We sell, and have sold, for nearly 14 years, REOs. We work for about 8-10 major banks and servicers and have been told that the REO actictivity will pick up; this has been said for about a year. Our observations are that that has not happened and the "quality" of REO has declined. What I mean by that is the condition is worse (as in many cases the property has been vacant for possibly years) and we are getting assignments for lower end prices. In 2008, our average sales price was $290000 and so far this year it is hovering around $165000.

 
Posted by David and Bonnie McIlvaine on 03/18/2010 06:42 AM   Comments (3)  
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Real Estate education
11/07/2009
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The attached is my speech ritten as the remarks after my installation as the President of the Greater Baltimore Board of Realtors: I would like to throw a few numbers at you: 60 and $700 OR 1200 and $15, 000. These numbers represent the hours… more
Provacative Documentary
06/13/2009
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This past week I had the priviledge to preview the moving documentary film called American Casino. This documentary "personalizes" the mortgage crisis and brings to light how the crisis has affected so many people. The producers began with an… more
Stats
05/20/2009
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When I first got in the real estate business on 1992, we were still the "gatekeepers" of the information… that is, we controlled the listings through the exclusivity of the MLS. Since then, we no longer control the information ( enter the internet)… more
Foreclosures
06/17/2008
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We recently had the experience of being interviewed by CNNMoney on the foreclosure situation and the process necessary to place a foreclosed property on the market. Thought you may be interested. http://money. cnn. com/2008/06/11/news/economy… more
Getting Better
06/15/2008
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Well… is it getting better out there? To the practicing Realtors(r), like myself, we understand that all real estate is local. We understand that… but in many cases the media does not understand that. I certainly do not want to wave the flag that… more
What are our values?
12/05/2007
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I have been practicing real estate sales for 15 years and in that time I have spent countless hours learning my craft, either through the numerous hours of classroom learning or the many seminars that I have attended. I have amassed very specific… more
Hot Topic
09/04/2007
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We happen to be at a neighbor's house over the holiday relaxing on their deck. Another neighbor from our condo unit (in Ocean City, MD) just happened to have sold their home and were moving into a home in need of rehabbing, however the home is… more
Foreclosures
08/24/2007
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About 40% of our total business is the marketing of foreclosure properties. We have done freclosures for about 8-9 years. It is an interesting niche in real estate sales and I have learned about this business almost daily. One observation concerning… more
Where are they?
03/30/2007
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In this most recent session, the Maryland legislature is attempting to tax services in order to increase the state's coffers. This tax would not only tax commissions, but also services such as: towing service, haircuts, escort service, surveys,… more
 

David and Bonnie McIlvaine

Ellicott City, MD

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Keller Williams Select REALTORS

Address: 3290 North Ridge Road, Ellicott City, MD, 21043

Office Phone: (443) 574-1602

Cell Phone: (410) 371-5233

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