Ultraforeclosures Review – What Is This Auction Site About?

The Ultraforeclosures is yet another web site that is geared toward helping folks take advantage of the real estate market melt down. This is a subscription site that offers a 7 day free trial but once the free trial period is over than you will pay a monthly fee until you cancel, the fee is automatically billed to the credit or debit card you use at the time of registration.

Nothing is sold through this website other than information you can get for free. Of course this is a good service if you do not have the time to rifle through endless county records.

Positives

The Ultraforeclosures.com review shows that the site is easy to navigate. The information is easy to understand and most things are easy to find. There is a toll free number you can call if you have any questions. If you need some tutoring or tips on how to purchase foreclosed properties this website offers quite a few tutorial opportunities several different informative Ebook’s a page of tips on how to be successful in the foreclosure purchasing forums.

According to the better business bureau website this company has been registered with the BBB since 2/2010 and no complaints have been registered against them. I could not find any negative reviews on the web and my experience has taught me when a site is a scam or is not functioning as it should the online community typically will ban together and leave nasty reviews wherever they can.

Negatives

The free trial period costs $1.00, which I know is not going to make or break anyone, but ultimately it is not free, and this bothers me. The $39.95 monthly fee also seems a bit hefty to me, but I guess if you can get the information out of the website that you want in a month and cancel in time so you are not paying any additional months it might be worth the $39.95.

The Foreclosure Debacle

Foreclosures continue their upward climb and the media continues to report the worst the real estate industry has to offer. The latest news comes amidst reports that California has reached a record number of foreclosures. Reports across the board are also reporting foreclosures increasing nationwide.

According to an article published on July 23, 2008 by Reuters, foreclosures in California set yet another record. The article titled, “California foreclosures jump to 20-year high,” leaves not a whole lot of room for interpretation. Here is a snippet from the article, “Foreclosures in California in the second quarter totaled 63,061, marking their highest level since the real estate information service began tracking them in 1998.”

Another article from the Los Angeles Times offered a similar synopsis with an article woefully titled, “Record home losses in California.” The article written by Peter Hong continues by stating foreclosures have been the highest since the data provider began reporting foreclosure figures, specifically, that the reporting agency “began tracking foreclosure data in 1992.”

One article states the foreclosure reporting agency began tracking in 1998 while the other states they have been tracking since 1992. Considering this, foreclosures could have then reached a record since 1992 or since 1998. Either way, while foreclosures may have peeked since 1998 (or 1992), the media fails to report that the actual record was conveniently before both those dates during the savings-and-loan crisis of the late eighties and early nineties. Finding an article that mentions this is not the worst foreclosure crisis the country has seen is like finding a needle in a haystack.

Foreclosures and Tax Deeds – A Future View

Foreclosure and Tax Deed sales are poised to offer a glut of investment opportunities through the United States. Statistics and emerging trends are proving the point I made six months ago that the greatest investment opportunity in the USA right at this moment is to invest in real estate through Tax Deed sales. Let us examine why this is so.

Zillow.com, a real estate trend tracking site, has hard figures that show that over 3 million homes are either in foreclosure or will enter the foreclosure process in the very near future. In fact, in as little as the next six months, and by the end of the second quarter of 2010, most will be in foreclosure. This trend, based on available statistics, is only the tip of the iceberg! As in the terrible tragedy that befell the Titanic, it is what is hidden under the water that ultimately sinks the ship.

Available statistics only show the visible iceberg, while the real story of Tax Deed and foreclosure sales remain underwater, or put another way, under the radar, where the statisticians can not see the blips yet of the emerging disasters of new foreclosures. News services are starting to report a frightening new trend that is causing the banking and financial sectors to freeze up due to the implications.

Simply put, people who have been suffering from the scams the banking and lending industry imposed upon them in years past, are fed up with the Fed, the bailouts of the banks and other lenders, and the lies that they told, to the point that they are now reacting in a negatively real and tangible way. When they find that they are getting behind on their mortgage payments and are facing certain foreclosure, they take matters into their own hands, and they bail out – literally!

Lenders are now receiving in the mail, in ever increasing numbers, the keys to abandoned homes! Often the homes are gutted of all valuable and profitable fixtures such as air conditioning, kitchens, bathrooms, and even expensive copper wiring. Not all homes suffer from this, but a percentage of the homes will, depending on how angry the long suffering former owners were at the time of them abandoning the home. However, a large number of unadulterated homes left in good condition will also be abandoned, and ultimately added to the mad mix of the foreclosure glut.

Another trend that is scaring the hell out of lenders is the judiciary imposing a ‘burden of proof’ upon the banks or mortgage holders to produce the ‘original’ mortgage document. Most lenders cannot produce this original document due to the Wall Street practice of ‘bundling’ loans and reselling them to foreign investment groups.

