RECENT BLOG POSTS
For those who don't know our Vice President is an avid hunter.  I live and work about 1.5 hours north of NYC and the VP has on occassion come hunting here.  Yesterday was one of those days, except I did not know that.  So I went on with my day and did a 2nd opinion BPO on an REO in the eastern pa...
10/30/2007
The secondary market thats why! and I'm not talking about the Wall Street guys that are no longer willing to provide funding.Right now there is allot of quiet buying going on.  I'm not talking about these guys and gals who post about REO bulk sales, most of them are brokers, not real and if your ...
10/22/2007
Today I meet my non MLS counterpart, a nice guy, knows alot of people,  but how in the hell does he think he got the best price for his REO Client without using the MLS?  During my asset manager days we did not use the mls, but that was 1992, the web was a baby, the local mls was in a book form p...
10/16/2007
As today goes I get a call from an asset manager to do a 2nd Op BPO.  When I ask for the listing agents contact info I scratch my head.  I go to the mls to pull the listing and low and behold there is no listing, I look the agent up by name assuming that I made a mistake on the address so I'll ju...
10/15/2007
Everyone even Congress is up in arms over this 1099-c, and the phantom income tax that all of these poor homeowners will pay in taxes.  WhoHa!  Politicians being politicians.  In most instances a consumer will not pay  any tax on a 1099-c. If you have an average, just average tax preparer or lawy...
10/14/2007
When i sell non REO (Friends, Family or Referral) i always advise my clients to be at the bottom 10% of th price range based on Good and i stress Good comps, (Same size within 10-15% etc.).  When they listen and the house is in better condition than those at the same price range they get multiple...
10/11/2007
From what I hear from a good friend who is very high up at Citi it's loan workout time.  He says the numbers of people in default is staggerering and even though they just bought a sub prime lender who was about to go under even they realize that if they keep taking back properties values will de...
10/08/2007
New to active rain but not to real estate.  I spent from 1992 to 2001 buying non performing mortgages and other debt instruments from the FDIC, RTC, OTS, banks and other private equity buyers.  It all changed in 1997 or so whent Fleet Bank held a 600 million dollar auction in Atlanta.  We went wi...
09/20/2007
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Jeffrey Dolfinger

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