Ken Wiseman

Well Toyota 4Runner come, and no, there were no issues with the vehicle. All was the same as I had left it in Reno, NV, except greasy and this random glove on the passenger floor? Viking delivered it to me at the Airport where I have for the last time have given up my Hertz rental car. Wendy was sad and asked I stopped by and say hi whenever I was at the airport. Total cost for having my own car: $5200. Having my own car real value: PRICELESS. I know what I have, know its maintenance and its mine!

As I was driving down the hill to the airport to drop off the rental car, I saw a cruise ship docked at Havensight, it was the ship that Shannon and I first visited St Thomas in January 2009 the Norwegian Gem, the whole reason for how we ended up buying here! Karma?

Well, as I was driving from the airport to go home, Shannon called me about the conference call with our largest client in Reno, NV. They had said with NV bill AB 241, that it would 2-3 years before we would start seeing any new foreclosure inventory! I was like just as I had predicted, we have 30 of our 40 listed REO properties pending. The client was not going to seek judicial foreclosure, only non-judicial. It took me about 1 minute to decide to pull off to the DMV to get my driver's license as mine was expiring in NV in April and I think we both know what the writing is on the wall for NV.

So when you go to get your license, you walk in and there are all these windows with plexiglass, no real direction? So after asking, I finally made it to a window that asked for all my stuff. I showed it to her, she say, "go to cashier". Went to cashier and paid my $45 with my Mastercard and you go wait. So I waited for about 10 mins and then you step into this office. It was so crowded with a desktop pc, digital camera with a mini tripod, finger print machine, eye tester etc. The gal there was so nice, she first asked me, "Mr. Wiseman, how long have you REALLY lived here?" I was laughing, I said, "I honestly just had a whim that I would be living here full time after what happened today. We began talking and told her that I just lost 3 dogs in 4 months, these were our kids and needed a change after our client basically told us we'd be out of business. She was like, "I love my dogs too!" So we both spent about 20 minutes sharing dog stories and pictures from our IPhones!

Here is what you need for the license:

Passport
Social Security Card
Current US Driver License
Driving record for the state you live in (most have it available on-line, just print it out).

Ahhh, guess this is going to be home now! Won't mind with views like this from our home!

Well here we are 2 weeks into the new year of 2012!

For 2011 I sold 265 homes for $31,000,000 in gross dollar amt for an average sale price of $116,000. #6 NNRMLS

Compared to 2010:

Sold 256 homes for $34,000,000 and an average of $132,000. #1 NNRMLS

As you can see, more work for less money!

But that is not even start of it. Since the NV legislature passed a new law asking for an avadavidt of who actual owns the loans our notices of default have gone down from an average of 700 per month to an average of 15 per month since the law went to effect on 10-1-11.

So why do I care about this statistic? Well our business model has been based since 2008 on Bank Owned properties or REO's.

Due to no new REO inventory as the law has taken its effects, we are sitting now on only 40 listings with an average price of $115,000 (prices still falling?). That would make an average commission of only $2875 per sale. Right now we are receiving about one new assignment a week with holidays would be about 3 per month of 45 per year if all would pan out and prices remained stable. Prices will probably rise due to the lack of inventory but this will be a false bottom as the inventory that has not been foreclosed will still be waiting in the wings and once the banks figure it out, here comes the flood gates!

So I want to first wish the Nevada legislature for the bright idea in passing this law!

In celebration of this new law and the lack of inventory, I decided to work from the house we bought in 2009 (will give a post about buying this home another time) in St Thomas, US Virgin Islands. I am on a soul searching mission as well to see what the market is about here more in depth. I need to see if I can still make a decent living without killing myself selling 250 homes a year. Of course if I sold only 10 a year with the average price here, I don't think it could be a bad thing?

I am burned out of selling REO's and of having to work with incompetant large corporations (aggg, that was the reason I got into RE, was to not work as a cog in a workplace of stupidity)! We have no family or really any good friends in Reno, NV. We have no kids, just two recycled Labs. Hmmmm....I guess the only way to find out is to investigate, right?

So what did I do this past weekend? Well went to Jost Van Dyke at the Soggy Dollar Bar with some friends and saw the NY Jets QB, Mark Sanchez! Also visited Norman Island and the Willy T's floating bar! What a way to relax!

My wife Shannon and I decided to ship our 2004 4Runner down here as well as we already have 3 cars in Reno and was just sitting in the garage and tired of renting a car here. So we shipped it via Viking Moving Services, it left on December 14th. Well it arrived today! It went to Jacksonville, FL, then on a boat to San Juan PR, then another boat to St Thomas! Well I was informed today by Viking that the Bill of Lading had on there a chipped windshield, scratches all over and missing tail lights? Missing tail lights? What did they take the entire tail light assembly? No one knows as they still haven't unloaded it from the boat, "soon come" I am told. Hopefully it will be at Viking's warehouse tomorrow so I can see for myself!!! I was told that it would have to be repaired to pass the mandatory inspection. Yes, 4Runner, soon come!

I did get the insurance done for the 4Runnner, about $1000 a year or $400 more a year which I don't understand as you cannot drive more the 30 MPH on a 13 mile long island? I know, it must be that we drive on the left here? Go figure!

As I noted in an earlier post, I would start blogging again! Well here I am! Stayed tuned!