This week was mainly a logistical week. I completed registration with Bella Homes (http://realvalueresolution.whybellahomes.com/), which will allow me to offer an alternative to foreclosure for clients. The Bella homes business model is unique in that it allows the client the flexibility of staying in the home without obligating them to continue as a homeowner. This structure benefits the client who doesn’t want to move, doesn’t know for sure they want to continue owning the home, but knows if the do choose to stay they will have a fixed value structure to their re-acquisition. Next week I will evaluate an affiliation with another settlement company, ACI (http://acilegalshield.com/landing154/, which conducts a forensic audit on behalf of the homeowner and represents their interest in seeking redress from the banking institution. Bella appeals to clients that are uncertain of what they prefer to do going forward, while ACI appeals to the homeowner who is dug in for a fight. I also spent a lot of time practicing the valuations and the intricacies of the online tracking system. Yesterday, I entered initial negotiations with a builder/contractor who owns a dilapidated single-family structure in Ridgefield, WA (along with his sister and brother). Although negotiations were cordial, it is clear that the seller is asking an unrealistic price for the property; the property is peculiarly listed as a “For Sale By Owner” as opposed to being listed on the MLS; and based upon a demeaning client made during the inspection, I suspect that the contractor has a contentious relationship with at least one of his siblings, who also has property rights in connection with the property. Next week I will strategize as to an approach that will flesh out more of the dynamics behind the selling group in the hops of being able to eventually compel the parties to agree to a price within a reasonable value range. Auctions were less than stellar throughout the week.
Brian Keith Mason
Jan 13, 2012