MURRIETA/TEMECULA/MENIFEE CA. REAL ESTATE - CAMERON WILSON

 Some days Are Harder Than Others in this circus we call life and many things are out of our control as we are not always the Ringleader to the Show under the Big Top so we must deal with changes as they come our way and make the best of situations as they can and do change quickly.

 My Real Estate Business Is Varied to say the least after 20 plus years and it runs the gamut from listing and marketing agent for Homeowners, first time buyers agent all the way to listing agent for Institutions with Real Estate Owned (REO) properties and everything in between thrown into the mix and with each and everyone I give my All to make Their needs become fulfilled. It's what I do.

 Today I Was Informed By A Corporate client, Asset Management Company, that They had lost the account from an Investor client of theirs and the listings I have been working on for them are to be taken off the market and to submit all final invoices for my expenses that have been incurred and all pending offers are hereby rejected. Big Bummer !!!!

 The Good News Is Three of The five Assignments were listed and sold within 10 days of the list date at a combined sales price of 108% of the listing price and the first closed escrow today, the second closes Wednesday and Friday the third one will close. These I keep but listing number 4 had three offers that deserved counters in my opinion but they were rejected outright and the listing was put on hold and number 5 was a Cash For Keys that was Completed 8 days ago. Never went to market with number 5.

 There Is A Possibility I Will Get The Listingsfrom the new Asset Company but in the meantime I can only go forward and hope for the best. I have worked hard to get the account from this particular Company but I cannot control what happens with Their business relationships even when it affects My Business.

 Give Me Lemons and I'll Squeeze Them to Make Lemonade.

 For all of your Real Estate needs contact me: cameron.wilson@century21.com

 When I Began My Real Estate Career back in the 80s I was fortunate enough to work for a large brokerage with 700+ agents working within 7 offices and many of the agents were the Top agents in the country and my office was one of three that had a weekly caravan of combined new listings that we previewed together. I learned very quickly that one agent in particular was the top of the top and she was best friends with my office manager and they always went on tour together so I would arrive early every week and ride with them. What a time to ask questions and to this day I still remember what I learned from this lady.

 She Taught Me That Most Agents View the last quarter of the year as the holiday season that runs from Halloween through New Years Day and the mentality of these agents is people are not buying homes at this time so we do not need to work as hard as we normally do but she pointed out the errors of that type of thinking as the best agents view it as a time of less competition so more sales can be made.

 Being the Dummy That I Am I Believed Her and kept right on working and sold five properties in December of my first year. She may have been onto something. Another thing pointed out to me was the fact she always evaluated the current years goals on October 1st to see how She was doing, what needed to be finished and to begin setting the upcoming years goals. No New Years Eve resolutions with her as the game plan needs to be set, adjusted, reviewed and put into play and this preparation.

 So Here I Am Finishing Up 3 Quarters of this year evaluating my Business and makiang plans for the winter selling season while setting higher goals for 2009 with my crystal ball as to what the financial markets will bring as that is an unknown out of my control but I do know I can control how I approach the market and that is with hard work and change with adjustments if necessary to stay competitive.

 As For Me I Will Take Control of The Marketand not allow the market to take control of me as I will work with whatever it brings to have continued success in my business. I learned this a long time ago from a petite Lady who may have known what she was talking about as today she is a coach with a National Real Estate Trainer but Names are not important as I learned this from Her years ago and it didn't cost me a penny.

Are You Planning for The Future? You Should Be!!!!!

 How High Are You Going To Jump?????

For all of Your Real Estate needs contact me: cameron.wilson@century21.com

 My Roots In Real Estate Go Back over 100 years all the way to my Grandpa Higginson my mothers side of the family who was a great man who owned thousands upon thousands of acres of land, many seperated as Farms with houses, in and outside of Johnson City, Tn. and in the days when Banks were hesitant to lend to People Of Color, I never understood that term as I always wondered " What Color"? he sold and carried the,"notes", first trust deeds on these properties and he told me as a teenager he never lost one penny on these loans and a Person was Only As Good as Their Word.  This great man passed away 31 years ago this month at the age of 100.

 Today My Wife and I Along Withour Son and Daughter in Law finalized the purchase of a property in North Platte, Nebraska, Hey They moved there, in which the property is being sold by an older couple who are friends of the Kids who we made a Verbal offer to purchase and they accepted with the terms for carriyng the "Note" with an acceptable interest rate with a designated length of time.

