Ready2BuyHomes.Org

Thanks for returning, If you're a CASH BUYER & looking for wholesale properties in CO, FL, AZ, CA, NV, TX visit US Wholesale Properties. Buy Wholesale Properties direct from the bank! Thanks for visiting!

Bank of America Executives admitted to a terrible 2009 in which only 30% of their short sales were approved.

True Fact: BofA had one intake center that consisted of 125 fax machines for all short sales documents to be faxed to. In that room 5,000,000 documents came through per month. I think this explains a lot!

True Fact: They currently only have 200 people in the call center to field short sale calls from agents and clients. So your wait time will be… “Two Hours… Fifteen Minutes”

Things are improving and I can vouch for that. Submissions from 2009 are still being lost in the shuffle, but deals in 2010 are moving quicker with the addition of Equator. This is a web-based program in which all files are uploaded… no more faxing. Make sure your Realtor is registered and familiar with Equator.

True Fact: By approving a short sale the bank will recover 12-20% more of the loss than they would if it went to foreclosure.

True Fact: You do not have to be late on your mortgage to get the short sale submitted and approved. You do however need a valid financial hardship.

True Fact: Bank of America is only delegated to make a decision on 30% of the loans they service. The other 70% require an approval from an outside investment group.

The new goal for Bank of America is to approve short sales in 45-90 days. Lets hope this goal is achieved!

admin Market News update, Uncategorized Bank America, Bank Of America, Bofa, Call Center, Equator, Fax Machines, Fifteen Minutes, Financial Hardship, foreclosure, Intake Center, Investment Group, Loans, Mortgage, Realtor, short sale approvals, short sales, Shuffle, Submissions, True Fact, Wait Time

I wanted to write this to discuss a little more about short sales and the business model so that those of you that are looking to get into short sales and help homeowners  who are facing foreclosure to STOP a foreclosure thereby saving the property owners credit, dignity and embarrassment.

The most important part of the short sale business model is the negotiator and the broker’s price opinion (BPO). The reason why i think the negotiator is the most important job in the short sale business model is that negotiators must be an artist and be able to keep communications open between Realtors, the BPO agent,  the listing agent and the funding source as well as the referring source that is giving you properties to process.

Short Sales Model

Acquisitions –> Negotiator –>BPO Agent –>

Listing Agent –>Transactional Funding –> Title Company

It is extremely important to have your negotiations in house and not outsourced. The biggest reason is because that it is easier to have better communications to all of the people in your different departments.  So if you have a funding problem and the transactional funding company  need details, the negotiator will have all of the information. If the listing Realtor need to have details about the concessions or need to know how soon before the approval should be here, the negotiator will have this information.

If you’re brand new to real estate investing the first thing you will want to get is a deal right? You know and actual deal that is a short sale. So this means that you need to have some marketing strategies in place. You should have some direct mail marketing going, posting Craigslist ads and other internet marketing, T.V. and radio ads, door knocking, cold calling and possibly press releases talking about your services.

Once you get leads coming in, that you need to have a presentation person that you hire or maybe its YOU that makes the presentation to the property owner to show them how to use a short sale strategy how to move through the foreclosure/short sale process. This person must be good at listening, presenting the solutions and answering questions and truly care about helping the property owner resolve the foreclosure.

My next blog post will address in more detail the short sales business model.

admin Investor Short Sale Profits, Uncategorized acquisitions, Better Communications, Business Acquisitions, Business Model, Business Process, Business Sales, Cold Calling, Concessions, Dignity, Direct Mail Marketing, Embarrassment, Facing Foreclosure, Internet Marketing, Job, Marketing Strategies, Negotiations, Negotiator, Negotiators, Presentation Person, Process Model, Property Owner, Property Owners, Radio Ads, real estate, Realtor, realtors, Sales Help, Sales Model, short sales, Title Company, Work Wanted

Attention Realtors:

I’m writing this post in hopes of sharing some of the strategies that I use to help homeowners STOP foreclosure. We all know that many people are facing the unfortunate predicament of being faced with foreclosure. Most of the people that are dealing with this are trying to figure out how to navigate through this process and to do it successfully. The problem is that there are few people that really understand the strategic process of how to successfully resolve a foreclosure problem.

Most real estate agents are really good at talking to people and interacting with clients and deliver great service to their clients, but dealing with a short sale is extremely complex.

In talking with a lot of Realtors that have buyer that are looking for properties, most will NOT show them a short sale that is listed on the multiple listing service (MLS).  The main reason why is because there is NO value in a home that is in foreclosure and their client will have to wait until the bank approves the short sale purchase price. this process could take months or even more than a year for this to be completed and truthfully most buyers will have moved on to find another home to purchase.

Real value is created when a home that is in foreclosure has been negotiated and the bank has approved a short sale. This process of creating value is what the new buyer (and buyer’s agent) wants and will then have the opportunity to purchase the property and the Realtor receive their commission. After all this is that everyone really wants — a happy buyer and a happy Realtor that can move on to their next client/deal.

I work with a group here in Denver, CO and we specialize in working foreclosure files and creating this value. We are looking for a few Realtors that are willing to understand our system of how to attack this foreclosure problem RIGHT NOW!

Here are the benefits to working with us:

• Once you have a foreclosure/short sale listing we will place one of our buyers on your property and that buyer will stay to the very end of the short sale process to ensure that the property will be sold
• Our buyers have the funds to close the transaction
• Our firm handles the negotiation with the bank
• A Realtor that refers their listing to us receive 3% of the approved sales price.
• Once 5 Deals have been purchased from the Realtor, the next 5 (deals 6-10) the Realtor received 3.2% and from deals 11-15 the Realtor receives 3.4% commissions and so on…
• Using our proven system, Realtors can find more deals, NOT waste time on the phone with banks, and receive higher commissions then from anyone else working the Denver short sale market.
• Learn the right way to create commission  income from any short sales that you find in the Denver market.
• Complete online training program coming soon. this program will walk you step-by-step on how to find, list and sell your short sale listings for a minimum of 3% commission per transaction.

I invite you to contact me (Mark Coble @ 720.220.7819 or mark@ready2buyhomes.org) to get more information and to complete the application process. We will be having one Realtor workshop per month where you can meet us face to face and discover how you can create great commissions working with our Denver solutions group.

admin Realtors Earn 3 Points w/Short Sales, Uncategorized Attention Realtors, Denver Co, foreclosure, Lot, Multiple Listing Service, Predicament, Real Estate Agents, Realtor

First Time home buyers, investors take a peek at this property located in . Green Vally Ranch. This 3 bedroom, 2.5 bath and 2 car garage, will CASH FLOW like crazy for you real estate investors for only $115,000! If you’re a first time homebuyer, buy this home and receive a tax credit of $8000 just for buying before December 1st, 2009. This home is close to DIA, shopping parks and recreation and located in the Denver county school district. Contact Mark Coble @ 720.220.7819 for more information or have your Realtor set a showing for MLS# 774374.

admin Uncategorized Car Garage, Cash Flow, Coble, Contact, County School District, Denver County, Denver County School District, Denver Home For Sale, First Time Home, First Time Home Buyers, First Time Homeowner, Green Valley Ranch, Green Vally Ranch, Mls, Parks And Recreation, Peek, Ranch Gallery, real estate investors, Realtor, Shopping, tax credit, Time Home Buyers