An impassioned plea to the good-looking and powerful employees at BofA in charge of assigning the REOs – can you please send me an occasional coastal McMansion please?
Biz-Opp
by Jim the Realtor | Sep 1, 2009 | Foreclosures/REOs, Jim TV, Real Estate Investing, REO Pre-Listings, REOs Coming to Market, Thinking of Buying? | 22 comments
That is funny. You need to have a logo on your website, done by a cartoonist with a ice cream truck. You definately have some weird phenomenon with them. Is it a positive sign or negative?
That is a great video Jim. Too much driving makes you giddy, or you had a three martini lunch before you fired up that camera. 🙂 Great sense of humor, as always.
How about the ice cream truck music/dog harmonies at the end?
How hot was it out there? 115? At least it’s gaming adjacent; probably not much else to do out there that doesn’t involve a shotgun, 4×4, or making somebody squeal.
I didn’t hear you repping the Thomas Guide at the end of the video. Did all of the driving reform you?
Jim the Energizer Realtor… he keeps going and going…
Still, real men don’t use Thomas Bros anymore either. We sneak a quick peek at our iPhone when nobody is looking.
Oh Lordy, Jim! I was feeling really sorry for you while watching that. Bet they’re not selling ice cream out of that ice cream truck. 😉
Here’s hoping they give you a nice, coastal-ish house — 4/2+, single-story, 10,000+ sf lot, pool… 😉
this is the best video you’ve made this summer!
agreed. The ice cream truck at the end made it for me.
Jim, I think you’re screwed. BofA is obviously having a laugh at your expense. Your next listing from them will only be accessible by boat.
But does it have the necessary 200 amp service?
“Business Opportunity” LMAO!
Love the ice cream truck at the end.
Friends of Hellhole Canyon: http://www.hellholecanyon.org/
Selling that house to this group will be like fishing in a stocked pond!
I scream, you scream, we all scream for ICE CREAM!!!
Funny video, Jim. I aspire to be as bitter as you when I reach your point in life.
This looked like a nightmare you might have. Locked out of the property with ice cream trucks and wild dogs howling in Hellhole canyon.
Forgive my ignorance but what obligation do you have to mess with these types of REO’s ?
Jim, question re REO strategy.
First question would be how much influence (as the listing realtor) do you have with the bank. If you say “Guys, 150K is all your going to get for this crap property” does the bank just say “OK- get rid of it”. Clearly they must listen to you to a certain extent.
With this in mind, would it be to a Realtor’s benefit to just start unloading properties at “cheaper” prices and the bank therefor say “Hey this guy Jim unloads them super fast…give him more”
Whats the balance between getting the bank a good price and getting it off their books?
LM-The banks do, in some cases, favor a quick, sure thing over a higher price. This is why lower all-cash or conventional offers sometimes beat out VA/FHA offers that are higher, because a VA or FHA offer has a much higher chance of falling out of escrow than a conventional or especially an all-cash offer.
Still, Jim’s job it to tell them the truth-what a house is worth. Plus, the higher the sale price, the more he makes in commission.
*Chuckle* Jim, on that long, lonely drive out to that house,I said to myself–here’s the ending: “I’m Jim the Realtor – here in New York”.
As for BoA giving you this REO, have you ever heard of the book (regarding relationships that never go anywhere)”He’s Just Not That Into You”? Maybe you should substitute the word, “BoA” for “He”. Maybe some of Angelo’s pals are now working for BoA and remember you…
And the ice cream at the end of the video! You may just sell this “business opportunity” in less than a week! It will take that long only ‘cuz of the length of the drive out there to show the very first prospective buyer.
PS *Giggle* I’m a girl, severely directionally-impaired, and I love Map Quest–but then again, I’m NOT a Realtor, so you can’t call me names, Jim.
You need to listen to your Camper Van Beethoven when you’re way out there in the sticks:
Well, some people say
That it’s the ice cream truck
But it’s not
No, it’s not
It’s not the magic bus
And it’s not one of those family buses
No, and it’s not the ice cream truck
And it’s, it’s not the sheriff’s truck
No, it’s not the sheriff’s truck
And they say it walks the line between good and evil
And sometimes he’s bad, but it’s not
And sometimes he’s good, but it’s not
No it’s not
And it’s not the magic bus
And it’s not the cement truck
No, it’s the surprise truck
Surprise tuck
It’s the surprise truck
Oh, yeah, it’s the surprise truck
Surprise truck
Surprise truck
What, that monster Mercedes doesn’t have GPS? You gotta get with the times, man; packing a Thomas Guide around will get you tagged as a geezer for sure. 🙂
Oh, and it may not be a different state, but certainly a different state of mind.
LM,
I don’t get the feeling that the asset managers listen to me much, but it seems to be an individual thing. The one AM for Monica Circle wanted to brawl over price, others ignore my price and go much lower, but only a couple have gone higher.
My official scorecard is 100% except for pricing – I got whacked 20% on the last two quarterly scorecards for selling them too high over my BPO.
Of course, they goose the market and list below my recommended price and 10-23 offers come in, and then I play the offerees against each other to push the price sky high, is reason enough to deduct from my score.
Geezer, and proud of it.
Jimbo
Thanks for the insight.
Keep up the good work!
LM
They have (had) a blog too:
http://hellholecanyon.blogspot.com/
Typical blog – they completed 7 posts last year, and fizzled.