 We Spoke On The Phone With All Partiesinvolved this past week, including the Attorney drawing up the contract and Note, and agreed to all terms with a Gentleman's. or gentlewoman's, handshake agreement and the documents arrived today with a Sunday Delivery, with extra costs, and they were Exactly as agreed to with the phone negotiations and to all that may ask we did hire a local Agent plus an Appraiser to give value to the property and We paid Them Well.

 Since This Is An Investment Property with Two units that required 10% down and will return the initial investment in 23 months this is a good deal for the seller as they get the Interest over a 36 month period and our kids get to begin the journey of Real Estate Investment that I learned from a Great man and it has been Refreshing and a first time experience to do a Transaction with a handshake First and the paperwork to follow.

Life Has Become More Complicated But Grandpa Would Be Proud!!!!

Grandpa: Thank You From Me And The Great Grandkids!!!!!

 For your Real Estate needs contact me at:  cameron.wilson@century21.com

 Many Variables Come Into Play With The purchase of a foreclosure property and it is a complicated process at times but the process can go much smoother when all parties involved do their respective parts all the way from the Default Management Company handling the sale for the investor to the Loan Officer who is taking care of the buyers new purchase loan. Included in the mix are a couple of Real Estate Agents, Escrow Officers, Title Companies, Home Inspectors and the list goes on but the fact remains it takes everyone working together to close the sale on time.

 We All Hear Stories About Sales That Went Past the close date, it happens, and usually blame is thrown in all directions at each party involved but ever once in a while the stars align and everyone involved in a transaction is a Professional and takes things seriously and gets the job done.

 This Past Week on September 25th I closed escrow on a Real Estate Owned listing in Murrieta Ca. and the total time of this escrow was 29 days as we were able to close 1 day early and get this family into their new home. The selling agent wrote a very Clean offer, he knows how REO offers need to be written, that actually was not the highest out the eight offers written but the Asset Manager only countered with the banks standard addendum's.

 The Buyers Furnished Their Informationto their Loan Officer in a timely manner and that loan was processed immediately and the wheels of this transaction went into motion and concluded with a successful closing. As the listing agent on this property I have called all involved to commend each and everyone of them on a job well done and I asked the selling agent to thank His Client as well.

 When Purchasing A Property it Pays To Work With Professionals.

 For your Real Estate needs please contact me.  cameron.wilson@century21.com

 Much Has Been Written About ActiveRain Recently on the topic of it being a Real Estate site as opposed to a social site and many have given their opinion weighing in on both sides of the issue bringing valid points to each side but the debate will never be finished as ActiveRain is what each of us makes of it for ourselves individually.

 As for myself ActiveRain is the Best of Both Worlds as it allows me to reach out to the consumer and to also interact with other Real Estate Professionals, Lenders, Home Inspectors,Home Stagers and the list goes on and on but the fact of the matter is each of us are easily found in one location and it's called ActiveRain.

 I Can Reach The Consumer With Market Reports keeping them informed as to whats happening in the area that I work in plus the fact I can post listings showing the type of homes available and the price ranges. They can also read my blog and get an idea as to the type of person I am and get a feel as to how I do business and decide whether I am the Realtor (R) they would feel comfortable working with.

 As To The Social Aspect of ActiveRain I have met many wonderful people here in the Rain and by talking about things not work related we can get to know one another as people and not simply business relationships which doesn't always show the true nature of a person. I have spoken with many from the Rain on the telephone further developing relationships that has and will continue to bring business for them and myself as well.

 In 2007 I had 6 Clients Move Out of California to various parts of the country and every one of these clients asked me to find them an agent in their new location and with two of the relocation's it was hard to find a good agent that they would be comfortable working with. Since joining ActiveRain I now have gotten to know agents virtually everywhere in the U.S. and the social aspect of ActiveRain has given me the opportunity to select an agent that will be a good match with my clients.

 The Debate May Go On But for Me It's Already Settled As it's A Win Win Situation in My Humble Opinion.

 Many Real Estate Agents Have Taken A Look at the current market and seen that are thousands and thousands of REO properties currently listed for sale, thousands sold as well, by what seems to be only a handful of REO listing agents and for one reason or another complained it's not fair. It is true that some agents are carrying 100 + listings at any given time and there is an agent in my area who has 300+ properties available plus 200 in escrow with a team of 24 people many of whom are on a salary. Very expensive to say the least but after 15 years he has grown his business to be a large machine.

 The Commission For The REO Listing Agent Is Less Than the the selling agents commission most of the time and that is something anyone interested in REOs should consider before putting in a lot of time and effort plus the monetary outlay that is needed to build this type of business. The fact You will be earning less and doing most of the work by maintaining the property,marketing, monthly activity reports and paying the bills can become overwhelming if you are not prepared.

