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Michael J Kelly,CDPE,CIPS,CRS,SRES, Real Estate Professional in Santa Rosa, CA

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Michael J Kelly,CDPE,CIPS,CRS,SRES

702 Helpful Answers
749 Answers
24 Blog posts

Agent at Keller Williams Realty

Locations:

Santa Rosa

Web sites:

Mike Kelly's Real Estate Blog, Buying and Selling Tips, mikekelly.com

Profile Link:

http://www.trulia.com/profile/mikekellycips/

Overview

Q&A (767)

Resume

Blog

Resume »

Experience:

Sr. Sales Consultant for Keller Williams Realty October 2007—present
Got my license in 1978. Took the test twice. First time studying my butt off but missed…

Sr. Sales Consultant for RE/MAX Central Santa Rosa January 1996—March 2007
Joined Keller Williams Realty as they were looking for what they described as a "Icon"…

Specialties:

I work with "Country Property" Buyers , REO (Real Estate Owned) properties, “Empty nesters who wish to downsize their living area but NOT THEIR LIFE! I work with "Country Property" Buyers , REO (Real Estate Owned) properties, “Empty nesters who wish to downsize their living area but NOT THEIR LIFE! And represent INVESTORs in the selling and purchasing of assetts in their portfolio.
The REO work is called Asset Management and I believe my duty to my client, the bank/lender, is the present their property to the community in the best light possible
By having a Realtor represent you in the purchase of these REO properties who also knows the ways and thought process of the lender and Asset Manager, can add big dividends to your real estate transaction. I know how to properly put together the "perfect" offer to the OTHER REO agent and more importantly to his/her support staff. That is why my Buyer Specialists are perfect agent's to work with when you seek to buy a property in the post-foreclosure arena.
I also work with "Country Property" Buyers having been a member for years in the Realtor's Land Institute. The issues associated with buying either bare land or a home on larger acreage with septic and well is a specialty not for the average single family residence type agent. This particular transaction comes with a host of challenges not for the faint of heart or the average agent!! From identifying property lines, understanding the workings of a septic system, the function of a well, right to farm ordinances, endangered species acts plus a litany of other items make this a fun, fascinating niche in the real estate worldd keep potential clients from working with him or her.
I quickly will take an REO immediately attempting to stave off any negatives the property now has in the neighborhood. We do this by having our clean-up crew get to the property and revitalize the home, secure it from any local vandals and soften its impact on those long-suffering neighbors. Once we do this we will gradually bring the property to market by fix-up, clean-out and whatever the bank feels, upon my advice, the home will need to fetch top dollar in the least amount of time to the owner.
If my name goes on a property then I want it to represent not only my own way of doing business, but that of my company Keller Williams Realty. You might see me out there pulling weeds, picking up debris and in general making sure all work is done to MY standards within the confines of the owner's funding. ... show more

Certifications
& Awards:

I was named 2008 "Realtor of the Year" by the Santa Rosa Chapter of Realtors which follows up my 2005 award of the same name. Through my 30+ years in the ... show more

Interests:

I love fly-fishing but am woefully "under-fished" as they say! I desperately ... show more

About:

MISSION STATEMENT and PERSONAL PHILOSOPHY
"I believe I operate like other quality professionals who serve your accounting, medical, and legal needs. ... show more

Testimonials:

"Though this is a delayed letter, it’s tardiness does not diminish our gratitude for your consistently professional and helpful service.
From the ... show more

Recent Q&A »

Question removed

Asked Sat Nov 21 2009, 18:49 by Kate Mulligan - Property Q&A in Santa Rosa - 5 answers

Michael J Kelly,CDPE,CIPS,CRS,SRES answered:

As an REO agent we have our agent Broker Price Opinion (BPO)"verified" by a formal appraisal ordered by the Seller. This happens when we work one of the "major" lenders. We've also sold assets through a "third party" liquidation service and they use our BPO but have a senior reviewer on staff who ask very pertinent questions on the BPO. Our BPO's are not the usual $50 to $70.00 BPO ordered by third parties trying to give the lender of record an idea of value. I find those BPO's virtually worthless and suspect for reasons I would not like to go into here.
Once the property is placed on the market we must do a BPO every 30 days (this is for a major bank). However, other Asset Managment companies have varying levels of verification and performance monitoring. The REO market and the agents who work it differ greatly. The "major lenders" and their peer banks have very strict guidelines. The other companies and asset managers are a different breed. So do we get an appraisal BEFORE it hits the MLS? YES and NO! - Sat Nov 21 2009, 22:18

Recent Blogs »

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New comment posted Wed Oct 28 2009, 15:57 by David Pittman
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"Sonoma County Sales for September! REO Sales DOWN 47% over Last Year!"

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