orange county real estate: *Working Shortsales Got ME shorter*....LITERALLY.
- 11/12/08 03:14 AM
CHECK THIS OUT. Loan balance are as follows: HomEq Servicing (1st lien): $560k Citifinancial (2nd lien) : $28k We have a verbal approval from the 1st lien (HomEq Servicing) that would accept a NET of $400k to them and allow a MAXIMUM of $2k to 2nd lien (Citifinancial). The 2nd lien demands $10k or else they would walk away and let it foreclosed. They said the account is already Charge-off and in their Recovery Dept so they already lost. They would rather walk away and not accept $2k allowed by 1st lien (HomEQ Servicing). Further details. The offer was … (12 comments)
orange county real estate: Do you *leave your Business Card* when previewing/showing properties ?
- 11/06/08 06:10 PM
I have requested agents to leave their business cards when they preview/show my property listings. However, I noticed that many do not leave their business cards. Whenever I preview other agents' listings, I do leave my business card as a courtesy so they see that I have dropped by. I wonder why some agents don't do that. Did they run out of business cards? Is business that bad that they cannot afford to re-order business cards? Are they a secret agent? They don't want anyone to know that they are busy showing properties? Are they afraid of letting the listing agent … (8 comments)
orange county real estate: Shortsale agents are *slums*
- 10/24/08 01:30 PM
The title piqued your interest, didn't it? Okay, not all shortsale agents are slums. The fact is that I called a listing agent today to inquire about a shortsale she has for sale. I asked a few questions as far as the property is concerned. Everything was good until I dropped the *bomb* on her. Technically, it is not a bomb but she thinks it is. Go figure. The conversation took a turn when I asked her which banks she was negotiating with. To my surprise, she felt offended from that inquiry! Whoa..hold it there chicken little. She said that is … (21 comments)
orange county real estate: Handing Over KEYS before * Recording* of Deed can be a liability
- 10/24/08 01:17 PM
Here's an interesting question. An agent at the office asked me this question earlier last week. Let's say the loan was funded right before the weekend, say Friday. Everything looks good and ready to close escrow. The only thing left is that it has not been RECORDED yet. It would be recorded the following business day which would be Monday. The buyer wants to get the keys over the weekend so that he can start moving his furniture into the house. The thing is that FUNDING has occurred but RECORDING has NOT. Buyer said they don't want to keep their … (14 comments)
orange county real estate: How your "10 AUNTS" are better than you think
- 09/22/08 08:15 PM
How your "10 AUNTS" are better than you think If you don't believe me, read on. I'm talking about "10 Aunts" that are mean, malicious, vicious, back-stabbing, 2-timer, etc and even they are not as bad as "tenants". Ok, that was a corny headline but it is getting late in the morning here as I write this post so forgive me. :) Here is a case in point...although this is a different type of "tenant". It's a little complicated. Here is the storyline. 1) I just got a listing on a home. Owner of home was an elderly man who had passed … (4 comments)
orange county real estate: Agents: How would you *SPLIT* this Commission?
- 09/14/08 06:24 PM
Agents: How would you *SPLIT* this Commission? A fellow agent named Joe ran into this situation. He found the lead and asked a fellow agent Larry to come along with him to the appointment to meet the seller for a listing. It is for a shortsale. The reason Joe asked Larry to come along is that in case the seller is more comfortable speaking spanish instead of english so having an interpreter would be beneficial. After meeting with the seller, they got the listing to do the shortsale on the house. Here is the situation. Larry does not like to deal with paperwork … (19 comments)
orange county real estate: Using an ALIAS on your business cards...
- 09/07/08 12:21 PM
I ran across an interesting thing over the weekend. Many agents use their name on the business cards. However, one such business cards I came upon was from an agent who used an Alias. On the business card, it did not have the agent's First and Last name but an alias with the designation of CRS, etc following it. It caught my attention as it was not your customary Real Estate business cards. Normally, you would see the first and last name on it. Has anyone run across this or used an Alias as their name on the business cards? Do you feel … (2 comments)
Anyone experienced this? I have a buyer who wants to put in an offer on a listing. She used her sister and brother in law names on the purchase contract and said she will be signing on their behalf. She does not have any documentation showing that she has the power of attorney. She merely states that she does have their verbal power of attorney and can sign the purchase offer on their behalf just to save time so that they do not have to bother signing it for now. What do you think of this? If she is … (2 comments)
orange county real estate: Do you *Lowball offers* that have a long DOM?