 The Commission Varies Depending On Who Generated The Listing such as a Default Management Company, a lender who handles their own properties and many others sources but the fact remains that usually the listing agents commission is 2% to 2.5% of the Net sales price after seller paid concessions are deducted from the sales price and in a few sales the agent will receive 3%. The buyers agent will normally receive 2.5% to 4% of the net sales price which most of the time is more than the list side.

 Here Are A few Examples Of The Commision Breakdown:

 Net Sales Price                       Buyers Agent                                                         Listing Agent

 $200,000                        3% x $200,000 = $6000                               2% x $200,000 = $4000

 $200,000                         4% x $200,000 = $8000                              2.5% x $200,000 = $5000

  The Listing Agent Is Instructed By The Company Providingthe listing as to the commission breakdown and if the terms are not followed they can lose the listing and more than likely there will be no future listings as they will go to another agent and there are Thousands waiting for the opportunity to service the REO client.

 This Series Has Simply Been A General Overview of the REO business and there is much more to the business than I have gone into but like I said in the beginning the intent was for everyone thinking about entering this niche market to give it some thought before jumping in. It's a tough market to break into but if you are serious You WILL find a way. Good Luck.

For All Of Your Real Estate Needs Contact Me At: cameron.wilson@century21.com

 As The Real Estate Market Has Shifted In The past two years more and more agents are trying to make the move into Real Estate Owned (REO) properties by becoming listing agents for these foreclosed homes and in part 3 we will discuss a few of the things that need to be considered before putting in a lot of hard work and effort that may Not pay off in the long run.

 Bills, Bills, Bills and Then Some More Bills.One thing You can be assured of with REOs is a monthly filling up of your mailbox with bills associated with your listings. The bank, or Default Management Company, will require you to have the property re-keyed, turn on the utilities, arrange for the initial lawn clean up and get a Trash Out of the property if needed. With some of the companies all expenses will be paid by the agent and invoices submitted for reimbursement which can run from 45 to 60 days from the date the invoice is submitted.

 Many of Your Service Vendors Will Wait Up To 30 days to be paid for their work Once You have established a history of paying them on time but in most instances it is COD at the beginning and you will need good credit to get the utilities turned on. Doesn't sound like a big deal until You start to amass many listings then it turns into a property management situation and you will also need a mininum of $1,000,000 in Errors and Ommissions insurance.

 Lets Do A Little Math On Just The Basic Expenses That Occur On 20 listings in your inventory and remember this does not include the start up services needed that the Bank may require of you as a few companies have their own Field Asset Service Companies do trash outs etc. These are the monthly expenses you can expect and I will do them a little Low on the estimate as your area may be higher.

 Electricity: $35    Gas: $20     Water: $35    Lawn Care: $ $75   Total Reacurring Expenses= $ 165.00

 Listings = 20 x $165 = $3300 on a monthly basis and this does not include postage if you mail the payments.

 Once Each Individual Listing Is Sold you will have 30 days to submit your Final invoice for expenses or you lose your money. This series is not meant to discourage anyone from entering the REO market but rather to inform everyone with the basics so You can make a decision based on the realities of this Niche Market.

 Next: The Pay Of The REO Listing Agent.

For All Of Your Real Estate Needs Please contact me at:

cameron.wilson@century21.com

 As Life Becomes More Instantaneous With Constant communication in the form of e-mail, text messaging, voice mail and the old fashion telephone call all of our lives have become more connected and at times we as human beings do not give one another the same courtesy we expect for ourselves  and that is the fact that all of us need some time off no matter the line of work we are involved in and with all of the technology at our disposal the technology has caused our lives to become more complicated.

 Many People Get In the Habit Of Working Hard To provide for their families, myself included, to the point of losing the reason behind the hard work and it becomes detrimental not only to ourselves but the family as well and when that happens everyone suffers all the way from our children and spouses to our clients and those we work with. I have done this and some of my clients do it as well and at those times we all must STOP and smell the Roses before we fall into a heaping pile of hard working Pooh.

 Therapy Comes In Many Forms All The Way From Fishing, sports, camping, I know people who actually ride Horses, but the point is all of us in this day and age need an outlet that helps us to relax and recover and this is the best form of Therapy possible and we don't need to pay a psychologist to tell us we need to relax and find what works we only need to find what works for us as individuals.

 As For Myself I have Found Myself Working Too Much the last two years so today I fired Up My Harley and went on a ride and lo and behold life became bearable again and tomorrow I'll be ready to face the challenges head on as riding is My Therapy and I feel rejuvenated but it brought up the question about others and that is: What Is Your Therapy?