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reos: CMA's, BPO's and Appraisals: How do Lenders Use Them and Why? - 10/24/09 02:13 PM
BPO's, CMA's, and appraisals are all used to help different parties figure out some form of "fair market value". I think their definitions are adequately covered elsewhere -- what I am most interested in exploring in this post is their use, particularly by banks / lenders.Before any money exchanges hands in a loan, lenders require a satisfactory appraisal on file, showing that the home's theoretical "value" is equal to or greater than the amount of the loan.Then, before a home is placed on the market for sale, the listing agent (if they're doing their job) prepares a CMA with a list of comps … (0 comments)
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reos: Pickens County Georgia Foreclosures: Bank-Owned Homes in Jasper Area Show Increase - 01/06/08 11:11 AM
A previous post I published on foreclosures in Jasper Georgia and surrounding parts of Pickens County (Tate, Nelson, Talking Rock, Marblehill, Ranger, etc.), argued that the foreclosure numbers for Pickens weren't any cause for alarm. I still maintain that position, but unfortunately, the statistics are looking a little less favorable . . . for home sellers anyway.
In that earlier foreclosure post (on a different pickens county real estate blog), I placed the number of bank-owned homes listed in real estate at 11 houses out of 651 on market, or 1.7%. As of this writing however, that ratio now stands at 17 out of … (0 comments)
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reos: Big Canoe Foreclosure Homes: Not Time for Panic (no matter what the media tells you) - 01/05/08 10:50 AM
As an upscale gated-community, Big Canoe, Georgia, might seem otherwise impervious to the problematic rash of foreclosures that is sweeping the nation. And, to an extent, this appears true. While Big Canoe routinely has foreclosure homes for sale listed in real estate, unlike its sister community, Bent Tree, the trend in Big Canoe doesn't seem to be in any way more exaggerated in the present market, over previous years. At least for now.
Recent notices of public sale on the Dawson County or Pickens County courthouse steps of Big Canoe properties, suggest we may see a slight up-tick in the near future. Of … (0 comments)
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reos: Bent Tree Foreclosure Homes: REO's On The Rise . . . - 01/04/08 10:36 PM
The community of Bent Tree in Jasper, Georgia, has been fortunate to escape an abundance of foreclosures on the market over the past couple of years. Tax lien sales have been a far more frequent issue (and a means of obtaining Bent Tree property for below market value) than distress sales . . . usually on building or membership lots for which owners no longer wantedto pay HOA fees and taxes. We have to go back to 2005 to find any REO listing sales. Those three however, presented quite a bargain on Bent Tree homes for some lucky buyers. Two sold at discounts from 66% to 72% off list price, while … (0 comments)
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Trent Cluley -- Pickens County Georgia Real Estate
Jasper,
GA
More about me…
Keller Williams Realty - Select Partners
Address: Jasper, Tate, Nelson, Ranger, Talking Rock, Canton, Ball Ground, Bent Tree, The Preserve at Sharp Mountain, and Big Canoe, GA
Office Phone: (678) 493-2100 x 309
Cell Phone: (770) 757-3399
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