Green Real Estate Architecture

By Lauren A Roberts

The real estate market is vast and there are many niches that agents can opt to specialize in to hone their desired clientele. Of course, no agent can hope to cover all fields of real estate, so it pays to focus on one or two specific areas. One area that has become more common in the real estate market today is REO real estate. These homes are past short sale, past foreclosure and are now owned by the bank. This niche has its own nuances and if you find you have a passion for this practice area, you can build a rewarding business serving a select group of buyers, no matter the current economy. Let’s review the basics, shall we?

What exactly is REO real estate?

REO stands for “real estate owned.” This happens when a property goes into foreclosure and the mortgage company is unsuccessful in selling it at an auction. When this occurs, the property then belongs to the bank and the task of selling the home falls to the bank and its chosen representatives.

How do you buy REO property?

The process is similar to buying a home from a private party. It is listed, just like any other property on the market. There is also an REO agent representing the property for the bank too. If you have questions about the property, you can contact the agent and they will gladly answer them. Ultimately, you are buying the property from the bank, so there will be extra paperwork and the process is longer than buying from a private party, so be prepared to have some extra patience.

What condition will the property be in?

This is largely subject to the previous tenants of the home. REO homes vary in their condition and the description of the home will more than likely tell you if the property will require some rehab. As a general rule, if you find that the pictures that accompany the listing don’t properly show enough of the home, you can request the status of the property from the listing agent and even schedule a showing. However, just because a home is owned by the bank does not mean that it will be in bad condition. Due to the number of agents that specialize in bank owned homes, many of the properties are well-maintained, stocked with appliances and freshened up, leaving you with much less work than you anticipated, which is always a good thing.

If you find yourself wanting to specialize in REO listings, it might be a good idea to seek out a mentor in the industry. Following the footsteps and best practices of a seasoned REO agent can show you the true inside aspect of the entire REO process, and who wouldn’t benefit from some inside industry information? Take the time to learn and in return, you’ll find yourself better able to service buyers and the banks alike, which is simply good business in the long run.

Lauren Roberts is an REO industry veteran and the founder of REO Maestro. Founded in 2001, Lauren’s objectives and approach were very deliberate: to aggressively broaden the talents of her REO agent team by combining their expertise with systemic tracking, reporting, organization and automation. She partnered with Shupe Software Technologies whose progressive approach to software development naturally and seamlessly complimented Roberts’ vast industry expertise. Inspired by overwhelming industry and peer demand, Roberts and Shupe Tech successfully launched REO Maestro to REO professionals nationwide. In 2010, the company changed its name to Realis as they welcomed even more advanced technologies to their product offering.

By Melissa Lane

It is always a great choice to look for houses for sale in San Diego because of several reasons. First, if you will reside in the place, you will always want to look around because of the spectacular views. Next, there is a little chance that you will get bored because there are some outdoor and recreational activities offered. Another reason is the perfect climate, not so hot and not so cold, and several more reasons.

Now, the prices of the houses for sale in San Diego vary greatly depending on the location. Let us try to compare the houses for sale in El Cajon and in Del Mar. These are places in San Diego that are 20 miles apart.

Del Mar

If you would like to live in total luxury, then Del Mar is the perfect place for you. This is a coastal affluent area, and most of the luxurious houses in San Diego are located on coastal areas. In here, you can experience their golf courses and some water sports which can be exciting and enjoyable on your part. However, because of the luxury of life offered here, the price of the houses is somewhat expensive. You must have millions of dollars so that you can have a home in this place.

El Cajon

“The box” is the meaning of this word, and inside this little box is a real beauty. It is away from the ocean, it is more of a valley. Beautiful mountains are surrounding it, and this can offer the true cowboy feeling.

Basically, as compared to houses in the coastal areas like Del Mar, the houses in El Cajon are less expensive and much more affordable for the average person. You will not spend millions of dollars here; you can only spend around $600,000 or more. However, if you would like top end housing, you must have $2.5 million. This is already expensive, but it is too little when compared to those houses for sale along the coastal areas.

So, as you can see, with the description given above, it seems that one place is for the rich and the other one is for the poor, because of the prices of homes. However, even if that is the case, each place has its own area to be proud of. El Cajon, even with its more affordable homes, offers places that one has to see in his life. The same is true with Delmar. The two places actually offer an attractive way of living and this makes the houses for sale in San Diego a popular choice for people.

You want the truth?

The truth is that once you see the list of houses for sale, you will be tempted to buy one. One of the houses can be your dream house, and it is really hard to resist the desire to live in it. Moreover, whatever the style of house that you like, you could still find it as there are several options here. So, whenever you have the money and you want a home, do not miss to look at the list of houses for sale in San Diego, and you will enjoy the rest of your life.