Whittier, CA

People have asked me, "Bob, why do they call you the ‘King of Bank Owned Properties'"?

Well, you've heard of the King of Pop. You can call me the King of BOP (Bank Owned Properties).

Other real estate agents in the City of Whittier have started to call me the King because they always see my business card whenever they preview bank owned properties. I preview more vacant, bank owned houses than any other agent in the City of Whittier.

I am always looking at the filthy, run down, bank foreclosed houses in the search for great deals for my buyers. Sometimes, I find a diamond in the rough, a house that just needs a little polish to shine. Sometimes I find a fantastic deal.

Nobody sees as many bank owned houses as I do. Nobody. There have been challengers who have come and gone. After a couple of weeks, they may view a lot of houses; but they don't stay in the hunt. Sure, there may be some agent who beats me for a couple of weeks, but they eventually fade away.

Yesterday I previewed 7 properties. There were a few dogs, but there were also two very good deals.

For the first time buyer, there is a small, two bedroom home for $199,900. It's a bit dirty. The bedrooms need new carpet, and the walls need some paint. The bathroom has been recently updated. The kitchen cabinets need some work, but they are still functional. Polish the hardwood floor in the living room, and it will shine!

For the first time buyer with a little more cash, there is a 3 bedroom, 3 bathroom steal. Each of the 3 bedrooms is spacious, including the master bedroom. It has a nice laundry room off the kitchen. Alley access to the garage. They are only asking $305,000 for this 1,424 square foot home.

Remember, if you are looking for your castle, come to the King of BOP!

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Bob Willis, Realtor®
Prudential California Realty
16218 E. Whittier Blvd.
Whittier, CA 90603
DRE License # 01788371
Phone: (562) 639-9400
Email: bob@willisrealtor.com

Search for your new home online at http://myhome.listingbook.com

Learn more about Whittier real estate at http://www.WhittierWelcomesYou.com.

New York Times reports home buying is Ideal article from12/06; http://www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=1&scp=1&sq=It%20maybe%20time%20to%20think%20about%20buying%20a%20home&st=cse

A colleague in my office lists REOs on a regular basis. Yesterday, while driving through my neighborhood, I saw his sign in front of a house that I hadn't seen before. So, I stopped and called him to get the particulars about the property. I wanted to know when it would go into the MLS, what the price was, how many bedrooms, and all the other pertinent information. Well, it sold before he was able to put it on the market in the MLS.

REOs are selling fast in Whittier!

Are you interested in buying a bank owned property in Whittier?

FREE List of Bank Owned Properties, with Pictures

Receive a free computerized printout of Bank Owned properties in the Greater Whittier area, including your choice of the cities of Whittier, La Habra, La Habra Heights, La Mirada, Santa Fe Springs or Norwalk.

To listen to a FREE RECORDED MESSAGE, Call (800) 385-1585, Ext. 101

Or, go to: http://www.BankOwnedReport.com to order your report.

Bob Willis, Realtor®
Prudential California Realty
16218 E. Whittier Blvd.
Whittier, CA 90603
DRE License # 01788371
Phone: (562) 639-9400
Email: bob@willisrealtor.com

Search for your new home online at http://myhome.listingbook.com

Learn more about Whittier real estate at http://www.WhittierWelcomesYou.com.

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REO Report for Whittier California - November 2008

As of today, December 3, 2008, there are 93 bank owned homes for sale in Whittier.

There were 37 REOs sold in the month of November, at an average price of $336,521 which is 100.87% of the average asking price.

The chart at the bottom half of the page shows the monthly sales of REO properties in Whittier since the beginning of 2008.

What does it mean?

• Bank owned properties are now selling faster. The average Days On Market for November was 34 days.
• Although prices have come down since the beginning of the year, bank owned properties are selling for more than their asking price.
• Agents in Whittier are seeing multiple offers on bank owned homes that are in good condition. These "bidding wars" may start to drive prices higher.
• If you want to buy a bank owned property, be prepared to make an offer that is higher than the asking price.
• If you find a home that you really like, and want to buy, don't wait even a day or two before you make an offer on it. If it is in good condition, and priced well, the odds are good that there will be multiple offers on it and it will be in escrow before your offer is written.
• The average sold price is lower; however, in July, sales more than doubled over the previous month.

The property you see today, and want to make an offer on tomorrow, was seen by someone else yesterday, who is making an offer today.

Bob Willis, Realtor®
Prudential California Realty
16218 E. Whittier Blvd.
Whittier, CA 90603
Phone: (562) 639-9400
Email: bob@willisrealtor.com

Search for your new home online at http://myhome.listingbook.com

Learn more about Whittier real estate at http://www.WhittierWelcomesYou.com.

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Do you have a money jar at home? If you're like me, lately you've been looking for ways to save a buck. Whether you're getting rid of your landline phone, working from home to save gas or eating at home more often it feels good to know you're trying and continuing to save up in case that dreaded economy gets any worse.

Today, I've got a way to save money we in the Real Estate industry haven't mentioned in quite a while. Refinance your home. Last month I closed my first refinance of the quarter and it felt good to help the couple not only pay off some debt but also lower their mortgage payment and feel at ease as the economy continues to trickle down to affect all of us. It made me think, if rates drop just a bit more we should really make a push to inform consumers that this could be an excellent way to save an extra buck. Well, rates have dropped and not just a little. The rates here at Venta Home Loans have dropped by almost 0.5% since last week.Anybody in the 6% interest rate realm should at least consider or speak to their favorite Mortgage professional to see if its worth it. I'm sure they'd be happy to hear from you and help if its to your benefit.

Act quickly. Rates have been quite volatile over the last few months and I don't anticipate they'll stop soon. There are so many factors that determine rate trends its impossible to predict. Even bankrate.com has "experts" that post conflicting opinions. There's no way to really know what will happen. What we do know is that today they're low and you could lock it low for the 30 days it'll take to close. Why not move on it? Just think of how the thought of saving on your mortgage payment will cheer you up during your holiday shopping!!!

HAPPY THANKSGIVING!!!!

Regards,

Hector A.