BrokerIPTV Real Estate News and Videos

BrokerIPTV : Today we are talking with Josh Ruth from Fuller Towne and Country Properties. Josh thanks for being with us.

Josh Ruth : Hi you are very welcome. Thank you for having me.

BrokerIPTV : When you started out you were listing seven homes like every other Realtor out there, but now you are more into a new area you are like a foreclosure guy in Fuller Towne and Country.

Josh Ruth : Well I still do my regular business, regular sellers and buyers. But back in New York my family owned a real estate company. And we had office space and one of our tenants became Countrywide Home Loans. So out of the process of negotiating the lease and what not their in-house broker asked if there is something I would be interested in looking into, so I said sure and didn't think much of it. When I came back to Denver and started looking through the MLS [phonetic] there is quite a few of them. So I got in touch with Countrywide the lender that I used for most my buyers and he got me set up and I went from there.

BrokerIPTV : Is it hard working in this business I mean some realtors are saying themselves, you are working with people who are getting kicked out of their house. They have been kicked out of your house, what's up with them?

Josh Ruth : Not that bad, honestly I don't come in until after that whole process is done with, so I am not involved in any of the legal matters or evictions for the most part. I just kind of separated by luck at his corporate owned property and lender owned homes. That's owned by a bank or a corporation and they hired me to sell it.

BrokerIPTV : The other thought is that you are driving in depressed areas of town. You have seen some really dilapidated beat up properties. Is that all true?

Josh Ruth : It is I mean there are REO properties in the Metro Denver area that range anywhere from $20,000 condos, but up to $3 million homes. I mean there are homes in neighborhoods that you wouldn't expect, foreclosure that affects every income level. Lot of large percentage foreclosures are nothing to do with interest rates, their medical emergency or loss of their job. So anywhere from your role up to show his village

BrokerIPTV : Hard part of the business and good part of the business.

Josh Ruth : Hard part of the business is that you get a lot of low ball offers and it's not as quick you don't necessarily deal with the other in a day because it takes a little bit more time. They get stuff pushed through from the sellers endpoint there is a lot more paper work. The good part of the business is there is a lot of business meaning they are good clients. They keep you busy. And just like any [inaudible] REO company that's lots of people moving in. They keep feeding in, you get some good stuff, you get some bad stuff.

BrokerIPTV : Buying any for yourself?

Josh Ruth : Can't actually.

BrokerIPTV : Really?

Josh Ruth : Lot of them will require you to sign a message that you will not buy your own REO properties. Reason being you help to serve in the pricing for these properties. So you never want to get caught up in "Oh, did you price that low, so you could buy it. It's kind of a conflict of interest.

BrokerIPTV : Fascinating, thanks for being with us.

Josh Ruth : Very welcome...

BrokerIPTC : Appreciate it.