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Area Foreclosures

JoshMclean avatar
Beach Fanatic
75,587 views
I figured that some of you would like to see some of the area foreclosures. These are bank owned properties.

http://www.joshmcleanhomes.com/buyer_mistakes.asp

Replies

342
Beach Lover
#78
How does it work? Who has the salespeople? Thanks

Sorry I'm late in getting back...knee deep in wedding planning for daughter #2 with a 3 month
notice. Per daughter #1...she's overworked and exhausted but relayed the following.
The structure of how they are going to do this in simple terms is basically this. 1. Portal (virtual office) for management and distribution of all 27,000 REOs has just been built for that company alone. My daughter is the supervisor and will be hiring 300 asset managers to handle roughly 300 listings each. There is also a system in place that sole job is to get brokers all over the U.S on board and ready for their use. So basically the asset manager assigns a property to the closest broker and then the tasks start pouring out until the home sells and everyone profits.
TheSheep avatar
Beach Fanatic
#79
Sorry I'm late in getting back...knee deep in wedding planning for daughter #2 with a 3 month
notice. Per daughter #1...she's overworked and exhausted but relayed the following.
The structure of how they are going to do this in simple terms is basically this. 1. Portal (virtual office) for management and distribution of all 27,000 REOs has just been built for that company alone. My daughter is the supervisor and will be hiring 300 asset managers to handle roughly 300 listings each. There is also a system in place that sole job is to get brokers all over the U.S on board and ready for their use. So basically the asset manager assigns a property to the closest broker and then the tasks start pouring out until the home sells and everyone profits.
:lolabove:
Beach Lover
#80
Whatever, Sheep......Are you sure you're a SHEEP and not an ASS?

So all knowing and negative in your posts. Why is that necessary?

A bit of an "old boys club" ...this realtor group, with lots of pats on the

backs to blogging male counterparts. Some very useful posts by those

who really are trying to help others so I'll just pretend you don't exist.
SHELLY avatar
SoWal Insider
#81
Whatever, Sheep......Are you sure you're a SHEEP and not an ASS?

So all knowing and negative in your posts. Why is that necessary?

A bit of an "old boys club" ...this realtor group, with lots of pats on the

backs to blogging male counterparts. Some very useful posts by those

who really are trying to help others so I'll just pretend you don't exist.

CO,

I thought your post about the workings of the REO sales was incredibly interesting...please post updates as you get more details.

Thanx,
Shel.

.
TheSheep avatar
Beach Fanatic
#82
Whatever, Sheep......Are you sure you're a SHEEP and not an ASS? So all knowing and negative in your posts. Why is that necessary? A bit of an "old boys club" ...this realtor group, with lots of pats on the backs to blogging male counterparts. Some very useful posts by those
who really are trying to help others so I'll just pretend you don't exist.
Excellent idea. Much better than the fantasy that there will be "profits for all" in this tsunami of REOs, Asset Managers who haven't a clue and Realtors who will get hit for expenses, reports and they're mainly a part-time group to begin with. The model is a joke regardless of how much time anyone has spent in it.

Of course, this is my fault.
Beach Lover
#83
To the Sheep

You are tiresome in your hopelessness and attempts to undermine what could otherwise be fun

blogging....such persistant negativism. You have some interesting thoughts to share at times (despite a disorganized and I would say "odd" thought process) and

then your meanness/narcissism breaks through. Do you not see this?

I'm going back to pretending you don't exist so feel free to get the last line in.
Joe Mammy avatar
Beach Lover
#84
There is also a system in place that sole job is to get brokers all over the U.S on board and ready for their use. So basically the asset manager assigns a property to the closest broker and then the tasks start pouring out until the home sells and everyone profits.

Can you expand on this? Maybe a link?

Could you be referring to Asset Link?
Beach Lover
#85
Will ask my daughter when I see her later and get back to you on a link.
Beach Lover
#86
Can you expand on this? Maybe a link?

Could you be referring to Asset Link?


JUST SENT YOU A PM...(I think...kinda new to the PM thing).
TheSheep avatar
Beach Fanatic
#87
You are tiresome in your hopelessness and attempts to undermine what could otherwise be fun. blogging....such persistant negativism. You have some interesting thoughts to share at times (despite a disorganized and I would say "odd" thought process) and then your meanness/narcissism breaks through. Do you not see this? I'm going back to pretending you don't exist so feel free to get the last line in.
This is a forum for thought-counterthought, no? If you want no further comment might I suggest that you simply do not yourself. :angry:

Rather than useless psychological assessments, why not explain how you could possibly expect untrained Realtors to clean up gobs of thousands of distraught properties, still overvalued in a falling marketplace upside down debt to equity through a branch of this here US Gummint! :yikes: Speaking only of the Countrywide countrywide fiasco here mind you. No BOA, no IndyMac, no, no, no. :blink:

Want hopelessness, best not be the first Realtor who has to deal with most of the problems of these REOS to find you get dumped when the Asset Manager can't make his numbers. All for naught, since you will be facing a near impossible sell working with AM's who typically handle 150 properties, case load now doubled. My, won't they be fun to contact. NOT!

