bargain home. The buyer said she received my name off of a "network" she joined, looking for foreclosures and other Bargain homes. I asked her which property she was wanting information on, and she rattled off the address of a property I had listed- 2 years ago! Actually, it sold in August of 2005, so that tells you how out-of-date this information she had paid for really was, and she was not the first to call about this and other properties that had sold long before... Many are getting their information from the same site as she did, others have found these outdated listings on other sites, but the one thing they all have in common? You have to pay for the information.

What's wrong with that, you might wonder. After all, nobody wants to pay more than they have to for a home, and many people are eager to buy foreclosed properties and try their hand at acheiving the same results they see on shows such as "Flip This House." I understand. I like getting a good deal, too. I REALLY like helping others find good deals and then helping them resell when they have repaired the house. But I DON'T really like to see people get suckered. I don't like to know that there are businesses out there whose sole goal is to make people pay for information that they can get free elsewhere, especially false information. OOPS! I forget- these websites usually have disclaimers that state that they are not responsible for the content that they present, that some or all of the homes may have already been sold, and (the award for the best I have seen was...) that the photos and descriptions of the homes on this site are samples only, and that these homes may or may not actually exist and may or may not actually be for sale at the stated prices. I guess every weasel needs his clause...

So, what is wrong with paying a small fee to get information that might help you find a great bargain? Well, first of all, the information may be innacurate (house has already sold, price may have changed, it may be listed with a different agent) or flat-out fraudulent (homes they show do not exist in the area they say, may not be for sale, and not likely at the prices they show). So not only are you paying a fee for bad information, you are also providing your credit card info to a company that has already shown they cannot be trusted. Not a good idea, from my point of view!

Okay then, how do you find information on foreclosures in a certain area without paying for this service? Simple. Get in touch with an REO broker. REO means Real Estate Owned by banks/lenders, usually through the foreclosure process. Banks usually list these properties with agents experienced in handling foreclosures. If you don't know which agent(s) in your area handles REO, you might want to check a site called REONetwork.com. You can type in a zip code and you will get a list of agents covering that area. Call the agents and see who is willing to work with you and help you find the right property. When you find the right agent, be forthcoming about what you are looking for (bedrooms, baths, house size, price, how much work you are willing to do, etc), and why (you are looking for an affordable home, an investment/rental property, a rehab/resell property). Your agent can then inform you what is on the market NOW that might meet your needs. If the right property isn't available at this time, your agent can keep an eye on the market and call you when something comes on the market. Experienced REO agents also often know what is coming up BEFORE they get put on the MLS.

And what are the benefits of working with a local REO agent? First, the information you get is likely to be more up-to-date. Second, you aren't wasting money or giving credit card info to unreliable companies. Third, odds are, once you find the right property, you will need an agent to write the offer and help you through the process anyway, so why not get that relationship started a little sooner? And fourth, if you keep working with one agent, you will build a beneficial relationship and you will be more likely to be informed of properties first and thereby have the best chance of getting what you are looking for.

So next time you see an ad for foreclosure information, promising homes for pennies on the dollar, and all you need to do is provide your credit card information to get started, remember it's probably too good to be true...

Let's get this started!

Amber Bourland (Ozarks' Independent Realty) — Thu, 25 Oct 2007 22:37:48 -0500

Okay, since I started this group, I better be the one getting it going... My name is Amber, I sell real estate in the Ozarks, and I draw, write, etc.

I have attached a scan of one of my drawings, and am eager to see what other kinds of talents we have in this group...

South-central Missouri

Amber Bourland (Ozarks' Independent Realty) — Thu, 25 Oct 2007 22:01:03 -0500

Hi there! My name is Amber, and I cover several counties in south-central Missouri, in the gorgeous Ozark Mountians. While I specialize in REO (foreclosures) we do have a lot of farms and larger acreages in this area, and I have had a few....

It's always interesting to meet someone to show a rural property and end up having to walk 50+ acres with them, scoping out the hunting areas and types of timber. Most of the acreages I have dealt with have been more suited to hunting, logging and recreation than to farming/ranching, but I do hope to expand this side of my business, and hope to learn something from networking here.

What's the Market doing where You are?

Amber Bourland (Ozarks' Independent Realty) — Thu, 25 Oct 2007 14:13:44 -0500

There is no doubt in anyone's mind that the real estate market is changing. For those of us in this industry, we HAVE to keep an eye on things in our areas or else we'll fall behind as buyers seek out more knowledgeable agents. So, I ask you, What is the market doing in your area right now? Is there typical seasonal slowing, an abundance of foreclosures hitting the market, or going along as usual? Is it a buyers or sellers market? Are there any unusual trends you are seeing?

I believe for us to get a truly accurate picture of what the housing market is doing (and not just the numbers put out by NAR or government authorities, who all have a reason to "spin" things and are therefore not unbiased), we need to hear from the front-lines, from those of us who either survive the vagaries of the market, or who give up and find jobs at Wal-Mart...

In my area, South-central Missouri, it has slowed some. We typically see a slow-down before school starts, then it picks up before winter hits. This year, we just aren't seeing that "rebound" we have always counted on. I have talked to a few buyers who have decided to postpone buying a home until they "are sure what the economy is doing." Sellers have made the decision to either pull their home off the market, or not get it listed yet, due to fears of more economic problems in the near future. As one seller told me, "I can afford my payments on this house, and have equity, but I'm afraid if we buy our dream house now, it will just turn into a nightmare within a few years."

Because the economy in our area has always been a little behind that of most of the nation, we aren't affected by some of the changes as quickly as some areas are. Some of the housing prices have come down a little (less than 5%), and oddly, the average days on market has dropped, too, over what it was a year ago. I sell mainly foreclosures, so that end of the business is starting to pick up. Investors and cash buyers are out in droves just looking for those bargains, and it seems like the banks are starting to lower prices and accept lower offers more quickly than I have seen in the past. All-in-all, from my perspective, there are obvious changes going on, but nothing major and profound here. Yet.

So what's going on in your neck o' the woods???