judyo's Blog: In The Trenches

I have written quite a few offers on foreclosure properties lately.  My buyers have closed on some of them.  I am learning how the different reo brokerages work.  Some communicate but are nasty and curt.  Some only communicate via e-mail and never answer the phone.  Some are actually helpful and it's a pleasure (and surprise) to work with them.  I wish they were all like that!

And then there are those who don't respond at all.  I submitted a cash offer last week on an Oak Lawn home and figured since the listing was with a Coldwell Banker agent I'd get some communication.  After 4 attempts to see if my offer was received, I checked again today and the property was sold.  Not one call or e-mail response.

Can we please have the signed contract? 

I had…

I wrote a blog post about the Lockport townhome seller I sometimes wanted to fire, but didn't.  He was tough to handle.  He told me he used to be a real estate agent but upon many talks with him he also said something about being an appraiser.  I'm not sure what he used to be.

He was loud and seemed to know the market better than I did, no matter how much factual data I sent him.  He did not believe we were truly in a recession.  I quickly learned how to talk to him (you had to agree most of the time but be firm when necessary).

While holding strong to his price for quite some time, he finally realized he had to start reducing.  There were showings but no offers.  At least he started lowering his price after holding out for so long.

I realized when he…

Active Rain is currently giving away points (it was posted that 1000 points would be given for every hyper-local content post made - up to 7000 points - 1 post a day for the next 7 days).  I still post on AR (although I stopped paying attention to points a long time ago) and try to post on both REW and AR as much as I can (I have a list of all of my blogs and go down the list for each post to make sure they're evened out).  Sometimes it comes to once a week, sometimes less. 

I Wrote a Post That I Thought Followed the Recommendation

I posted about Orland Park Homes For Sale Under $200,000.  But I was told I should have dug deeper and posted about a more local and specific neighborhood or subdivision.  In my opinion, that was a niche in itself that would…

I'm saying that a lot lately.  It's sad watching the sellers' faces fall as I show them the reality of today's market.  Just yesterday I had to tell a senior woman whose family wants her to sell (because they fear for her safety in the town she lives in) that her house is probably worth around what she paid for it many, many years ago.  I could see the tears forming in her daughter's eyes and had to listen to the outrage of her son (not aimed at me personally, thank goodness).

The home owner had a mix of jubilance (she didn't want to move) and confusion on how the home she so lovingly cared for could be worth so little.  She lives in a town I don't work in much and only took it on because it was a referral from a friend.  This was a town that was always…

I was very happy to see that Morgan was putting on another REW Summit this year.  After attending last year's gathering I couldn't wait for the next one.  I originally planned to go without thinking twice about it.

However, I had hoped my husband could go on the trip with me and that we could spend a day or two in Seattle and at least one day in Victoria.  But my husband has a heavy schedule with his band in the summer and told me I'd have to go without him.  So I wasn't sure if I wanted to do that again.

Add to that the fact that we purchased a townhouse in Scottsdale, AZ at the beginning of the year and I won't even mention how much we spent on the purchase and furnishing the place.  Not to mention the 3 trips we've already taken and the fact that…

A highly respected tribe leader that had settled in Indiana was upset over a competing tribe member advertising his caves for sale.  He brought his grievance up with his local higher powers named MIBOR.

MIBOR wasn't sure how to interpret these ancient scrolls and they contacted the highest powers that be  called NAR.  Together, they reviewed these ancient scrolls to come to an agreed upon interpretation.

Even though the complaining tribe leader had signed an agreement of reciprocity, he did not understand what that meant.  He did not like sharing his wares with others.  He wanted to be the only tribe allowed to sell his inventory of caves.  Any cave buyers had to come directly to him to purchase his inventory.

Smoke Signals

You see, this…

OK, I'm finally calming down after taking a break to watch the end of Judge Judy and eat a Fiber One version of a Pop Tart.  Ahhh, my blood pressure is coming down.  I was driving this afternoon for what seemed like hours, and I suppose it was close to it - well, at least more than an hour.

I sold a foreclosure located much closer to my home than the listing office.  But I had to hand deliver the earnest money and originals of the contract and the addendums.  I did not have time to Fed Ex them because the buyer was too busy since we got the go ahead that our offer would be accepted and was only able to get certified funds today.

I hate to drive

I had never stepped foot in the town I needed to travel to but I did kind of know where it was.  And I knew…

I've had a seller for quite some time that finally got an offer on his Lockport townhouse for sale.  The original offer was within $10,000 of his new, lower list price.  Not bad in today's market.  But I couldn't get him to budge from his asking price.

After much chiding from the buyer's agent, I kept my cool and told him that my seller feels he can get full price, maybe not today, but soon.  The agent came back with an offer only $5,000 off list price.  My seller would still not budge.

My seller used to be a real estate agent

I have dealt with many ex-agents over the years and they know enough to be dangerous.  When I requested him to initial the area on the contract that states he was rejecting the offer, he got angry and told me that isn't…