Let me introduce myself….
LOAN ORIGINATOR NMLS#1466197 EQUITY REACH MORTGAGE INC.
Hello, my name is Joey Machado I was born in Riverside CA, and I grew up in Santa Maria from 1958 until 1975. My mother and father met in the United States Air Force around 1955. They were stationed at March Air Force Base where I was born in 1956. My parents moved to Santa Maria Ca., in 1958 where my Grandfather Joe F. Machado lived and worked in the dairy business. They were both in the barber business starting in 1956 in Inglewood CA. When they came to Santa Maria my Mother was able to find work 1st for a barbershop next to the Sid Young’s garage on Broadway. The first barber shop my parents opened was part of the Dino’s Liquor and Deli building at Main and College streets, next door the Playgirl beauty salon. Later in life when I was 15 and a half years old I worked for Dino Colli, but that is another story.
After my parents sold there first home on the corner of Walnut and Enos drive they bought a home at 1419 east Main street and converted the master bedroom into a barbershop, were the front door cut out is still prevalent. My parents separated and divorced in 1968 were my father moved to Las Vegas NV to start a new life.
Continuing to grow up in Santa Maria until 1975 when I moved to Las Vegas to go to school and spend time with my father. In 1973 my mother sold her home on Main street and bought a home on Tally Ho drive in Foxen woods subdivision.
Upon arriving in Las Vegas I attended a HVAC school called Education Dynamics Institute and worked in the air-conditioning field until 1977 when I explored other job opportunities and worked for Nevada Beverage company for the next 7 years, before moving to Reno NV. Upon arriving in Reno, I attended Sierra Nevada Gaming academy and started working in the Casino industry as a dice and black-jack dealer, later learning to deal all the games and eventually becoming a poker room supervisor.
I decided to expand my horizons in 2004 and receive my real estate license for Nevada, which I still hold today.
Getting back to Las Vegas and the story of my love of real estate comes from my early experiences with my father, I remember when I first moved to Las Vegas in the mid 70’s my father and his acquaintances and friends talking a lot about the high interest rates at 17% and even higher and being creative in how to get around these ridiculous rates with wrap around mortgages and other options. By the time of my father’s early passing in 1990 of Leukemia, he had acquired 7 properties in 3 states. For the years following my father’s passing at age 57, I was devastated and had a hard time dealing with anything resembling my dad’s first love after hunting that was real estate. PS… as a foot note I have not hunted any kind of animal ever since. Finally I had come to a cross road in my life that I needed to pursue another career before I got to old and set in my ways. So at 48 years old I got licensed and soon found myself working 6 and mostly 7 days a week and long hours, drowning myself in real estate transactions. I joined a Coldwell Banker firm that had 114 active agents in one office in Reno, in May of 2004. A few years later I was “Top Listing Agent” for 2007 with an average 13 listing maintained for that year. Those were interesting times with the housing bubble bursting and prices sliding after just a few years earlier I had jumped into one of the Hottest markets ever! I remember barley having time to put a sign in the yard and the word getting out around the water cooler that I might have a listing coming on soon and the day of the listing input on the computer I would receive multiple offers in just hours!
I can remember sitting on the “floor time” counter with another agent on a weekend, I believe it was a Sunday with an average call flow of 75 to 120 plus calls, in which most were for showing appointments for other agents, but I would receive 2 to 4 leads average. It was the early part of July 2006 and the phones just stopped ringing in the middle of our shift , this was very strange to us.
We had heard the rumors that the Las Vegas market had fallen flat on its face, like the “bubble Burst” as they used to say in the real estate and mortgage business, just a month earlier. How would that affect me I wondered, but I was soon going to find out. Nobody wanted to buy homes anymore for a few weeks it seemed like homes in escrow were falling out of escrow, a big part of the reason was appraisals were not matching contract pricing, my buyers on my hot sheet list wanted to wait a while to see what was going to happen to the prices. The news on every tv channel and papers, internet was saying the “bubble had finally burst” and these over inflated home prices were going to adjust and start dropping fast! Well within weeks I received my 1st short sale listing opportunity, how to go about this was a total learning curve since I feel I was the 1st in my large office to have to deal with this. This first week I placed it on the market with the new price adjustment from what was owed to the lenders of both the 1st note and the small second note, I had 13 accepted offers on the table , all signed by my sellers. But wait a minute, how can you sell one house two 13 different parties? Had I broken the law? As a brokerage firm, my broker couldn’t give me any answers, so I was scrambling with our legal hotline for the real estate division and the National and state association of REALTORS. Well bottom line I had to contact all the agents and brokers of those offers and according to their time frames on our receipt of those offers and get them to send an addendum to be in a second and third place position and down the line.
Well I’m going to bring this segment of the story to a close and you will have to wait until part 2, were we will pick up from were I left off to complete this interesting and fabulous love story that is what I call “Living the Dream!”
Joey Machado, REALTOR,CA DRE#01998103/ NV RE#0061028
Capitol Realty Investments, Santa Maria CA