foreclosure repairs: SCIENCE 101 FOR REALTORS- CLASS IS IN SESSION - 09/22/10 12:52 PM
Today's  lesson- Rust, or in the case of real estate, rusty pipes.
Rust is scientifically called oxidation, which occurs when oxygen comes in long-term contact with certain metals. Over time, the oxygen combines with the metal at an atomic level, forming a new compound called an oxide and weakening the bonds of the metal itself. If the base metal is iron or steel, the resulting rust is properly called iron oxide. Rusted aluminum would be called aluminum oxide, copper forms copper oxide and so on.
The main catalyst for the rusting process is dihydrogen oxide, (Formed from an extremely energetic chemical … (0 comments)

foreclosure repairs: If the Toilet Paper Dispenser is in the Shower, You Might Need a Home Inspector. - 01/23/10 03:45 PM
We get the question quite often, "Do I need to have the house inspected?" Well, dollars and cents say, "yes", but most importantly common sense says, "yes." Consider this disturbing picture of house with toilet paper roll dispenser built into the shower!!! (along with an electrical outlet, yipes!)

 
First, let me state that I am not a home inspector. I am not posting this to solicit home inspection business. I am in the real estate repair, restoration, and property preservation business as a general contractor. I want buyers and Realtors to be aware that the homes in this market are VERY different than anything we … (5 comments)

foreclosure repairs: Who is going to finance the fixer upper and new home repairs? - 12/14/09 01:12 PM
“Minus the safety, security, and cleanliness factors, this house is our dream home!”
Let's face it, this is not your grandma's real estate market. Buying a home in today's market is different than buying a home a few years back. The standards of house conditions have fallen drastically in a relatively short period of time. New homebuyers are no longer expecting to find their dream home that's in move-in condition when escrow closes. The current real estate inventory is cluttered with junky houses and fixer uppers.
Banks are not willing to put in a lot of money into a property they … (1 comments)

foreclosure repairs: Fannie Mae takes a "A Big Step" ...BUT in what direction? - 11/16/09 05:20 PM
Fannie Mae said it would start offering leases of up to 12 months as an avenue to keeping families in their homes. "It's a big step forward," says Dean Baker, co-director of the Center for Economic and Policy Research and a longtime proponent of rent-back programs.
"The Deed for Lease Program provides an additional option for qualifying homeowners who are facing foreclosure and are not eligible for modifications," said Jay Ryan, Vice President of Fannie Mae. "This new program helps eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to … (3 comments)

foreclosure repairs: Why we are about to bottleneck BIG TIME! - 11/03/09 01:05 PM
Have you heard that foreclosures are on the rise? Ummm, duh?? Unless you have been hiding under a rock on Mars, of course you know this. But what you might not know is why we are about to hit a HUGE bottleneck traffic jam within the next year unlike we have EVER seen... and  it might not be for the reasons you think.
THE ANALOGY: In this market selling an REO home is like racing in NASCAR.
THE GOAL: Sell as a fast as possible in the most efficient manner, beat out the rest of the competition, and move onto the … (3 comments)

foreclosure repairs: PSYCHO "SHOWER SCENE" IN REO's STRIKES TERROR IN AGENTS AND HOMEOWNERS - 09/22/09 04:44 PM

ATTENTION: A well-disguised and silent assassin is lurking in every vacant home causing agents and homeowners to scream in terror, hoping they will not be the next targets of the vicious crime. The crime scene is nearly always in or around a bathroom, however, the failure to detect this assassin has left agents and homeowners bewildered and confused. Victims are attacked when they least expect it. Routines activities such as turning on water and flushing a toilet seem to trigger the criminal, almost as if giving a cue to begin the destruction. It is apparent that the violent acts always … (2 comments)

foreclosure repairs: The New Crime in REO's: The Shocking Truth on Who's Behind It. - 09/11/09 06:54 PM

Scott was a husband and proud father of three. Nothing was more fulfilling than the day he was approved for a home loan. His dream of providing a home for his family was finally a reality. He would soon be a proud homeowner, inviting his friends and family over at every opportunity he could to show off his pride and joy. One day Scott's perfect world came crumbling down. Scott developed a destructive plan to counter his unforeseen fate. Who would have thought this law-abiding citizen would mastermind such a heinous crime…
The new crime in REO: Deliberate and catastrophic acts … (6 comments)

foreclosure repairs: Update to "The Infidelity Mattress Test: revealing a shameful story in REO's." - 09/11/09 02:53 AM

Update to The Infidelity Mattress Test: revealing a shameful story in REO's.
 

 
Did I mention the e-waste issue at foreclosure properties we find daily?  Same property. Same story.  Mercury from CRT’s, TV’s, florescent tubes, and otherelectronic waste, (e-waste) is a MAJOR toxic problem, not just in California but throughout the U.S., wherever foreclosures are popping up.   We pick up and dump 1000’s of these items monthly legally and ethically. Most banks or asset management companies, do not consider this to be a problem. These companies demand those items be included in standard debris removal, at per cubic yard pickup and disposal pricing, usually $11-$18 … (0 comments)

foreclosure repairs: The Infidelity Mattress Test: revealing a shameful story in REO's. - 09/09/09 03:42 PM

We have all seen the test on CSI. The blacklight comes out and scans the bed. “DNA” is discovered and we later find out the victim was a part of a scandalous affair. The mattress held the secret and revealed the story.
The same is true in the REO business, the mattress tells the story.

Please look carefully at the photo of a property we serviced last week and notice the piles of mattresses. Did the previous owners really have that many mattresses? What is the truth? The truth is that these very likely did not belong to the previous … (10 comments)

foreclosure repairs: Who is responsible for REO disclosures? - 09/07/09 07:28 PM
I recently had a conversation with an agent regarding their REO listings, specifically, who was responsible for disclosures in regards to the condition of the property. The agent made it very clear to me that they were not a licensed inspector and it was the responsibility of the buyer to get a thorough inspection. After all, “the properties are being sold “as is”, the buyer understands that they are buying an REO and the property will have unknown defects (reiterating) I am not an inspector, that is not my responsibility.”
I personally know this agent as one who would normally have … (4 comments)

 
Jerry Bronstrup (Bristol Builders, Inc. Your FHA Expert 866-775-8169)

Jerry Bronstrup

Los Angeles, CA

More about me…

Bristol Builders, Inc. Your FHA Expert 866-775-8169

Address: 25020 Avenue Stanford, Suite #110, Santa Clarita, CA, 91355

Office: (661) 294-1313

Mobile: (661) 816-6949

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