reo: Can't believe that with Memorial day and all I couldn't get your offer accepted Mr. Veteran - 06/01/10 10:47 AM
Your first thought is probably well did you have a good offer to begin with? The answer is YESSSS
guaranteed! Mr. Veteran even agreed to pay for Lender required repairs if necessary, increased his
deposit, agreed to the Bank's limited inspection and appraisal timeframes, and cross qualification, plus
agreed to pay for all of his closing costs to get the Home for his family. The condition of the property on a
scale from 1-10 was a 7 and I saw only one item that could get called by the appraiser and that was the
covered patio that seemed to need replacement. The response I … (1 comments)

reo: WAH WAH WAH!!!! DON'T CRY ABOUT WRITING MULTIPLE OFFERS!!!! - 10/09/09 11:36 AM
Well here's the truth America! Your favourite realtor hasn't been in the real estate business long! To be truthful it's only been about 2 years and a few months...that little time span is enough to tell you that it's been a struggle and I have learned so much in such little time. I recently took a regular sale, yes that's right I didn't stutter a regular seller who can choose to sell his home if the price is right without have a bank tell him what's right or wrong. Well before I took this listing, I was working and still continue … (5 comments)

reo: CH,CH,CHANGES CHANGES!! - 05/12/09 08:47 AM
Without taking much time out of your day I would like to give an update of my local market here in Sunny Southern California. Buyers are off and running especially since prices were slashed last month. We went from $390,000 for a 3 bedroom 2 bath in March to $373,000 in April. With only 50 homes sold in March and 77 being sold in April, I guess you could say that inventory is getting bought up. I would also like to add that I am seeing more regular sales (not distress) and also less bank owned homes. That is not to … (0 comments)

reo: WHAT'S GOING ON??? DID HOME PRICES REALLY DROP??? - 04/22/09 05:01 PM
Turns out prices are dropping! Yes they have definetely dropped..... but sales have drastically increased
take a look for yourself!
 
                                  DOWNEY HOME SALES REPORT FEBRUARY 2009 

 
THINKING OF BUYING? DON'T THINK TOO LONG..... RIGHT NOW YOU KNOW PRICES ARE LOW WHY NOT
BUY WHEN YOU KNOW INSTEAD OF RUSHING TO BUY WHEN YOU DON'T!

(0 comments)

reo: A FEW THINGS SELLERS COULD LEARN FROM BANKS - 04/04/09 05:36 AM
COMPETING SELLERS CAN LEARN QUITE A FEW THINGS FROM BANKS WHEN LISTING IN TODAYS MARKET:
 
BECOME THE LOWEST PRICED COMPARABLE IN A 1/2 MILE RADIUS  
TO ARRIVE AT PRICE DO A COMPARATIVE MARKET ANALYSIS INCLUDING 3 ACTIVES, 3 PENDINGS AND 3 CLOSED FOR THE LAST 3 MONTHS TO A MAXIMUM OF 6 MONTHS  
DO USE BANK OWNED COMPARABLES, DON'T USE SHORT SALES  
SPENDING A BIT OF MONEY ON COSMETICS LIKE PAINTING AND REPLACING THE CARPET CAN WORK WONDERS FOR THE HOME  
LIST LOW SELL HIGH (IN TODAYS MARKET IT TAKES 42 VIEWINGS TO EVERY OFFER)  
(2 comments)

reo: Don't just HOPE, KNOW!!! - 03/03/09 02:04 PM
I will start by saying I consider myself a very positive person, but I will immediately stop hoping and start
knowing. You see I was hoping that the recession would end this year, I was hoping that Obama would save
us, I was hoping that the housing market would recooperate, I was hoping families wouldn't loose their
homes, I was hoping, hoping, hoping. HOPE is a great thing it is described as a belief in a positive outcome
related to events and circumstances in one's life. I say let's stop HOPing and begin knowing! WHAT????
you might ask..... well I know the recession will … (0 comments)

