Matt Kofsky's (mattkofsky) Blog

Real Estate Agent - Transaction Realty 500 Reno, Nv.
I was given an interior BPO assignment today.   The property is an REO listing with an agent who is 400 miles away.  The company only deals with one agent for the entire state.     The house is 4679 sq ft on 1 acre with a 5 car garage in an exclusive neighborhood.  The lawns are so green, it hurt...
I do not understand the people who have problems with refinancing.  Scenario 1.  A person buys a house for $100,000.  A couple of years later it is worth $200,000.  He refinances and owes $150,000.  He has $50,000 equity. Scenario 2.  A person buys the house next door for $200,000.  He borrows $1...
There is a blog that states there is a direct relationship between taxes and employment.  A common talking point.  I live in Nevada, with 0% income tax.  We also have the highest unemployment rate in the country.   It is often...
In the past week, I have gone into 2 homes with gas log fireplaces.  One was vacant, one was occupied. It hit 100 degrees 2 days ago.  Both homes had the air conditioning on.  Both fireplaces, the pilot light was lit.  So they were burning gas and heating the house. 
There seems to be two catagories of opinions here. # 1 Tell me your situation and I will try to help you. # 2 Tell me how you got into your situation and I will decide if you are worthy of help. People in the first catagory help anybody.  People in the second catagory will only help you if you fi...
I think that I have noticed a trend on AR.  People from different areas have different opinions based on their market.  The people from the states with the most defaults are less judgmental about the defaults.  People in Nv, Ca, Fl, Az deal with this everyday, sometimes more than once a day.  Whe...
I just got a phone call from a REO company.  They only use an agent who is 400 miles away from here.  They wanted me to hold an open house for them.  They told me that I would not get the listing, they have an agent.  I would not get other listings from them, they only use the one agent.  I polit...
We were assigned a new REO property.  It was listed Oct - Feb as a short sale for $50,000.   We listed it as an REO the first week of June for $45,000.  9 offers the first week.  Highest and best resulted in a price of $60,000 cash.   Is there really that much of a difference in short sales prices?
I just valued a home listed at $150,000 for $180,000.  I just did a drive by BPO.  The home is listed for $150,000 as a short sale.  It is 1500 sq ft.  It is tenant occupied.  It took 2 months to go pending.  I put in a sq ft range of 1200-1800 sq ft.  I went back 6 months in time.  I went out 3 ...
I am surprised by how many people do not understand the bpo process. You are assigned a bpo. There are rules to follow with the bpo. I have received the following rules for different bpos and many others.  Use only REO comps. Do not use REO comps. The distance must be within .5 mile from the subj...

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