Qualifying Requirements to Buy a REO Property

by Veronica Cabrera

May, 13 2012

My well qualified client asked me to put an offer on an REO property. The listing agent's remarks asked for the lender's owner of that property,  pre-qualification letter to be presented with any offer. The problem was that the REO lender will not issue any pre-approval if they don't talk to the borrower directly to ask for his authorization to run his credit. I would assume that a written authorization should be sufficient, but not in this case. I contacted 4 or 5 different lenders of that bank and all of them said the said the same thing, that they are required to talk directly to the borrowers to run their credit.

My client agreed to it. When one of the lenders talked to him, the lender insisted that my client to get the loan with him. My client was very upset because that was not supposed to be the purpose of the call. .

At the end, (3 days later) one of the lenders gave us the letter, but the property already had 10 offers by then.. We found another REO property and here we go again.

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

Happy Mother's Day (Central and South Americans)

Happy Mother's Day
(Central and South Americans)

by Veronica Cabrera

May, 10 2012

May 10th is the formal Mother's day for most Central and South American countries.
HAPPY MOTHER'S DAY!

I have to call my mom!

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

 

What is Better, Being An Educated Person or A Smart One ( Pick Just One)

Would You Prefer To Be Smart or Educated?

Some people are not smart... even though they might have a high level of education. On the contrary, some people are very smart without having attended college, and logically, some others are both, smart and educated.  But today, the third case is not in the game.

I wonder, if you had to chose between being an educated person or a smart one, what would you prefer?

I get motivated by those who have the drive and determination to reach success without excuses. I have heard stories of people who did not have much education and despite the fact became successful .

Some of the most successful people without college degrees are:

"Mary Kay Ash attended college but dropped out after she got married. She started Mary Kay Cosmetics after being passed over for a promotion that was given to a man who she’d trained. The company started as a book Mark Kay intended to help women and turned into a business plan. With the help of her son and $5,000, Mary Kay Cosmetics was created. Mary Kay Inc. was named one of Fortune’s 100 Best Companies to Work for in America and one of the 10 best companies for women." by Financial planning for Creative Mind (2008-2012)

"Michael Dell, the founder and CEO of Dell, Inc., dropped out of college at 19. He first started his computer company in his college dorm room, later using company’s earnings and family loans to expand. In 2008, Forbes ranked Michael Dell #11 in its 400 Richest Americans. As of 2009, he has an estimated net worth of $12.3 billion" stated by Financial planning for Creative Mind (2008-2012)

"Henry Ford never graduated high school, but went on to start one of the largest automobile manufacturing companies in the world, Ford Motor Company. He’s also credited as being the first auto manufacturer to use an assembly line, completely revolutionizing the way cars were produced. The assembly line allowed Ford sell cars at a lower price but the company kept making higher profit because sales volumes continually increased. Time called Ford one of the most influential people of the 20th century" also by Financial planning for creative minds.

This information was found in the following link:

http://learnfinancialplanning.com/famous-people-who-didnt-go-to-college/

 I find people who just pretend to be smart but don't take any control of their personal, emotional, and economic situation to be dissapointing. They bragg about how smart they are because of the level of education they have, however, they are unable or unwilling to change their situation

(Remember, We are not talking about the third case today)

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

 

Homeowners, I Have A Qualified Buyer For You House!

Do You Want to Sell Your Home?

By, Veronica Cabrera

May, 7 2012

I have several buyers waiting for the right property.
I spend hours trying to find them something available, but there is not much inventory. So, I decided to go look for my own listings.
I went door knocking telling homeowners in the City of Anaheim that I have an interested buyer who wants a property just like the one he/she owns. A few days later a homeowner called me and asked if I still had an interested buyer.

I sure did have a buyer! He asked me to show the property because after my convincing approach, he decided to sell.
I promptly called Luis, my buyer, and we went to see the property the very next day. 

We ended up signing the listing agreement and the purchase contract at the same time.