Excuse me for my narcisstic orders as I drop that here pearl of wisdom above on the SoCal community.:bang:
AAbsolute avatar
Banned
#88
Sorry I'm late in getting back...knee deep in wedding planning for daughter #2 with a 3 month
notice. Per daughter #1...she's overworked and exhausted but relayed the following.
The structure of how they are going to do this in simple terms is basically this. 1. Portal (virtual office) for management and distribution of all 27,000 REOs has just been built for that company alone. My daughter is the supervisor and will be hiring 300 asset managers to handle roughly 300 listings each. There is also a system in place that sole job is to get brokers all over the U.S on board and ready for their use. So basically the asset manager assigns a property to the closest broker and then the tasks start pouring out until the home sells and everyone profits.

Did I understand the thesis? The FDIC has the REO's and has hired a contractor to liquidate same? Who approves the contract offers? Thanx
Beach Lover
#89
Did I understand the thesis? The FDIC has the REO's and has hired a contractor to liquidate same? Who approves the contract offers? Thanx

Sorry AA. Clearly I am not a realtor nor do I know much about the whole REO/foreclosure
business other than my own recent experience and picking my daughter's brain.
Daughter's brain is tired of being "picked" by me...so am going to have to defer to others
who might have answers to your questions. The group she works with is out of DC and VA...
a young, savvy group of bright young techie grads with alot of out of the box thinking and
a willingness to take risks and THINK BIG.
Anything I have shared is about it for now. :wave:
AAbsolute avatar
Banned
#90
Sounds intriguing. Do you know what they call their firm?
Beach Lover
#93
What is a lien in the foreclosure process? One that has been filed with the county stating the grantor is a homeowner's association and the grantee is the owners who moved out already?
traderx avatar
Beach Fanatic
#94
Is there a public website that shows individual sold properties?
30ashopper avatar
SoWal Insider
#95
What is a lien in the foreclosure process? One that has been filed with the county stating the grantor is a homeowner's association and the grantee is the owners who moved out already?

Nothing other than a small speed bump in the processing a foreclosure. Foreclosures are initiated by a Lis Pendens filing with the county, which is different from a lien. A lien post a Lis Pen requires a refile of the Lis Pen, and slows down the final arbitration before auction, as lien holders are given time to file their own grievances.

Homeowners don't necessarily need to have moved out during the entire process, they can continue to live in the property right up until the point of auction.

Edited

Beach Lover
#96
Thanks 30ashopper!
Can you elaborate on why its a speed bump and why the lis pen has to be refiled?
TheSheep avatar
Beach Fanatic
#97
Thanks 30ashopper!
Can you elaborate on why its a speed bump and why the lis pen has to be refiled?
Apparently, 30a decided to partake of the weekend pleasure. The Ram has had his way with me :blush: so I shall give this very complicated matter an attention.

A Lis Pendens is a public notice that the Defendant is a non-paying slacker and the Plaintiff wishes to leap forward, first in line, to fleece said slacker. Liens following a lis pends filing need to be leapfrogged over to keep the Plaintiff's position in the fleecing.

Lis Pends hack up quiet title, they put properties into a near unmortgagable, nontransferable state of affair. Liens have a tendency to unhook the Plaintiff's main purpose which is to mess with said slacker's clear interest in the property and protect his superior interest in it.

In the ole days, when sheep were sheep and men loved sheep :blink:, there were gun duels and Jim Bowie knifings instead of the insanity of English based common law.

Things were more fun then. :yikes:
AAbsolute avatar
Banned
#98
Ahhh, how I long for he good ol' days.
InletBchDweller avatar
SoWal Insider
#99
Ahhh, how I long for he good ol' days.

Watch out, Shelly is going to get you!!:biggrin:

As far as good ole days. We were in SoWal this weekend for the first time in a few months. We loved it- but when talking to people that still lived in the area that had something to do with housing (Agents, builders, subs, title agents, banks) it was all just depressing. Many people's lives are so seriously affected from all of this. It saddens me.
AAbsolute avatar
Banned
#101
Watch out, Shelly is going to get you!!:biggrin:

As far as good ole days. We were in SoWal this weekend for the first time in a few months. We loved it- but when talking to people that still lived in the area that had something to do with housing (Agents, builders, subs, title agents, banks) it was all just depressing. Many people's lives are so seriously affected from all of this. It saddens me.

I was talking about the good ole' days where you could confront a party and work out your differences on the spot.

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