Persinger Properties, a San Diego based real estate brokerage has severed its relationship with Cardinal Financial Group a San Diego based real estate investment firm which purchases homes for resale. According to Joel Persinger, Broker & CEO of Persinger Properties, the focus of the two companies had become incompatible.
“As a real estate brokerage, our first concern is for our clients”, said Persinger. “After having worked with Cardinal Financial, we determined that their focus was less on helping our clients and more on increasing their revenue as a company. That had the effect of placing some of our clients at risk and we simply could not allow that”, Persinger said.
According to Persinger, while it is very positive to have an investor involved in the short sale process, the investor’s total income is derived from buying and then reselling the property. As a result, the investor can be hesitant to step out of the way so that the property can be sold to the public when the transaction starts to experience problems. In many cases, the property cannot be sold to the public until the investment firm releases it grip on the property. This can place the homeowner at serious risk of losing the property to foreclosure.
“We simply needed to make sure that everything we do is in the best interest of our clients and working with Cardinal financial, although they’re good folks, no longer fit that description”, Persinger said.
Tuesday, January 20, 2009
Monday, March 24, 2008
PERSINGER PROPERTIES AND CARDINAL FINANCIAL GROUP WORK TOGETHER TO HELP DISTRESSED HOME OWNERS.
Persinger Properties, a San Diego based real estate brokerage and Cardinal Financial Group a San Diego based real estate investment firm which purchases homes for resale, have agreed to work together to help distressed homeowners avoid foreclosure.
“These homeowners owe more on their homes than the homes are worth”, said Joel Persinger, Broker & CEO of Persinger Properties.
With the current foreclosure crisis and more foreclosures expected in the coming months, Persinger Properties clients were in desperate need of a better solution than simply letting their homes go into foreclosure.
“The folks we’re seeing in these situations have tried every possible alternative. Typically, they’ve attempted refinancing or negotiating a better loan arrangement with their current lender. Failing that, many have tried selling the homes themselves. Nothing has worked. We decided to work with Cardinal Financial to buy the homes and negotiate a better solution than foreclosure for the homeowners. Cardinal has made a science of this… and the bottom line is that they offer a better solution for our clients in many circumstances,” Persinger said.
“These homeowners owe more on their homes than the homes are worth”, said Joel Persinger, Broker & CEO of Persinger Properties.
With the current foreclosure crisis and more foreclosures expected in the coming months, Persinger Properties clients were in desperate need of a better solution than simply letting their homes go into foreclosure.
“The folks we’re seeing in these situations have tried every possible alternative. Typically, they’ve attempted refinancing or negotiating a better loan arrangement with their current lender. Failing that, many have tried selling the homes themselves. Nothing has worked. We decided to work with Cardinal Financial to buy the homes and negotiate a better solution than foreclosure for the homeowners. Cardinal has made a science of this… and the bottom line is that they offer a better solution for our clients in many circumstances,” Persinger said.
Monday, December 3, 2007
EAST COUNTY REALTOR LAUNCHES VIRTUAL BROKERAGE
Joel Persinger, East County real estate broker and founder of YourRealEstateDude.com has launched Persinger Properties, a real estate and lending firm that doesn’t have an office!
With the growth of internet, wireless, cell phone and portable printer/scanner technology, a real estate client no longer has to go to the agent’s office. Instead, Persinger’s agents simply take their office to the client.
“I can’t remember the last time I actually had a client come to the office,” Persinger said. “The vast majority of the time, we go to them.”
This approach has been good for both the clients and the company. Persinger says clients like the extra level of service. “It’s like the old days when doctors still made house calls.”
It’s also freed up money the company would rather spend elsewhere. “I’d much rather spend money on services our clients appreciate,” Persinger said. “Why spend money on a building they never see.”
With the growth of internet, wireless, cell phone and portable printer/scanner technology, a real estate client no longer has to go to the agent’s office. Instead, Persinger’s agents simply take their office to the client.
“I can’t remember the last time I actually had a client come to the office,” Persinger said. “The vast majority of the time, we go to them.”
This approach has been good for both the clients and the company. Persinger says clients like the extra level of service. “It’s like the old days when doctors still made house calls.”
It’s also freed up money the company would rather spend elsewhere. “I’d much rather spend money on services our clients appreciate,” Persinger said. “Why spend money on a building they never see.”
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