I had the pleasure of attending the CRS training in Pleasanton this week for the SFR designation. Frank Sirio and LeRoy Houser were the trainers. Foreclosure Avoidance is my specialty (and my passion) and I was eager to take this training. I have completed more than 50 hours of training in short sales and foreclosure avoidance at this point and was eager to go.
I was not disappointed and would encourage anyone to take this course. I always feel that if I get one good idea from any training it is well worth it and there were a lot of great ideas and good information.
I am now completing the webinars and they are also very informative.
One of the things I love most about this business is the willingness of Realtors to share information and ideas with each other.
I was on a listing appointment yesterday and the seller commented to me that our business is so highly competitive. I told them that it is but that we are also a small tightly knit community and rely on each other. Without our mutual cooperation it is hard to imagine homes selling!
Foreclosure avoidance needs to be at the center of the solution to our current economic crisis. Homeownership provides stability in a community and is the most reliable and proven path to building wealth. Our ability to help a homeowner retain their home or avoid the auction block is critical. I've been in the business for 30 years and I don't think I have ever been more proud to tell people I am a Realtor and I serve the community!
I always like to share what's working with my fellow agents and appreciate it when you do the same. I have had the opportunity over the last two years to compare two website development companies, Real Pro Systems and Z 57.
My experience with Real Pro who built my website www.teamreilly.com has been superb. Responsive, knowledgeable and caring, they do exactly what they say they will and I have drawn a lot of traffic with this site. Other agents I talk with say the same thing.
My experience with Z57 has been the opposite. I will spare you the details but suffice to say I would, and will, avoid them at all costs. I spent hundreds of dollars with them and never got a website up and running. Numerous phon calls and emails back and forth but never a tangible result. I should have known from the first call when I felt like I was talking to a used car salesperson, that this would not be a good fit for me.
I'd love to hear if anyone has a product they can reccomend. I am always looking to build my business.
Having been working on a short sale for months (representing the buyer on this one), we finally have approval from the Bank and now cannot get the association to give us the HOA docs.
This is a small self-managed association and they had big issues with the seller for nonpayment of dues (can't believe they did not foreclose the unit based on that alone, it was a huge amount owed). Having said that you would think they would be dying to get the buyer in so they could start collecting dues again. If this goes to foreclosure rather than short sale they will get nothing. The Bank is willing to pay some of what is owed.
I always thought associations were required by law to provide these docs. Any thoughts from you CA condo experts?
I represent the buyers who submitted an offer to purchase on an Indymac Short Sale on March 31st, 2009. This was accepted by the sellers and has been pending approval from Indymac since then, a period of 4 ½ months. No response for months, the listing company hired a new facilitator (Thank God!) and we started getting some action on the file.
After months of waiting, we received an approval from the negotiator for Indymac, that was not compliant with the terms of the offer to purchase. She approved a sales price of $185,000 with no closing costs credits to the buyer and we had asked for the 3% credit. Her approval included $3,000 for a 2nd lien holder. I do not believe there is a second lien holder.
My buyers offered to increase the purchase price to $190K and with a 3% credit back to the buyers for closing costs. The net to Indymac will be same if not higher.
The facilitator sent a revised HUD1 to the negotiator, asking for her approval. On 7-20 the facilitator sent another email asking for an answer. On 7-27 the negotiator replied that these terms were acceptable.
The facilitator has asked for an amended letter numerous times. The negotiator sent another email saying that we were to use the original letter and credit part of the closing costs towards the 3% credit for the buyers.
The facilitator was told that if we wanted a new letter of acceptance the file would go to the bottom of her "pile". I suspect it has!
The facilitator went to the Title company and asked if they could close with the original letter and they said they could if the final Hud1 showing the $185K was approved by Indymac.
At this point, having been assured that we had acceptance of the terms and conditions for the short sale by the bank, I advised my buyers to move forward, lock their loan rate and have their loan officer order the appraisal.
The negotiator then informed the facilitator that she was sending the $190K offer to investors for review. This after an emailed approval (but no letter of approval)
We have no idea where we stand now. My buyers locked their loan rate based on assurances from the negotiator that the short sale was approved. We cannot seem to get anything in writing and we cannot move forward without it.
That is my tale of woe. If anyone has any input or a contact who might help me at Indymac I would be eternally grateful. If you need the name of the negotiator I will gladly give it to you but hesitate to publish it for obvious reasons. I posted this on CDPE community, of which I am a member, with the negotiators name included and discovered I was not the only one to have issues with her. The complaints about Indymac, now One West, on the internet are legion. Tried to get an email for the CEO and it is nowhere to be found on line.
30 year industry veteran. Brokerage Manager of top selling Luxury Real Estate office. Award winning coach of top producing agents. Short sales and Foreclosure Avoidance specialist. CRP, CDPE.
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