The unfortunate consequence of this is that if the lenders cannot produce the original document, they have no proof that they own the loan. The proof is lost in the mix of their making, and they are reaping what they have sown. Banks are starting to lose in the courts, often with the judiciary awarding the borrower the home debt free! The system is in shock and the banks are stuck. They knew this was coming and this is the very reason why the governments bailed them out.

Now for the good news, as every dark cloud does indeed have a silver lining. Given the average redemption period of two years that most counties impose upon the property owner to pay the property taxes, and given that big finance is frozen on the spot, and not willing to pay the taxes owed, foreclosed homes are going to emerge in greater numbers at Tax Deed sales!

All kinds of homes, in good and not so good condition, are going through the Tax Deed sales process throughout the United States right now, and in the near future. Get ready for the Tax Deed boom!

Foreclosure Cleanup Industry – White-Glove Versus Broom-Swept Cleaning

Foreclosure cleanup companies handle the maintenance, securing, and cleanup of homes after they have gone through foreclosure. This low-cost startup industry is burgeoning as more and more homes are being foreclosed upon. And, with the next wave of adjustable rate mortgages destined to hit the market soon, there is no end to the foreclosure crisis in the immediate future.

A big part of the foreclosure cleanup industry’s services focuses on, quite naturally, cleaning. There are two distinct types of cleaning in the foreclosure cleanup industry: White-glove and broom-swept. Not knowing the difference can cost a company cleaning foreclosures dearly in time, money and reputation. Let’s visit the two types of cleaning.

White-glove Cleaning

White-glove cleaning will include washing windows inside and out (including window sills), cleaning baseboards, appliances (including pulling out appliances and cleaning underneath), clearing spider webs from ceilings and closet interiors, scrubbing bathroom tile, mirrors, pulling out drawers and wiping them down, wiping all exterior surfaces, shampooing carpet, waxing floors, cleaning ceiling and floor vents, washing ceiling fans, meticulous corner-to-corner details, and on and on and on. There are so many details when it comes to white-glove cleaning; a checklist is a must for new staff so they know what you expect as the foreclosure cleaning business owner.

Hire Pros for White-glove Cleaning

A white-glove cleaning job really requires cleaning professionals. You really can’t just send anyone to a site when you get a call for a detailed job such as this. As a foreclosure cleanup company, you will also charge considerably more when you’re cleaning a foreclosure under the white-glove services heading.

Who will Purchase White-glove Cleaning?

In many instances, a foreclosure home being purchased by a buyer will require a white-glove cleaning, because someone is likely getting ready to live in it. Rarely will a foreclosure just sitting in a bank’s inventory of foreclosed properties call for this type of detailed cleaning — unless it’s a high-end property with lots of buyer interest.

Overview of Broom-swept Cleaning

Most cleaning of foreclosure properties will call for broom-swept type cleaning. This type of cleaning is what I like to call “dry-rag” cleaning (not a literal dry rag, but you get the point). With broom-swept cleaning, you simply complete a surface clean, wipe and scoop: the floors are swept; the kitchen, bath, and living areas are wiped down, and the home or unit is left free of debris. Generally, broom-swept cleaning is a lite clean, wipe and scoop service.

However, note that many of the larger REO-type contractors have very detailed expectations when it comes to cleaning a home. So if you’re a subcontractor, you will be given specific details on what a particular larger contractor expects when it comes to broom-swept cleaning. Some companies expect more detail in this type of cleaning than others, so be sure to ask for checklists if you’re working for a primary contractor.

Clarify What the Client Wants

When a foreclosure cleanup clients calls and asks for a cleanup estimate, make sure you clarify what they’re asking for before you head to the property to give the estimate. Do they really want white-glove cleaning; or do they mean broom-swept?

Take the time to clarify what the potential client is asking for so you don’t do two things:

1. Clarify so you don’t overprice a job. For example, the client may simply want a quick broom-swept job and you could give an estimate for white glove because you have not asked them specifically what type of cleaning they require.

2. Clarify so you don’t under price and under deliver. For example, if the potential client is a buyer, they likely want white-glove, but they will love your low price if you misunderstand and quote them for a broom-swept job. By the same token, that same buyer will be disappointed at the finished product if you give them broom-swept service when they expect white-glove.

Many times your clients won’t know what’s entailed in each type of cleaning. Explain to them so they have full knowledge and you all are on the same page when it comes to service and pricing.

Review Your Company’s Policies

Review your foreclosure cleanup company’s policies, procedures, marketing materials, website, and pricing structure as it relates to cleaning services. Are your services as it relates to foreclosure “cleaning” clear? If not, change them so you move forward delivering what the client expects and getting the price you deserve.

Good luck with your foreclosure cleanup business!