- 08/04/08 08:21 PM
120-150-180 Days on the Market!! Wow, let's lowball this offer and see if the seller will take the bait. This is becoming commonplace as buyers think that those with longer DOM tend to garner lowball offers. Even when it is priced right, the offers coming has a tendency to be on the low side. For this matter, don't overprice your listing. I see it time and time again that this occurs. Why not price it properly so that the seller won't be in that predicament? When showing properties to buyers, this is the feeling they usually have. I showed them the … (0 comments)
orange county real estate: Why Los Angeles "Rocks, Rattles, and Rolls" more than ANY other CITY
- 07/29/08 11:06 AM
How can I make such a BOLD statement? Well, because I can and I can back up that statement. With the exception of San Francisco, every other city is secondary. This is not something proud to say but here is the reason why. *Earthquake* HITS Los Angeles today 7/29/08 @ 11:42am PST Here is an article about the quake. 5.4 Earthquake A powerful earthquake rumbled through Southern California this morning. It registered a magnitude of 5.4 and we all felt it pretty good here. The epicenter was located near Chino Hills CA. It jolted buildings for several seconds which while you're in … (2 comments)
orange county real estate: Sharing an office space with a *talkative* agent
- 07/23/08 06:43 AM
I spoke with a fellow agent today who complained about that. She had an office space she shared with another agent in her office. They get along well so that is not the issue. The problem is that she cannot get much done when she's in the office. No, she is not hyperactive or anything of that sort that would hinder her ability to work. The problem is her fellow agent that she is sharing the office with. This agent talks too much while she is trying to get some work done and it is a distraction for her. She … (110 comments)
I was informed by a representative at Countrywide of this. I had a file where Countrywide sent an APPRAISER out to do the appraisal on the property. The appraisal report was completed. I called the bank to find out that after they had already received the report that it would take about 30 days for them to get an answer as whether or not the shortsale is approved. Here's the puzzling part of it all. They said that they cannot connect me with the loss mitigator. The only thing the representative can do is to take a message and send … (22 comments)
orange county real estate: How *BODY BUILDING* helped me in Real Estate
- 07/12/08 12:02 PM
I'll be Back! Formula for success = BODY BUILDING. It is not as repugnant as it sounds. It teaches discipline and focus. A healthy body paves the way to a healthy mind. Strong muscles lead to a more fit body which provides more stamina for door knocking, prospecting, etc. Stay healthy, stay fit. Treat your body right and you will be rewarded success ten times over. Even Arnold invested in real estate. Walk confidently in the direction of your dreams. Dress for success. A slovenly dressed person may not yield the same astronomical results as one who is well dressed. A pretty face or … (16 comments)
orange county real estate: ** BUYERS: Do you really want the property? Then BE NICE TO your Agents. Read to find out WHY.
- 07/04/08 07:33 PM
Here is a story from an agent friend of mine. Difficult buyers are hard to work with and can be a drain on your time. If you're prospecting enough, there is alot of business out there so don't settle for less than the best you can. Consequently, you can be choosy on who you want to work with. ------------------------------------------------------------------------------------------------------------------- On one transaction where my friend, John, was working on where he was the listing agent, a buyer named Betty called to inquire about it. At first Betty was quite pleasant. She then proceed to inform John that she does not like to work with buyer's agent because sometimes it … (6 comments)
orange county real estate: ** Submit your final/BEST offer. Why do you have a problem with that?
- 07/04/08 06:55 PM
I was representing the seller on a transaction recently. I've gotten together with the seller and since we had multiple offers on the property, I suggested to the seller to send a multiple counter offer to the offers indicating that the buyer to submit their final and best offer. Based on what we receive back, we will make a decision. I've done this in the past and never had a complaint from an agent. Well, an agent representing one of the buyers called me yesterday to say that it was ILLEGAL to send such a counter. I almost wanted to tell him if … (16 comments)
orange county real estate: ** Palm Centro: VERY LOW on BATTERY!!
- 05/30/08 05:19 AM
I just bought a new phone with a 30-day trial with Sprint and I'm having mixed feelings now. I got the Palm Centro. It is a very nice phone but there is one big problem with it. The battery drains so quickly that I seemed to be constantly charging it. I don't even use the web that often and the battery still drains fast. Does anyone else have a recommendation? I may look at the 3 phones below as a possible switch over if I don't like the Palm Centro. BLACKBERRY The Blackberry Pearl looks nice and slim but I heard … (12 comments)
orange county real estate: ** The BEST Cell phone for Realtors
- 05/22/08 05:58 AM
I've been doing some research to find a new phone. Which cell phone do you use? Do you like it and would you recommend one over the other? There are many options out there. I have looked into a few Cell Phone Provider and may be switching service provider. I am debating between Sprint and AT&T. I've looked at the following cell phones. 1) - Palm Centro 2) - Blackberry Pearl 3)- Moto Q 9c 4) - Blackberry Curve Which one of the above phones would you recommend? The features I'm looking for is one with Speakerphone, BlueTooth, Camera, Long battery … (31 comments)
orange county real estate: ** Realtors, STOP STEALING MY LEADS!!!
- 05/22/08 03:53 AM
Don't steal my listing! This is what one agent in the office said. I know of one agent in the office who advertises his services in the local newspaper. He does not have any listing of his own so he goes around the office asking other agents to give him their listings so he can advertise it on the paper. Some agents are reluctant to give it because they feel it is their own listing and why should they give it out. Does anyone also do this and if so how effective is it? Do you get objections from other … (12 comments)
orange county real estate: ** Are you getting these BOGUS REFERRAL LEADS??
- 05/22/08 03:40 AM
I don't know if it is only me but has anyone also been getting these Referral Leads sent to their email account. These are 'supposedly' referral leads from other AR members. It states that it is a referral lead but when you click on the link, it is merely more about advertising their services instead. One link I had said that there is a 25% referral fee. They will pay you if you sent them a buyer for their property listing. Another said they have a client who is looking to buy a home in a certain area and if … (4 comments)
orange county real estate: ** Happy Father's day!
- 05/11/08 07:58 AM
No, that is not me in the picture...but I just wanted to take a moment and wish everyone a Happy Father's Day. It happens only once a year but it should be thought of every day. A few of my friends have raised their kids and it is not an easy task. It takes alot of hard work, discipline, and the dedication and love put into watching them grow up is quite remarkable. No, it is not a typo. :) It is Mother's Day but I realized that there are some fathers out there who raise their kids themselves. In a way, … (10 comments)
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