foreclosures: Foreclosures Continue to Increase
- 12/10/09 09:49 AM
Foreclosures Continue to Increase: 12/10/2009 November's foreclosure flings surpassed 300,000. The unemployment rate reached 10 percent, and is expected to continue to increase until the first quarter of 2010. Defaults Last month 306,627 properties received defaults or auction notice or were bank seized, which is one in every 417 household in the U.S. RealtyTrac predicts the numbers will be similar for the month of December. During the months of January thru November, there have been 3.6 million foreclosure filings. In Nevada, one in every 119 household received a filing during November, which is the highest foreclosure rate for the 35th month … (0 comments)
foreclosures: Asset Management Companies are jumping on the Short Sale "Bandwagon"!
- 12/02/09 04:28 PM
We've all heard about "Phantom Inventory" and the next "Wave" of foreclosures and subsequent REO's, but right now Short Sales are the thing. In my Market, they're everywhere. About six months ago we saw a slowdown in REO's due to loan modifications, moratoriums and Short Sales. I sent query letters to all of the asset management companies that I work for to see what their thoughts were about managing Short Sales. I received a mixed review. Mostly comments like,"we've considered handling Short Sales but are not currently interested, thank you for your foresight". Well, things are starting to change. Finally......... at least one progressive asset management … (7 comments)
foreclosures: Moorpark, CA. 3rd Quarter 2009, REO Real Estate Market Report
- 10/27/09 02:40 AM
07/01/2009 - 09/30/2009 - Moorpark, California Residential units Sold that were REO: 23 AVERAGES: Days on market: 31 List: $454,897 Sold: $463,849 SP%LP: 101.97% Sq.Ft.: 2200 $ per Sq.Ft.: $211 High: $1,225,000 Low: $145,000 Median: $350,000 Comments: Currently in Moorpark as of 10/24/2009 there are 14 listed REO's with only 2 active listings. Prepared by: Rudy Detgen; Troop Real Estate; DRE Lic:01770676 information deemed reliable but not guaranteed … (2 comments)
foreclosures: Shadow Inventory Climbs past 7 Million?
- 09/30/09 05:02 PM
According to DS News, that's what is about to happen. You can read the article by following the link below. http://www.dsnews.com/articles/new-housing-crash-looms-as-shadow-inventory-climbs-past-7-million-analysts-2009-09-25 It sounds like we're going to be hit by a "REO Tsunami", I hope we all survive! Rudy … (3 comments)
foreclosures: Moorpark Home Sales Market Report, 1st Quarter 2009, REO, Bank Owned
- 04/01/09 06:09 PM
Moorpark, CA, Home Sales Market Report 1st Quarter 2009, REO Analysis: Days on market remaining stable averaging 53 days. Cost per square foot: $210.48 (REO) Cost per square foot: $249.10 (NON-REO) Selling price%List price at 98.28% Percentage of units sold that were REO:19%. Total units sold: 81 Prepared by: Rudy Detgen Troop Real Estate Inc. 3200 E Los Angeles Ave #12 Simi Valley, CA 93065 RDETGEN@SBCGLOBAL.NET www.rudydetgen.com all data deemed reliable but not guaranteed … (0 comments)
Total units sold: 84 Units that were REO: 9 Averages Non REO: Averages REO: sq.ft. 2,178 sq.ft.: 1,482 List Price: 571,775 List Price: 354,400 Sale Price: 534,963 Sale Price: 353,433 SP%LP: 93.56 SP%LP: 99.73 $/sq.ft: 254.62 $/sq.ft.: 239.20 DOM: 103 DOM: 86
Presented by: Rudy Detgen Troop Real Estate rdetgen@sbcglobal.net www.rudydetgen.com all information deemed reliable but not guaranteed
… (0 comments)
foreclosures: Simi Valley, CA, REO Housing Market Report 4th Quarter 2008, Bank Owned, Foreclosures, Home Sales, Simi Valley Moorpark Housing Market
- 02/08/09 06:33 AM
Simi Valley, CA, REO Market Report 4th Quarter 2008 Analysis: Days on market remaining stable averaging 47 days. Cost per square foot remaining stable at $235.00 per sq.ft. Selling price%List price at 100.58%, up from 3rd quarter Percentage of units sold that were REO:18%. Down from 3rd quarter's 46% Prepared by: Rudy Detgen Troop Real Estate Inc. 3200 E Los Angeles Ave #12 Simi Valley, CA 93065 RDETGEN@SBCGLOBAL.NET www.rudydetgen.com all data deemed reliable but not guaranteed … (1 comments)
Two Bedrooms, two and one half baths. Gorgeous kitchen with stainless appliances, white tile and designer back splash. Master has two closets and it's own private balcony. Lower level has Bamboo laminate flooring throughout. Custom paint and lighting. Enjoy the sounds of a rushing river just inches from your private patio. A must see property! Rudy Detgen Troop Real Estate cell: 805.217.6706 email: rdetgen@sbcglobal.net web: www.rudydetgen.com
Bank owned, REO 1156 Arcane St, Simi Valley, CA 93065 4+2, newer kitchen, RV, fireplace, covered patio. Offered at $364,900
Presented by Rudy Detgen, Realtor Troop Real Estate Cell: 805-217-6706 email: rdetgen@sbcglobal.net … (0 comments)
foreclosures: SIMI VALLEY BUYER'S AGENT JOINS REO TEAM! bank owned, foreclosure, homes in ventura county
- 11/20/08 07:16 AM
FRESH OFF THE PRESS! REO listing specialist Rudy Detgen, just added a buyer's agent to his team! This is exciting news for anyone looking to purchase bank owned homes, REO's, in Ventura County or the San Fernando Valley. Jamison Malone comes to the team with years of experience in the local market representing both buyers and sellers alike. She is experienced in writing offers on some of the most difficult transactions in a market where almost half of the homes sold are Real Estate Owned, (REO), or Bank Owned. Jamison will offer buyers of these properties her expert representation in dealing with the banks. … (0 comments)
foreclosures: TROOP REAL ESTATE; SIMI VALLEY REO (BANK OWNED) LISTING AGENT ADDED BUYER'S REP TO TEAM!
