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  • Real Estate Glossary of REO Foreclosure Terms

    Real Estate Glossary of REO Foreclosure Terms

    If you are a Real Estate Professional, you have probably found yourself stumped when your Asset Manager tasks you to do something that is completely baffling! What does that mean? I once got this message, which prompted this post. The message was as follows. I actually printed it out for kicks. "NYO b4 CFK, might be na. If the EV Att has to do a pp ev, we will be out 15 days in or, right?" Now, I could muddle my way through this message, but I wondered how an agent would feel if this was their first REO listing. I could almost feel the blood pumping in my ears when I tried to imagine how I would feel if I could not understand this person I was trying to impress. A Acceptance- A buyer's or seller's agreement to enter into a contract and be bound by the terms of the offer. Adjustable Rate Mortgage (ARM)- Adjustable Rate Mortgage, also referred to as a Variable Rate Mortgage. They both mean the same thing. An ARM is a mortgage with an interest rate that adjusts periodically to reflect changes in market conditions. Your mortgage payments are adjusted up or down (usually on an annual basis) as the interest rate changes. Adverse Possession - a means of acquiring title to real estate where an occupant has been in actual, open, notorious, exclusive and continuous occupancy of property for the period required by state law. Appraisal - An opinion of value conducted by a licensed appraiser. Values are determined by one of three methods. Comparable sales(residential), replacement cost (inisurance), or income approach (commercial). Appraised Value - The dollar figure for a property's estimated fair market value, based on an appraiser's knowledge, experience, and ****ysis of the property and comparable properties near by. Appraiser - A person qualified by education, trainin...
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  • Definition of a Broker Price Opinoin BPO

    Definition of a Broker Price Opinoin BPO

    BPO Acronym stands for Broker Price Opinion. A Broker Price Opinion can be used for a host of reasons, and is performed by a local real estate agent who is familiar with the real estate marketplace. It is not a formal appraisal. An appraisal is performed by a licensed appraiser who has done extensive training in assessing market value. A borrowers bank may pay for a Broker Price Opinion in the following situations: a. To consider a short sale offer, or to consider short selling as a whole. b. To consider a loan m...
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    Last edited by Kim Knox; 02-26-2018, 12:57 PM.

  • Sellers Looking for a Realtor, who to select as YOUR Agent!

    Sellers Looking for a Realtor, who to select as YOUR Agent!

    What makes an exceptional listing Realtor? You might be considering selling your home and wondering which firm or which agent to select to represent your sale. Your up against a few obstacles in this decision, I want to help. The number ONE thing to consider is if the agent is if YOU feel comfortable with the agent you are interviewing? Can you hav...
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    Last edited by Kim Knox; 02-23-2018, 01:14 PM.

  • Well Water. What Realtors Need to Know!

    Well Water. What Realtors Need to Know!

    Wells are a regular part of transactions in rural Oregon. Here is a list of conditions and recommended testing, for your info. We have all looked turned on a faucet and suddenly been overtaken with an unwelcome smell. The go-to answer is to have a water quality test that includes all of the below. In my area, it costs around $250.00 to have the water collected by a licensed party and sent off to the lab. It usually ...
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    Last edited by Kim Knox; 02-23-2018, 01:18 PM.

  • Soliciting Probate Listings

    Soliciting Probate Listings

    Probate is a legal process that the court oversees the estate of a deceased person to make sure the debts are paid the the estate is distributed to the heirs. Probate comes into play regardless if the deceased has a will, or doesn't have a will....
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    Last edited by Kim Knox; 02-23-2018, 01:16 PM.

  • Advantages of Getting a License for Real Estate Investment

    Advantages of Getting a License for Real Estate Investment

    This is my new post for a U.S. Real Estate Licensing School Blog.

    Advantages of Getting a License for Real Estate Investment

    Let me know what you think about it here.

