Home Buying in 95826>Question Details

Mefisto666, Home Buyer in Sacramento County, CA

good REO realtor in sacramento?

Asked by Mefisto666, Sacramento County, CA Fri Oct 14, 2011

we are looking to buy a house and are contemplating buying an REO since they are cheaper and are willing to take the risk. the problem is I can't seem to find a realtor that specializes or has lots of experience with REO's. can anyone recommend one?

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You should not just focus on foreclosures if you want the best deal. A lot of time you can get a better deal from a normal sale. Never just focus on a segment of the market. What you need do is find a Realtor who is very knowledgeable in the area you want to live. Also, they should give a complete market analyst of the area and property you are looking at. You need an agent that will give you the correct information.

If you would like I could either help you or refer you to an agent that understands the market area you desire.

Thank you,

Jamie Collins
Connect Realty
DRE #01014820
1 vote Thank Flag Link Fri Oct 14, 2011
I have represented buyers on several REO properties in Sacramento. You can contact me any time if you'd like to discuss it more, and make sure to visit my blog.
Web Reference: http://www.lisajonsson.com
0 votes Thank Flag Link Sat Oct 15, 2011
All the answer are good , however working with an agent , that also have investor knowledge will also help, because of the repairs, they are buying a lot of REO and foreclosure cheap and rehabbing them for rental s or putting back on market.
Web Reference: http://info4homeowners.com
0 votes Thank Flag Link Fri Oct 14, 2011
Reo's can be way worse deals! They can be huge money pits, and are homes you buy without any disclosure of condition of the property from the seller. So you are responsible for umpteen inspections to be sure the home is up to your living standards.
Additionally, every seller wants to sell at MARKET VALUE. If a Comparable Market Analysis on a home, or a BPO (which is built from a market analysis) shows the home is worth X-dollars, then a short sale, regular sale AND REO is going to be priced accordingly.
Find an agent who is knowledgeable in the market, we have all sold REO's. Sacto is only about 15% REO ( Sac County proper, and SFR's--figure does not include condos), about %65 Short sale, and the rest regular sales.
Sounds to me like you need a Realtor who can REALLY HELP you!
Web Reference: http://www.kyleeroe.com
0 votes Thank Flag Link Fri Oct 14, 2011
Since a large % of the inventory sold in Sacramento County has been REO's, most agents have some experience, some more than others of course. Interview at least a couple of agents, to make sure that they mesh with your expectations of what you want an agent to be (do) for you. Start with some of the recommendations offered here.

Good luck in your search, don't just limit yourself to REO's, sometimes there can be great buys in regular sales too.
0 votes Thank Flag Link Fri Oct 14, 2011
I concur with Jamie Collins.

The concept that REO's are cheaper is a longstanding urban myth. Sometimes they are cheaper, sometimes not. Sometimes the probate sale is cheaper, sometimes the short sale is cheaper, sometimes the traditional seller competing with distressed sellers is cheaper. Look at the entirety of the deal, not just one aspect of its origin.

The other misconception is that an agent with foreclosure experience is a rare creature. Six years ago that was the case. After five years of heavy foreclosure activity in this market the majority of active agents are well versed in the subject.
0 votes Thank Flag Link Fri Oct 14, 2011
Jim Walker, Real Estate Pro in Carmichael, CA
Try this website (See Below).
Web Reference: http://www.sacreopro.com
0 votes Thank Flag Link Fri Oct 14, 2011

I have been a buyers agent for an REO team for 3 years. I also work with multiple banks performing BPO's (Broker Price Opinions), on a daily basis. BPO's are how foreclosing banks price homes a few weeks before they actually come on the market.

If you just have questions or need help in any way, feel free to contact me.
0 votes Thank Flag Link Fri Oct 14, 2011
I have been a part of over 1300 REO sales since 2007. Our group currently manages around 100 REOs at a time from properties that are not listed to active/pending sales. I would be glad to discuss the process so you are educated and help you find an REO.

AJ Powers
916 601 4728
Certified Distressed Property Expert
0 votes Thank Flag Link Fri Oct 14, 2011
As the Northern California Master Broker for NRBA (National REO Brokers Association) I would encourage you to use the database at http://www.NRBA.com, these are qualified and experienced REO Brokers.

That being said and as an REO Broker for many years, you will find many REO Brokers are representing their clients as they are established clients. I firmly believe you are better served finding an experienced BUYERS AGENT who has experience with REO properties. Many of us REO Brokers will not "double end" a property. Anytime you are involved in a doubled ended transactions one of the sides will lose.

So I believe you are better served finding a good experience buyers agent

Best of luck

Bruce Slaton
eCurb Realty Lic # 01305148
Web Reference: http://www.eCurbRealty.com
0 votes Thank Flag Link Fri Oct 14, 2011
I highly recommend Linda Swanson at 916 607 0111 or Barbara Dow at 916 761 7398. Both extremely experienced in dealing with not only REOs / bank owned properties but short sales, too. They love to work with buyers. Two very awesome agents.

Elizabeth Weintraub
Broker-Associate #00697006
Lyon Real Estate
0 votes Thank Flag Link Fri Oct 14, 2011
Please contact me, Ron Ortez, 916-930-1900. I can forward recent buyer references of their experience working with me on both REO and Short Sale purchases.
0 votes Thank Flag Link Fri Oct 14, 2011
I am an active REO agent and have helped many buyers purchase REOs from homebuyers to investors. I would be happy to assist you in any way.
Web Reference: http://www.jonbarnato.com
0 votes Thank Flag Link Fri Oct 14, 2011
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