- 11/19/08 01:12 PM
FRESH OFF THE PRESS! REO listing specialist Rudy Detgen, just added a buyer's agent to his team! This is exciting news for anyone looking to purchase bank owned homes, REO's, in Ventura County or the San Fernando Valley. Jamison Malone comes to the team with years of experience in the local market representing both buyers and sellers alike. She is experienced in writing offers on some of the most difficult transactions in a market where almost half of the homes sold are Real Estate Owned, (REO), or Bank Owned. Jamison will offer buyers of these properties her expert representation in dealing with the banks. … (1 comments)
PREPARED BY : RUDY DETGEN, REALTOR RDETGEN@SBCGLOBAL.NET www.RUDYDETGEN.COM
… (1 comments)
foreclosures: Appraisal VS. BPO
- 07/12/08 12:32 PM
Pricing of REO properties is critical if the bank is seriously trying to get it sold in 30 days. This statement may seem obvious to those of us in the business but it's not as easy as one might think. When a Lender assigns a property, one of the first tasks to perform is a Broker Price Opinion or BPO. This requires pulling comps in the area of both listed and sold properties and coming up with an opinion of value. This is a full BPO with interior and exterior photos. The agents need to take into account any repairs the property may need and … (16 comments)
foreclosures: What is an REO finder? and other thoughts.
- 07/03/08 06:17 PM
A finder is an outsource company for a lender. Some of the larger lenders use finders to manage their REO assets. In my experience I have received listings in two ways. Either I'm engaged by the lender or I'm engaged by a finder. The finder is an independent asset management company that the lender outsources properties to. The reason they do this, is that right now some of their asset managers have 400 properties in their portfolios. They simply can't handle the workload so they "farm out" some of the business. If you are an approved agent with one of these … (1 comments)
foreclosures: Will banks play the seller paid down payment game?
- 06/11/08 05:31 PM
Hello All, I currently have a couple of REO's listed in Ventura County California. I'll be honest when I say that these properties are hard to sell, so I recently got together with a home loan consultant from Countrywide to discuss downpayment assistance programs. The Nehemiah program seems to be the most well known. Although these programs recently came under fire from the FHA, I think they may be a win, win for both qualified buyers who may not have 3% down payment, and the banks trying to get rid of these assets. I have written a couple of query letters to the … (3 comments)
foreclosures: REO's, dancin' in the dark
- 06/05/08 06:46 PM
REO's are on the upswing in the Simi Valley/Moorpark area of Ventura County California. I have been listing and selling REO properties for about two years, and some things about them don't get any easier. Never meeting the seller in person. Never meeting the seller's parents, (senior asset management who gives final approval). Coaching the buyer's agent, (constantly having to explain the rules of the game) Having to explain "AS-IS", over and over and..... Countering out all the concessions that buyer's agents write into their offer just out of habit. Having to second guess the market at the time the property gets listed,(after … (2 comments)
foreclosures: REO activity "picking up"
- 05/11/08 07:10 AM
REO activity is really picking up in Ventura County California! Another example is a small three bedroom, two bath home that recently went on the market in the $300K range. This home wasn't on the market three days and it had six offers. The Lender came back and countered all of the offers with "highest and best", and so it goes. Another example of the "overbidding frenzy" that occurs when a property is priced right and everybody who is looking for a good deal jumps on it at the same time. I'm seeing more of this all the time and from … (1 comments)
foreclosures: REOs,Simi Valley,CA
- 04/19/08 12:47 PM
I just wanted to share a recent experience I've had in listing bank owned properties. I was first assigned this property back in January. I did all of the necessary "chores" like rekeying the locks, lawn maintenance, repair bids, BPO, and property inspection. Then I waited for about two months until the asset manager handling the property emailed me giving me the listing. I was both disappointed and elated at the same time. Disappointed because the seller had not elected to do anything about the "green" swimming pool. Elated because the list price was better than I had hoped. In my … (15 comments)
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