Also serving the communities of De Luz, Rainbow, Camp Pendleton, Pala and Pauma

Sunshine Properties specializes in bank-owned properties

Sunshine Properties GMAC Real Estate has developed a reputation for providing their clients with superior service with efficient results.

In times where the real estate market has made a sharp shift, Sunshine Properties hasn’t missed a beat with its advanced certification and knowledge in bank-owned properties.

A number of seasoned agents at Sunshine Properties are certified in REO (bank-owned) properties, giving them an edge in the current market.

Samee and Ralph Foster, owners of Sunshine Properties, describe today’s market as “difficult.”

“It’s a fantastic market for buyers wanting to get into the market, but it’s a challenging time for sellers who have to sell in this market,” Samee said. “For buyers, they have low interest rates and the best prices.”

The current market is perfect for first-time buyers and those wanting to pick up an investment property. Bank-owned homes are providing many opportunities for serious buyers.

The Realtors at Sunshine Properties are handling foreclosed property transactions from Southwest Riverside to North San Diego counties.

“In Moreno Valley you can buy a three-bedroom, two-bath home for $50,000,” Samee stated. “There are deals out there.”

According to Samee and Ralph, they have had serious buyers walk into their storefront complaining that none of their bank-owned offers were accepted by another agency representing them.

“These people couldn’t get a house and that is because their agent didn’t know how to write up an offer in the language that the ‘asset manager’ understands,” Samee explained. “We know how to write it up and put these packages together.”

Samee and Ralph said that they receive bank-owned property listings from the different asset managers with whom they work.

Once a bank gets a property back, they hand it over to an asset manager, who then assigns it to Sunshine Properties. In essence, Sunshine Properties understands the bank-owned “lingo.”

Dealing with foreclosures is a completely different type of process. Bids take longer for response times and escrows can take up to three months.

“You have to be patient if you want a bank-owned property, and people need to work with a broker who understands REO properties,” said Samee.

These delays, she explained, have to do with asset managers being out of state, and in some cases, the banks involved are located overseas.

On an interesting note, when Sunshine Properties is given a bank-owned referral listing, it has only 24 hours to return a response.

Within this short timeframe they must investigate the property, take pictures of the residence, fill out preliminary forms and send them back to the asset manager.

“We can get a dozen at a time and we get graded,” Ralph said.

Sunshine Properties is called one of the “preferred brokers” because their grading scores are at 100 percent. This includes their monthly reports to the asset manager.

“Our job is all about trying to help the banks get their inventory moved and to do it in the most efficient way,” Samee said.

And the property listings at Sunshine Properties are moving, Ralph said, because they are being priced correctly.

Another great feature of Sunshine Properties is their in-house mortgage brokerage, Meridean Financial. Both companies work in sync to ensure that each transaction runs smoothly.

Along with buyer pre-approvals, Meridean Financial is also offering the golden DU (Desktop Underwriting) approval.

“We have really refined our expertise,” Ralph said. “We are priding ourselves right now for doing twice the work for half the money.”

Sunshine Properties is located at 330 Main Avenue and can be reached by phone at (760) 728-8855. Their interactive Web site can be viewed at

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