reo: You are in California, I am in New Jersey, Obviosly you know the NJ Market Better
- 05/12/11 02:06 PM
I just worked hard on 2 BPO's for a company that shall remain nameless to protect the guilty. One hint is that they are located in California. My market area of expertise is North Jersey. That is where the orders were for. As I usually do, I put alot of work into the reports that I submit. I make sure that they are accurate and reliable. I knew when I hit the submit button on these two I would be hearing from the BPO police. Obviosly being from Jersey and working in the area, I need to get a clue. The … (3 comments)
reo: Typical Maintenance Friday for An REO Agent
- 05/06/11 02:55 PM
This Friday was like most in that I started out expecting it to be slow and hoping to leave the office early. I started by extending 6 listings in my 2 MLS systems and filing the paperwork with my local MLS. Then the fun rreally began. Apparently PSE&G has "improved" their phone system. Instead of waiting 5 minutes on hold to speak with a live individual, I waited 40. Oh well, it gave me a chance to listedn to some Jimmy Buffett tunes on my laptop and dream about my upcoming vacation. After PSE&G assured me they would be sending out … (0 comments)
reo: You Can't Judge A Book By It's Cover--Her Loss, My Gain
- 05/05/11 03:09 PM
A few months ago I was sitting at my desk catching up on some marketing mailers when I hear another agent call my name. She has been in the business 20+ years and had just received a call at the "up desk". The woman calling was interested foreclosure property a few blocks from the office. The agent didn't want to deal with the client for two reasons: 1- She "does not do forclosures" 2- The client was st the property and wanted to see it right away 3- The caller did not "sound" like it was worth it. I knew what … (2 comments)
reo: BPO Thoughts and Tips. Please share yours.
- 05/03/11 02:26 PM
Here are a few ideas that have helped me complete thorough BPOs. Some I use in every BPO so I don't forget a topic and some are phrases and ideas I use in other circumstances. Feel free to comment and share your own ideas. BPO Final Summary Topics (I use this outline to remind me of all the areas I like to hit) Location, Condition, Style, Size, Total Room Count, Bedrooms, Bathrooms, Garage, Basement, Extras, Current Market Condition, Future Market Expectations, Repais Some phrases I find helpful The subject is close to transportation, major highways, employment, and amenities. (Can be added to or taken away from) The subject is located … (0 comments)
reo: New Jersey Foreclosures Still Taking Time To Return Time Market
- 05/01/11 09:29 AM
I just wanted to post a brief update with regards to the New Jersey REO market. Most properties have been onhold since winter. A New Jersey State Judge was reviewing the practices of 6 major lenders in the state. After reaching an agreement with the lenders here is where it stands. The lenders have agreed on a settlement that alows an ex-judge from New Jersey too oversee Foreclosure Properties. It is now up to these lenders to make sure all the paperwork is in order to proceed. Opinions from some Attorneys that handle these properties in the state vary as … (0 comments)
reo: BPO's What Are They and How They Benefit New Agents
- 04/30/11 02:54 PM
When I enetered the real estate business two short years ago, I was lucky enough to be taken under the wing of a successful REO agent. Last year our group closed over 150 REO deals. He started in the business about 8 years ago primarily doing BPO's and residential listings. He credits the hard work he put into each BPO as a contributing factor to his success today. A BPO is a Broker Price Opinion. It in essence is a market analysis of a subject property ordered by a bank (most of the time). The back asks an agent to insopect … (4 comments)
reo: First Steps In The Rain
- 04/29/11 12:51 PM
Welcome to my initial blog on Active Rain. I just wanted to get started by introducing myself and letting you know what I am about. My name is Michael Morley and I have been in the Real Estate business for 2 short but educational years. With a marketing background for a non profit organization in North Jersey, I decided to transfer this experience to the Real Estate Market in 2009. Over these 2 years I have eveolved in the real estate profession, learning as much as I can in a short period. It has been a wonderful and exciting experience. … (8 comments)
I just worked hard on 2 BPO's for a company that shall remain nameless to protect the guilty. One hint is that they are located in California. My market area of expertise is North Jersey. That is where the orders were for.
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