reo: The HEAT around the corner! or (where have all the repo's gone?) - 02/23/09 03:28 PM
I don't mean it's getting hot as in weather here in sunny California, what I mean is the amount of buyers around
the corner when another low priced foreclosure hits the market. It almost felt like I had a sticker on the back of
my car that read: "FOLLOW ME TO A LOW PRICED REPO!"   What point am I trying to make you might ask? Well
contrary to media reports I am going to go ahead and say that in my local market buyers are buying up all the
repos like funnel cake! I mean we've got agents in my … (0 comments)

reo: BASIS FOR WRITING A CORRECT OFFER ON A BANK OWNED PROPERTY! - 01/27/09 03:09 PM
THIS SHOULD HAVE BEEN TITLED : BASIS FOR WRITING  A CORRECT OFFER
First you must understand that banks have decided on the price by having individual brokers give broker price opinions on the asset/property  
You must also understand that brokers giving the bank a price opinion will sometimes give a higher value to get a listing, this is not common when the broker has been doing bank owned for a while. It is seen mostly with new brokers trying to get an REO account  
When the opinion is over priced you will see the listing price drop after a … (3 comments)

reo: MY 2009 PREDICTION OF THE REAL ESTATE MARKET......... - 01/13/09 05:30 PM
Remember this is only a prediction and nothing more, maybe we will look back at this and say ..... boy
was that Benny Chavez guy off, or maybe boy was that Benny Chavez guy on the money! I will mention
 that I have taken plenty of real facts into account when deciding what I would predict would happen so
here it goes:
2009 Will bring double the amount of forclosures than 2008
The amount of forclosures will make some markets drop price by 10%
Interest rates will remain within 5 and 6 % till 2010
Many markets will have a … (2 comments)

reo: R.E.O. explained to the best of my knowledge!!! (Real Estate Owned by a Corporate Entity) - 12/08/08 03:41 PM
Bank Owned properties or R.E.O (real estated owned by a corporate entity) sales are much easier than a
short sale. The only problem with a reo is the conditions of the transaction. In most cases the bank will
sell the property in as-is condition. Depending on the kind of financing you have in place, some lenders
will not close the escrow if the home is not habitable. In the case of the price, the price is usually set low
to attract a lot of attention. We have come up with the conclusion that on average it takes 22 showings to
generate … (1 comments)

reo: AND THE WAVE KEEPS COMING!!! - 09/10/08 03:27 PM
I was begining to think that the local BANK OWNED market was dying down. Silently thinking to myself a
market without REOs would be GREAT!!! Looking in my local market area I began to notice Downey: 32
Bellflower :21 Cerritos: 36 etc etc etc. The numbers of REOs were dropping by the minute. UNTIL I spoke
to a southern california asset manager who said, "We've got another wave coming! I am receiving an
account with 248 REO's in the following weeks! Just when I thought we were out of the water again were
going for another dive! What this means for … (0 comments)

reo: BUYERS PRICES ARE LOW!! GET WITH THE FLOW!! - 06/05/08 10:47 AM
BUYERS IT'S TIME TO BUY!!!
 
PRICES ARE LOW YOU CAN PICK AND CHOOSE FOR YOUR HOME GOOD LISTING AGENTS ARE PRICING HOMES USING BANK OWNED COMPS THE PRICES 90% OF THE TIME ARE RIGHT SELLERS KNOW IT'S A BUYERS MARKET AND ARE NEGOTIATING AGENTS ARE FOCUSING ON SERVING BUYERS BETTER THAN EVER THE MARKET IS PICKING UP AND YOU NEED TO GET WITH THE FLOW!! … (0 comments)

 
Benny  Chavez (THE CHAVEZGROUP AT COLDWELL BANKER PREVIEWS INTERNATIONAL)

Benny Chavez

Downey, CA

More about me…

THE CHAVEZGROUP AT COLDWELL BANKER PREVIEWS INTERNATIONAL

Address: 8255 Firestone Blvd. , Downey, CA, 90241

Office: (562) 896-7979

Fax: (562) 381-9114

Email Me

Southern California Real Estate Blog, LA County, Orange County, San Bernardino County


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