Rudy Detgen, Moorpark, Simi Valley, Realtor® , Real Estate Agent, Homes,REO

YOUR HOUSE AS SEEN BY:

YOURSELF...

YOUR BUYER ...

YOUR LENDER...

Y

YOUR APPRAISER...

Your County Tax Assessor...

Hi All,

I wanted to share a link with you all. I've been writing some articles for my local newspaper and I found one of my articles online at this podcasting site, it's very cool!

http://robocaster.com/vcs/podcast-episode-home/news-2007-jul-29-ten-tips-to-take-stress-out-of-buying-a-home/ten-tips-to-take-stress-out-of-buying-a-home.aspx

Good Luck

Rudy

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 doing the initial BPO and assigning a value to the property, it might be two months before the property gets listed. Predicting the market is critical.
• Waiting two months to get reimbursed for locksmith fees.
• Buyers always asking for section one termite repairs.
• Knocking on the door of an occupied property for the first time,(and you're the one who has to break the news to the occupants).

I could keep going, but you get the picture. Even with all the pitfalls and extra work, I think I'll be a better agent as a result of handling these transactions.

I wish you all good fortune in this difficult market.

Rudy Detgen

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 my perspective it is an indication that buyers are getting more comfortable with the market. The key for us as Realtors is to have our buyers financing in order and be ready to write an offer immediatly when a new REO comes on the market that meets their criteria.

Rudy Detgen

Troop Real Estate

Simi Valley,CA

805-217-6706