To BPO or not to BPO: In defense of the BPO's place in valuation, part 2 - 07/06/11 09:26 PM
Once they actually start getting listings, most REO agents do not have time to do paid BPOs. That often leaves relatively inexperienced agents to do BPOs; and, of course, inexperience in any form presents danger. I do shudder each time one of my listings or pre-lists has to be scrutinized by a random BPO agent, because so many of them know little to nothing about the realities of the REO market. The prospect of a poorly done BPO also increases exponentially with the distance between the BPO agent's office and the subject property. (Then again, I could say exactly the same … (6 comments)

To BPO or not to BPO: In defense of the BPO's place in valuation - 07/05/11 10:43 PM
The BPO has a distinct place in the valuation process. The perspective of a real estate agent is different than that of an appraiser. Appraisers, after all, never actually walk into a house with a prospective client, something agents do all the time (or at least, presumably, do).The agent, like the appraiser, uses facts to arrive at an opinion of value. Neither evaluator has a crystal ball or employs wizardry.
An appraisal's emphasis relies heavily on recently sold properties and physical value. When an agent prepares either a CMA or a BPO, comparables are pulled from both currently listed and recently … (6 comments)

Stop Foreclosure NOW: Are real estate agents scammers? - 07/02/11 12:51 AM
AVOID FORECLOSURE! I see the billboards. I see it on the internet. I see the ads for agents who claim to be foreclosure prevention experts. And while those claims are technically correct, I believe many of the advertisements are misleading and purposefully so.
The billboards appeal to homeowners who are in danger of losing their homes to foreclosure. Hoping against hope, these borrowers pick up the phone and call the number. They then learn that the person smiling back from them on the billboard is a short sale agent who wants to list their home for sale, not a person who … (17 comments)

 
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Liz Lockhart,GRI, Cape Girardeau Real Estate

Liz Lockhart, Riverbend Realty broker/owner

Cape Girardeau, MO

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Riverbend Realty, Cape Girardeau, MO

Address: 303 N. Fountain, Cape Girardeau, MO, 63701

Office Phone: (573) 651-0777

Cell Phone: (573) 450-0777

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Life's journey and all things real estate-- REO, short sale, buying homes, selling homes, listing homes, buyer agent, seller's agent, relocation


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