    Steven Rich, MBA

    Many real estate...
    Are you a real estate investor? This article outlines the many incentives for taking the extra time and expense to get a license for real estate investment.
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    Last edited by Kim Knox; 02-23-2018, 01:57 PM.

  • Government Foreclosure Programs to help homeowners

    Government Foreclosure Programs to help homeowners



    Government Foreclosure Programs to Help Homeowners

    Options to avoid Foreclosure. Options to avoid Short Selling.


    HAFA, HAMP, HARP, oh my! You might think they are all the same thing, but they are unique programs that can an alternative to short selling or foreclosure.

    Home Affordable Foreclosure Alternatives (HAFA) Program If your mortgage payment is unaffordable and you are interested in transitioning to more affordable housing, you may be eligible for a short sale or deed-in-lieu of foreclosure throu...
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    Last edited by Kim Knox; 02-23-2018, 01:10 PM.

  • The Highs and Lows of REO

    The Highs and Lows of REO

    Agents that work in REO are a different breed than the normal agent ... a mutation if you will. We live in a different world. I personally love being assigned a property. For me, a property assignment feels like I'm a kid at Christmas! I can't wait to go see the property. It doesn't matter if it's a single-wide full of livestock in the middle of nowhere or a beautiful 2 story in a prestigious neighborhood (although we would all rather market the later). I'm so full of anticipation, excitement, and unadulterated joy, that I have seriously considered brushing my teeth in the car to hurry and get there. I am aware this is my own personal quirk...but as REO agents we all have some! REO is like Forest Gump's box of chocolates ... you never know what you're...
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  • This could be very Helpful - Fannie Aims to Curb Short Sale Woes With New Site

    This could be very Helpful - Fannie Aims to Curb Short Sale Woes With New Site

    Fannie Aims to Curb Short Sale Woes With New Site Following the success of an escalation process initiated in February, Fannie Mae is introducing another website tool to help real estate professionals close short sale transactions. Real estate listing agents will now be asked to register accepted short sale ...
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  • LEAD Based Paint and Real Estate Sales

    LEAD Based Paint and Real Estate Sales

    All houses have the potential for lead contamination. For starters, lead is in the air. The lead in the air falls to the ground and accumulates there. It can then be carried into the house on clothing, tools, shoes, pets, etc. Although not a part of...
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    Last edited by Kim Knox; 12-11-2018, 04:46 PM.
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  • 2019 REO Signup List and Links to Applications
    Kim Knox
    REO Listing Agent Application and Signup Links below, updated in 2019

    What is an REO Listing Agent? An REO listing Agent is an Agent who puts foreclosure listings active on the open market for Asset Managers and Outsourcers who manage assets...
    01-04-2019, 02:30 PM
  • How to get BPO Work FIRST
    Kim Knox
    Now that you have signed up with all of the BPO Companies that offer work, you are probably wondering how to get the BPO work faster than your competition. You want to know how to get the BPO work before others do? This is the key to really making money...
    01-19-2013, 11:30 AM
  • Delivering Bad News To Clients
    Kim Knox
    Delivering Bad News to Clients is a skill that needs to be fine tuned.

    We have all had it happen, when we sit in front of the phone taking some deep belly breaths before picking up the phone to shatter the hopes and dreams of our clients....
    02-23-2018, 12:11 PM
  • Seven Tips For Selling a Home Fast
    Kim Knox
    7 Tips for Selling a Home Fast

    Even if you do not consider yourself an investor, if you own a home, you are in fact, a real estate investor. Upsizing or downsizing your primary residence is actually one of the best (most lucrative) investments
    ...
    02-27-2018, 03:02 PM
  • Relocation Checklist
    Kim Knox
    Relocation Checklist

    Moving, buying and selling can be stressful, so keeping organized is a crucial step in making the process more manageable.

    1. The biggest item of all is buying or selling a house, or both. Chris and Kim...
    10-04-2016, 05:31 PM
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