RE/MAX Excalibur Realty
(480) 355-3552
k. JAY HAUGEN

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Jay Haugen REO SELLING EXPERT SINCE 1986

I have been selling REO since 1986 and have sold every REO property I listed for several consecutive years. My client list includes over 80 financial institutions and many branches of the federal government. My track record provides the credentials of success required in today’s market. To discuss my loss mitigation strategies please call me: Jay Haugen 480-355-3552.

Attention: Foreclosure Department, REO Department, Asset Managers.
Consider the following statistics to help you back up your selling decisions. I know from years of experience that each file needs to provide information to justify selling decisions you make and the following will help you. These MLS statistics are for the Arizona market and predominantly Maricopa County. You should have a statistical study for each property you sell in the file that is defined by the subject property parameters.

Arizona updated sales statistics are provided to our clients who place REO listing with us:

Arizona REO Market

ATTENTION REO MANAGERS.....Your REO losses will grow substantially the longer it takes you to identify the market value of your portfolio. In some cases BPO's have been chasing the market instead of tracking the market leading to additional losses.

As of March of 2009 the value of the REO property in Arizona was over 2.4 BILLION dollars. Since many zip codes are in decline holding time is a component of total losses. A slow response time to offer negotiation is frustrating to buyers and this can increase losses.

ARE YOU AN EARLY ADOPTER? In the late 80's and early 90's there were thousands of foreclosures in Arizona and the early adopter institutions made more money selling their REO than late adopters. Call Jay Haugen to discuss this strategy for loss mitigation. There is a small window of opportunity and those who investigate this option for their institutions will be glad they did before this opportunity evaporates. The last REO cycle late adopters lost millions more than early adopters and we are seeing this problem in the current REO disposition strategy applied in 2006, 2007, 2008 and now 2009. It is important to learn from the mistakes made during the last large foreclosure cycle and not repeat the procedures that created millions of dollars of additional losses. Our early adopter clients were large, sophisticated entities that, in addition to using our disposition system and technology, provided considerable and candid feedback to help us refine our disposition system to be 100% effective over many years with an average market time of 16 days for those properties sold within 30 days.

TRADITIONAL REO MARKETING    

You do not have the option of selecting which assets become non-performing, but you do have the option of selecting an agent with a proven system for selling REO’s. Jay Haugen's corporate sale service was established in 1986 with the quick sale of a property other agents had failed to sell. Even in the buyers market of the time some properties he listed sold for thousands more than appraisal. Corporate management was so impressed with the results that he was referred to over 80 other institutions to be part of their REO disposition team. The “6 Step Property Selling System” he developed has been effective selling condos to multi-acre estates and everything in between. Commercial real estate may be next in line as the subprime impact grows and Jay's systems can be effective for these assets as well.

Jay's service area grew as a result of this large client base of some of the largest institutions in America and currently covers Maricopa County, which has the largest population of all Arizona counties. After the Savings & Loan crises of the late 80’s and early 90’s the Arizona economy recovered. Since 1993 Arizona has had a healthy enough economythat REO departments did not need a large contingent of REO sales agents. As the market recovered Jay's sales efforts were focused on the broader market segment of owner occupied property.

Recent market shifts once again dictate promoting the “6 Step Property Selling System” to the lending industry. Arizona has experienced a loss of equity for many property owners and a high number of bankruptcies which have contributed to thousands of foreclosures. Access to an experienced REO expert is fast becoming a valuable commodity for REO departments with Arizona inventory. As you will see in review of Jay's resume and credentials he is well qualified to assist with your disposition needs and is available to discuss how you can reduce your losses through his asset improvement and sale services.

JAY HAUGEN'S RESUME
RE/MAX Excalibur Realty
8510 E. Shea Blvd #100 Scottsdale, AZ 85260

