Ok, I am about to vent so, if you don’t want to hear an angry rant about how I feel, it’s best you stop reading now and move on!
I have this short sale, since January and it’s in poor condition. For example, pipe burst in ceiling, sever mold, exposed sub-flooring through 75% of home, torn wall paper, huge holes in walls, missing fixtures, standing water in crawl space, etc….get the idea? It’s in poor condition and my contractor estimated 30k ($30,000.00) in repairs to make it livable!
Since it has been on the market, I have received approximately 10 or so offers, all of which were below $70K except one which was $89,900.00. The bank countered or rejected all offers (all these offers came in the first 2 months)! Surprised and perplexed I asked why and I was told because the appraisal came in at $110,000.00 and that is what they expect to get. So, 2 months turns into 6 and, no offers. In the meantime, I have provided a CMA / BPO showing these freaks, the home is worth 60k at best! THEY AREN’T LISTENING TO ME!
So, the negotiator says, we can now order a new appraisal. Excited, I meet the appraiser out there and show him my BPO, show him my comps, show him my search criteria, show him the feedback comments of the agents who have shown the home, which are months old because no one has shown the home in months.
A week later, I get the appraisal from the negotiator and it’s $100,000.00! 10k less than the original (UGH!) So, I have it listed at $100,000.00 now and not a single showing / offer, what is it going to take!
I asked if I can rebut the appraisal, sure….so I send my rebuttal in and I am told, none of these homes are adequate because they aren’t like homes. I am tripping because my comps are from the neighborhood and less than a quarter mile from the subject property! These are tract homes by the same builder…..why wouldn’t they be similar? I looked at the appraiser’s comps and they aren’t even in the same neighborhood!!!!!!!!!!
So, I asked, can we get our own appraisal, they say yes so, we are now on the hunt for an appraiser. I will keep this blog up to date, I am sure you will love to know where I go with this one.
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A couple of months ago I received an reo listing from an asset management company that sometimes sends me listings, not many, but hey every little bit helps. They ordered the CFK, and although I am usually succesful with cfks, in this case the homeowner did not agree to it. She was receiving advice from an attorney/friend that told her to stay in the house. After a while, as it happens, I was notified of the lock out date. The family was already gone on the lockout date, but they had destroyed the property. Among many other things, they took of all the electric outlet covers throughout the house and left the wires exposed. The house has illegal additions, code violations, an empty pool, electric issues, they broke walls, took all appliances, Central A/C, etc. Since I am very familiar with the way this particular city works, I sent in a document attached to the bpo explaining everything and advising what needed to be done before the house started showing to avoid problems with the city. Needless to say they sent my bpo back 3 times because the appraissal came in at a higher value. Of course the appraisser was not using reo comps with similar illegal additions and/or conversions. He failed to mention that probably more than half the house would have to be demolished because it was done without permits. Finally my price is approved and the property goes on the market, I go back to the property before listing it on the mls to make sure it was ready to be showed. When I get there, I find the only thing done was the trash out and they caped the exposed wires. I again write to the am and send pics, since they have their own preservation co to do everything, they've decided that was all they were going to do to sell the property as is. Ok, well I dont want to be a pain...To make a long story short, the house has been on the market for less than a week and somehow the city already heard about this beauty and went there today (without even notifying me) I don't know how they got in. They later faxed a 2 page long violation to my office listing everything they could think of and they want it fixed yesterday. Now for the plastic cover plates that I recommended to put on all the electric outlets just to make it look decent we have to hire an electrician, pull permits and pay fines!!! They are going to make my life miserable and hold up the sale for months and many of this problems could have been avoided by just doing some minor work in the house, not only to avoid problems with the city, but also for safety issues. Now even the mosquitoes in the neighborhood are coming from inside this house. LOL. I could only laugh when I saw what they were hitting us with. I love my job, I work very long hours, try to stay optimistic in all situations and will go the extra mile to get issues resolved and close the deal. This one will close, I know that, but Im going to have to move into the city office until everything is done the way they want it and they take pity on me or get tired of having me around. Oh... and drain my pockets while I wait for reimbursement.
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I am proud to announce that REOPro’s Google page rank is now up to 2. If you don’t know why that is important, let me explain.
A Google page rank is a number that represent just how important your page is on the web. The more important you are, the more likely you will appear at the top of searches using keywords that describe your page.
In other words, if someone does a Google search for “REOPro”, the more likely our page will appear at the top of the results that come up with a higher page rank. In fact, right now, we are number 8 out of 84,200 results with a current page rank of 2…that’s great!
Now this is true with all our keywords, granted, none of them are as high as REOPro but, the higher our page rank, the more likely all those other keywords will start bubbling to the top.
Keep in mind, those of you who blog regularly……the more appearances on the main page, the more likely keywords in your blogs will be ranked as well. For example, if you search “Jesse Gonzalez” you will get 2,800,000.00 results of which, I am in the 6th, 7th, 8th, and 10th slots, putting me in 4 of the top 10. If we change the keyword just a bit and type “Jesse Gonzalez REO” then I appear in the top 9 spots out of 163,000 results, not bad. The best part is, almost all of those 9 spots are my blogs. Do you get the idea?
So, what can you do to help you improve your page rank as well as help out REOPro’s page rank?
Linking is one of the most important things you can do to raise your page rank. Google calculates that if your page is important enough to have someone link to it, then that means something. So, if you haven’t put our REOPro badge on your main page of your website, you need to do so. Links and back links to industry related sites are the key to obtaining a high Page Rank.
Thanks again all and good luck. I look forward to seeing those link request coming in.
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