Another homeowner called me the very next day with the same question; If I still had an interested buyer? He told me I should show the property. I called my client (Antonia), and we are having the meeting to show the property in two days.
I have at least 8 buyers waiting for me to find them a property.

I better go and keep looking for more potential sellers before my buyers lose the opportunity to buying during this great market!

Homeowners, I can sell your property very, very quickly. Call me!

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

 

Why Do We Have to Sleep?

Why Do I Have To Sleep?

by, Veronica Cabrera

May, 5 2012

We all go to sleep every night. Some of us sleep more than others, but in the end we all need to sleep. According to the National Sleep Association (2011), "When we sleep well, we wake up feeling refreshed and alert for our daily activities. Sleep affects how we look, feel and perform on a daily basis, and can have a major impact on our overall quality of life."

That is not good for me because I don't like going to sleep. Not as much as I like working. I wish I could live without sleeping. It would be so great, but the above mentioned website also says:

 "Sleep helps us thrive by contributing to a healthy immune system, and can also balance our appetites by helping to regulate levels of the hormones ghrelin and leptin, which play a role in our feelings of hunger and fullness.

So when we’re sleep deprived, we may feel the need to eat more, which can lead to weight gain."

I guess, I don't have any other option than to get some sleep! Goodnight.

http://www.sleepfoundation.org/article/how-sleep-works/what-happens-when-you-sleep

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

What Type of Parent Are You?

Different Styles of Parenting

By: Veronica Cabrera

May, 3 2012

I considered this topic to be so interesting that I had to share it. I was reading that there are four different types of parenting. According to psychologist Diana Baumrind, (1966) the four types of parenting are; authoritarian, permissive, authoritative, and uninvolved parents. Each of them are described as:

Authoritarian parents are also known as the "bossy" parents. These parents do not allow their children to question their decisions or orders. They like to control them with strict standards and do not approve of their children expressing disagreement.

Permissive parents are very lenient with their children. They are not consistent with their rules and demand very little from their children. In other words, they let the child do what he or she pleases.

Authoritative parents like to set limits. They teach discipline and are consistent with their rules. They encourage independence and they explain things to their children when needed. They teach their children to set goals and to be responsible.

Uninvolved parents don't really care much about what happens to their child. They show little interest and affection. Some of them believe that providing food, clothing, and shelter is all they have to do for the child. They tend to fall in the category of negligent, or even abusive.

The personality type, that children produce as result of the type of parenting they had, would be:

Authoritarian's children end up being unsocial, unfriendly, anxious, and withdrawn.

Permissive's children often behave with low self control. They are anti-social,  moody, and dependent.

Authoritative's children are very social, most of the time. They are independent, responsible, and reliable.

Uninvolved parents' children are usually rebellious, and anti-social.

It seems like being an authoritative parent would be the best way to raise our children.

We should give them responsabilities according to their ages. We should explain things and hear their point of view so we can develop the right message properly. We should maintain our position as parents and adults without forgetting that they are also thoughtful and emotional individuals.

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140

Most Trustee Sales Are Postponed

Trustee Sales Are Not Selling!

By, Veronica Cabrera

May, 2 2012

Lately, I have been checking on trustee sales where investors try to buy properties for cash, before banks foreclose on them. From about 30 properties that were going to be foreclosed today in Santa Ana's Courthouse, about 25 of those were postponed. There is a lot of work to do before going to the sale. For example:

• We have to check tax records for other liens besides the first position lender.
• We have to preview the property to check on the area and condition,
• We have to check on unpaid tax bill and much more!
• We also have to keep calling, just before the sale, to confirm whether the sale is still active or if it has been postponed.

Foreclosure sales are getting postponed some time for years! On top of that, some of the properties are going back to the lender because sometimes banks ask for 150% over the actual fair market value. What is this!?

                           In conclusion, There is a lot of work to be done with very little results!

Veronica Cabrera, Realtor

Realty ONE Group

Huntington Beach, Riverside, San Bernardino, CA

veronicasreohomes.com

veronicacabrerarealtor@gmail.com

(714) 809-6521

R.E. Lic. #0143140