Office: 480-355-3500 Website www.haugenhomes.com

Key Strengths
• Proven track record as successful salesperson since 1982
• Client focused and detail oriented
• Superior knowledge of Arizona real estate market
• Effective communicator & strong technical knowledge
Major Accomplishments & Performance Records
• Developed “6 Step Home Selling System” which generated 100% success when employed
• Every home listed SOLD, for several consecutive years
• The system worked effectively in the following cities;
Apache Junction, Buckeye, Carefree, Chandler, Fountain Hills, Gilbert
Glendale, Mesa, Paradise Valley, Peoria, Phoenix, Scottsdale, Sun Lakes
Surprise, Tempe
• Many clients received an offer after an average of 8 showings
• Average market time was 16 days for the dozens of homes that sold within 30 days
• Over 100 clients received more than one offer on their property
• Multiple bids gave the seller an auction like environment from which to select high bidder and dozens of clients received full price or more for their property • Wrote “Buying Book” to assist home buyers in reducing after purchase surprises
Awards & Work Experience
• Ranked in the top 6.0% of RE/MAX agents in the world.
• Designated as #3 salesperson for RE/MAX Southwest Region.(Region contained 4,632 agents at the time)
• Designated as #1 salesperson for RE/MAX Anasazi Realty in Tempe Arizona
• Hall of Fame
To become a member of the RE/MAX Hall of Fame, Jay Haugen has distinguished himself as one of the elite in the entire real estate industry. In his career with RE/MAX he has produced real estate sales exceeding those of entire sales staffs of other companies. This extraordinary professional achievement along with dedication and loyalty qualifies Jay Haugen for a place of honor in the RE/MAX Hall of Fame. • RE/MAX Platinum, 100% Club, Executive and President awards for superior sales performance
• RE/MAX Golden Eagle Service Award for client satisfaction for several consecutive years
• Featured speaker & trainer on property valuation at National Association of REO Brokers (NAREOB) corporate sales conference
• Ranked in the top 1.4% of all Century 21 agents in Maricopa County
• Designated as #1 salesperson for Century 21 Plaza
(Century 21 Plaza was the number one office for Century 21 in the region at the time which encompassed 2 ½ states with 2,750 associates)
Affiliations & Education
• RE/MAX Excalibur Realty (2007 to Present) • RE/MAX Anasazi Realty (1990 to 2007)
• Century 21 Plaza (1986 to 1990) & Century 21 Stalcup (1982 to 1986)
• National Association of Realtors (NAR)
• Arizona Association of Realtors (AAR)
• Arizona Regional Multiple Listing Service (MLS)
• Southeast Valley Regional Association of Realtors (SEVRAR)
• National Association of REO Brokers (NAREOB)
• Coursework for Certified Residential Specialist (CRS) & Graduate Realtors Institute (GRI)
• Real Estate License earned in 1980 while attending Arizona State University
• B.S. in Accounting from W. P. Carey School of Business, Arizona State University
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TESTIMONIALS

Our referral base has grown to almost 100 REO departments because we place client satisfaction on the top of our priority list. Our clients appreciation of our system is best supported in their own words:

“I wanted to let you know I have enjoyed working with you. I feel we've built a good working relationship. I look forward to continuing that relationship and our friendship. Thank you for your insight, knowledge and guidance. It’s always a pleasure to work with an individual who presents and handles himself professionally within our industry.”
Adam Lawrence GMAC/Residential Funding Corp.

“Your (sales) statistics are very impressive and certainly prove your superior knowledge of the Arizona real estatemarket and that you have what it takes to sell properties in a tough market. You are to be commended on your prompt friendly service and your willingness to help with any problem that may arise. Your market opinions are very thorough and really help to give insight into your local market and how a particular property should be most effectively marketed. Also, highly appreciated, is you concern for the seller at all times and our “pocketbook”. You have never given me any cause to wonder for whom you are really working.”
Paula Higgins Metmor Financial Inc.

“We have been very pleased with the services you have given us. I especially like the detailed information you have given us on our property. Since we are not close enough to the property to personally inspect it ourselves, the information you provide has been helpful to us in deciding on repairs, setting a list price, and making general marketing decisions. I also like the way you take a personal interest in our property. It helps us to feel at ease to know that you are doing everything possible to get our property sold quickly. I have enjoyed working with you , and I am looking forward to working with you in the future.”
Melanie Allen Community Federal

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CLIENT LIST
Jay Haugen has assisted the following companies with their valuation and disposition needs on over 800 properties.

Aames Great American Asset Management
Accubanc Mortgage Corp. Great Northwest Federal S & L
Advanta Mortgage Greenthal Realty Partners L.P.
American Home Funding Hanover Financial Inc.
American Residential Mortgage Corp. Imperial Savings Assoc.
Associates Financial Services Co. J.E. Robert Co. of New England
Associates Relocation Liberty Lending Services
Atlantic Financial Federal Main Line Federal Savings
Ball Asset Management Metmor Financial
BankPLUS Mortgage Corp. Metropolitan Federal Bank
Bank One MGIC
Banner Bank Savings Association Mid America Federal
Benjamin Franklin Federal S & L NAREOB
C.S. First Boston National Mortgage Co.
California Capital National REO Services
Centrust Mortgage Newman Ahearn Chambliss & Bannen P.C.
Chase Federal Bank PCI Gomez Companies
City Mortgage Services Peelee Corporation
City Savings Bank of Meridian Petrini Asset Management Co.
Community Federal S & L Assoc. Portfolio Acceptance Corp.
Connecticut National Bank RE/MAX Leading Edge
Crossland Savings Bank RE/MAX REO Nationwide
CSW Associates Inc. Relocation Realty Services Corp.
Dime Savings Bank Resolution Trust Corporation
EMC Mortgage Corp. RTC Northeast Consolidated Office
Empire of America Realty Credit Corp. RTC/Aspen Savings Bank
Essex Mortgage Corp. RTC/Gibraltar Savings, F.A.
Express America Mortgage RTC/Pima Savings Bank
FDIC Seaton & Seaton & Assoc.
FGB Realty Advisors Security National
First Commercial Mortgage Security Pacific Bank
First Constitution Bank Shawmut First Mortgage Corp.
First Federal Savings & Loan Shorewood Financial Inc.
First Gibraltar Mortgage Corp. Simmons First Mortgage Co.
First Gibraltar Bank, F.S.B. Southwest Savings & Loan
First Interstate Bank of Arizona, N.A. Spring Financial Inc.
First National Bank The Savings Bank of Utica
First Nationwide Bank U.S. Bancorp
Foremost Servicing Company Union Mortgage
FSB Mortgage Union Planters National Bank
Gibraltar Savings United Savings of America
Gibraltar Savings, F.A. Virginia Beach Federal Savings Bank
GMAC Wells Fargo Bank
GMAC/Residential Funding Corp. Wendover Asset Management

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ZIP CODE SERVICE AREA
Jay Haugen's geographical service area where he has closed sales is defined by zip code below.

