Looking for an REO agent that can help us find a home in 92129 area in the range of 400k.

Asked by Highficainsd, Rancho Penasquitos, San Diego, CA Fri Sep 18, 2009

We have high FICA scores, pre-approved for conventional loan, have 20% down and are non contingent. My wife is a beginner realtor but we are willing to go with someone else if it betters are chances of buying a home.

Help the community by answering this question:

+ web reference
Web reference:

Answers

11
Cindy Davis, Agent, San Diego, CA
Fri Mar 23, 2012
This is possible, especially with 20% down. The real catch is what your expectations are for that home. The inventory in Rancho Penasquitos at that price is often distressed, older, and needing updates.

As to whether to use your wife or another Realtor - that's a personal decision. I will pay a referral fee when working with a licensed Realtor. You are likely to be dealing with short sales or foreclosures in this price that garner multiple offers. There are some tricks of the trade your wife may or may not have learned in winning a multiple bid scenario.

Feel free to contact me should you wish to discuss this!
0 votes
Janet McCart…, Agent, San Diego, CA
Thu Mar 22, 2012
Currently, there are ten houses between $352,000 - $437,500. Four are bank owned and four are short sales. You are well positioned to get a good deal because you have high FICA scores, are pre-approved and have 20% down now you just need to get connected with an agent who will work to find a great deal and knows the area. I live in PQ and know the area very well.
I check all the listings and I didn't see anything that was really interesting. Houses back up to busy streets, poor condition, etc...
This is the time of year when more houses go on the market so I would get connected with a buyers agent and she will be scouting all the new listings.
By the way, REO's aren't always the best deal - banks can be demanding and you often end up paying for termite repairs and have to take the houses AS IS. I would encourage you to be open to anything that meets your needs and then work the deal.
0 votes
Kucan & Clark…, Both Buyer And Seller, San Diego County, CA
Sat Oct 23, 2010
Hello,
We are Short sale investors that negotiate and purchase short sales at a discount with our cash.
We then can offer the home to buyers at or below REO prices. All of our available homes are free and clear, not a short sale or REO's BUT priced like them. We currently have 1 property in our inventory that is in 92129. Being that I also live in 92129, I know this area like the back of my hand and this is an awesome buy at $425K.
We are very experienced with buyers as well and will make the buying process easy for you.

Click here to see the property in PQ.... http://kucanandclark.com/propertydetails.aspx?id=1833623

Please let me know if we can help you.

Best Regards,
Darrell Kucan - CEO
Kucan & Clark Partners, LLC
800-77-HOW-TO
http://www.SDShortSale.com
http://www.KucanandClark.com
http://www.ShortSale-Experts.com - For Realtors
0 votes
Seth Chalnick, Agent, Cardiff, CA
Fri Sep 18, 2009
Hi Highficainsd,

Believe it or not, the "finding the house" part is actually the easiest part of the deal. It’s the "what to do next" part that you and your wife can use help with.

As an agent, she might consider offering another agent or broker a 75% referral split, so she can keep 25% in her pocket. Her broker would have to approve it of course, but this would be a great opportunity to shadow another agent to get some invaluable experience. In exchange for the 25% she keeps, she could agree to do more of the groundwork than a typical client.

Now, if the "finding the house" part seems more difficult than you thought it would be... you’re not alone. The most successful, seasoned agents are having a challenge finding good inventory these days because the government and banks have been working together to artificially limit supply. Word is, this problem should be easing over the next few months, but yep, its slim pickins these days.

Speak soon :)

sc
Web Reference:  http://www.SethChalnick.com
0 votes
Dusty Brazil, Agent, Del Mar, CA
Fri Sep 18, 2009
Best Deals for you are:

9520 Bayamon Road - been 8 days REO- townhome listed at 364,900 Fannie Mae Owned
15582 Paseo Ajanta- been 56 days REO, detached home- fixer, 365 K, need to prequal with their preferred lender
9536 Bayamon Rd- been 8 days REO, $414,315

http://www.DustyBrazil.com
760 207 7245
Web Reference:  http://www.DustyBrazil.com
0 votes
AvidAgents, Agent, San Diego, CA
Fri Sep 18, 2009
One of the most important things about making an offer on a REO property is making sure you follow the banks "offer guidelines". Each bank requires different things within the contract and in many cases when there are multiple offers the listing agent will not inform you or your agent of the problems within your offer. They will just submit the offer as written and the bank typically will then only look only at properly formatted offers.

Since your wife is also an agent I can offer you a commission share and walk her through the process from making an offer to closing. I have been working in San Diego for over 10 years.

Thanks
Greg Godwin
1-800-GET-GREG
0 votes
Marcie Sands, Agent, Poway, CA
Fri Sep 18, 2009
Highficanisd,

The price point you are looking at in Rancho Penasquitos is VERY competitive. I suggest you work exclusively with one BUYER'S agent who can get you the information necessary to make educated decisions, write up strong offers and present them quickly. You will need to be prepared to make multiple offers in this market. Many of the Trulia agents would be happy to help you.

Kind Regards,

Marcie Sands, REALTOR
SImply The Best Real Estate Company, Inc.
Rancho Bernardo
760-644-1562
0 votes
Dusty Brazil, Agent, Del Mar, CA
Fri Sep 18, 2009
Like I said, I am a speedy guy, which is what you'd need to get into one of these bargains out there. So, I made a link for you to browse for now which will have any REO in PQ from 180-600K min 2 bed. http://tempo5.sandicor.com/Pub/EmailView.asp?r=575803949&…

Any questions, give me a call

Cheers!
http://www.DustyBrazil.com
0 votes
Ellen Hayes, , San Diego County, CA
Fri Sep 18, 2009
Does your wife know someone in her office that has a lot of experience? You'll need that experience due to the extreme challenges buyers are facing right now in this market, which is probably why you are looking for someone. . I have an ABR designation with 20 years experience near you.... sold many REO's... good luck!
0 votes
Dusty Brazil, Agent, Del Mar, CA
Fri Sep 18, 2009
I can help, I pretty much work exclusively with REO buyers. Check out my website to browse homes in PQ http://www.BankOwnedHomesSanDiego.info I can provide you with speedy and professional REO assistnace.

Feel free to give me a call or email me direct to discuss your situation and start sending you http://www.BankOwnedHomesByEmail.com

I look forward to your response!

Regards
Dusty Brazil
Real Innovate Realty
760 207 7245
Web Reference:  http://www.DustyBrazil.com
0 votes
Highficainsd, Home Buyer, Rancho Penasquitos, San Diego, CA
Fri Sep 18, 2009
In addition, REO agent would be nice.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more