What is the use of showing REO's? BY the time you place an offer after it is listed they always have 10-15 offers. Your client gets excited and they even bid higher than asking price but don't get the property anyways.

Buyer's now want to deal directly with the REO listing agent because they feel they have a much better shot at getting the home. I think there are some real ethical questions concerning inside information on REO properties.

I have found it a lot better to deal with a regular listing and negotiate them down close to the price of a foreclosure. Those homes are in much better shape anyways and makes for a much smoother sale.

For example a 3/2 REO single family home gets listed for 210K, they receive multiple offers and it ends p selling for 235K. Why not find the same home which is a regular sale for 260K and negotiate them down close to 235K?  Even if you spend a few extra bucks, almost always the home is in much better shape.

Chaz

 

It's getting a little bit better…
10/28/2009
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As a Full_Time Realtor® for the past 11 years I never saw a downturn like the one we saw in 2007. For about a year and a half I couldn't get anyone to consider buying anything. The newscasts predicted that the market would keep bottoming out for… more
Paying off your Mortgage in record time.
06/01/2007
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Is it possible to effectively pay off a 30-year mortgage in as little as 8 to 11 years? Most homeowners realize they will pay about twice the purchase price of their home on a traditional mortgage-a mortgage that will take about 30 years to pay off… more
Is the Real Estate Market bouncing back?
02/06/2007
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I have been reading a lot of articles like this one: http://southflahomes. com/blog/index. asp that says that the South Florida market seems to be bouncing back. I have noticed lately that I am getting more showings on my listings and more calls from… more
Real Estate coaching
11/03/2006
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I have heard from many Realtors that Real Estate coaches really work. I have never used a coach but am considering trying it out to see if they work. I know that some are affordable and others are very expensive. I would appreciate any comments on… more
The Tides are turning
10/23/2006
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The South Florida Real Estate market has been going down since the beginning of the year. One obvious reason is due to the torrid pace the market was going through during 2004-2005. Sellers were are trying to get more than the appraisal amount cause… more
Building bonds with Repair Technicians
09/06/2006
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Why do Air Conditioners only break at night? It always seems to happen that if an AC is going to break it will always break after hours when no repair technicians are available and if you can get someone to come out it will cost you an arm an a leg… more
My Sunday Thoughts
09/03/2006
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The other day I was thinking to myself this buyer's market that we are in can be good or bad for Realtors depending on whether you are listing type of agent or a buyer's agent. A lot of the listing agents I know are having a rough time right… more
Having a Producing Website
09/02/2006
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Having a website now in our business is mandatory. Statistics show that more and more people everyday search the Internet to purchase their next home and to sell their present home. I started my own website back in 1999 and although at the beginning… more
The Good Title company
09/02/2006
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When I first got into real estate back in 1999 I started using a Title Company I will call ABC Title and Escrow. They were the best they were very attentive to my clients needs, they charged very competitive fees and also gave me the best attention… more
 
Mena_chaz_2_

Carlos "Chaz" Mena

Weston, FL

More about me…

RE/MAX Premier Associates

Address: 2500 Weston Road, Suite 103T, Weston, FL, 33331

Office Phone: (954) 804-1284

Cell Phone: (954) 804-1284

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