These Zip Codes are found in the cities of:
Apache Junction, Buckeye, Carefree, Cave Creek, Chandler, Fountain Hills, Gilbert, Glendale, Mesa, Paradise Valley, Peoria, Phoenix, Scottsdale, Surprise, Tempe.

Please note that there are many planned communities in these cities such as Ahwatukee/Foothills, Boulders, DC Ranch, Desert Highlands, Desert Mountain, McDowell Mountain, Terravita, Troon and numerous others.

85006 85051 85257
85008 85201 85258
85009 85202 85259
85012 85203 85260
85013 85204 85262
85014 85205 85268
85016 85206 85281
85017 85207 85282
85018 85208 85283
85019 85210 85284
85020 85213 85296
85021 85215 85297
85022 85219 85301
85023 85220 85302
85024 85224 85303
85027 85225 85304
85028 85226 85306
85029 85233 85308
85032 85234 85345
85033 85236 85374
85035 85248 85377
85037 85250 85381
85040 85251 85382
85041 85253  
85044 85254  
85045 85255  


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CONTACT US, Select the method that works best for you. .

List a property for sale…
…..............Have a question about your transaction...
…..............................................................Just need some advice….

PHONE:

Office/Direct 480-355-3552 then dial 1

MAIL:

JAY HAUGEN
RE/MAX Excalibur Realty
8510 E. Shea Blvd. #100 Scottsdale, AZ 85260
Scottsdale, AZ 85260

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AZ Market Update
From time to time information that may impact your bottom line comes to our attention. We will update this page as we become aware of changes in law or procedure that you should know when selling property. The information provided here may help you reduce losses or limit liability for your company.

REO Disclosure Requirements
Courtesy of Chris Combs (March 2003 AZ Realtor Digest)
Real estate attorney with Combs Law Group in Phoenix, Arizona
Q: A bank is selling "real estate owned" (REO) property. The bank refuses to furnish a "Sellers Property Disclosure Statement" (SPDS). Is the bank required to furnish an SPDS?
A: No. Unlike most states Arizona does not have a staute requiring written disclosure by sellers. Therefore, the bank can require that, if the buyer wants to buy the property, the buyer agree to an amendment to the contract deleting the SPDS. Note: Under common law and the contract, Lines 280-282, the bank is still required to disclose any material and adverse facts related to the property.
JAY HAUGEN:
Banks may sell property in "AS IS" condition but "common law" dictates that the sale be "Informed AS IS" since the bank is required to disclose what it knows. It is a good standard of practice to check the property files for any adverse and material information that should be disclosed to the buyer. Disclosure issues discovered within the banks REO files during any litigation after closing may create additional loss. In light of the economic risks of nondisclosure, filling out a Seller Property Disclosure Statement (SPDS) would not be an unreasonable company policy to limit the institutional liability for after sale claims.
CASE STUDY
On April 30, 2003 a local Arizona news channel (channel 3) announced that a family had purchased a HUD home and after closing learned that it was previously a meth lab. The reporter also announced that after the news staff visited with HUD they agreed to clean up the the property or buy it back. You probably do not want your company to be the subject of evening news.

AS IS vs. REPAIRED
The big question when a file lands on your desk is how do you minimize the loss. Consider the three different buyers for an REO property.

Investor/bulk sale: The goal is to make money on a quick turn around so they consider market value, cost of repairs, and desired profit margin for their efforts. Their offer will be thousands below market to meet this goal. Sometimes this is not the perfect buyer, and there are times when this is the perfect buyer for a no win, heavily damaged property.

Owner/Occupant Investor: The goal is to make money when the property is sold in the future. Perhaps they will make the repairs themselves which cuts out the profit margin of the contractors so they can pay you more for the property.

Owner/Occupant: No time to fix it up, they just want a quick clean move and they will pay close to fair market value or more for the opportunity. In our experience many buyers figure the expense of repair at three times the cost. If a buyer will pay $4,500 more for a property with a $1,500 paint job you have effectively lessened the loss for the company by improving the market appeal with a coat of paint.

The AS IS/REPAIR decision also depends on if the market favors sellers or buyers at the time of sale. Jay has sold REO property for $40,000 to $95,000 more than appraisal. Including a directional market study with a BPO’s helps determine market direction which the previous examples show are crucial to reducing REO losses. Jay looks forward to discussing your disposition goals should the need arise here in Arizona.

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"We're a fair housing provider" Equal Housing Opportunity
Each RE/MAX office is independently owned and operated.
  
© 2000-2009 all rights reserved by Jay Haugen v3/09 www.haugenhomes.com