Can We Do a Short Sale BPO With Two Comps - 11/24/08 04:08 PM
Question:I have a property we "sold" at auction in August that has $588,500 owed on the first and $227,000 on the second that has been in 'Short Sale Purgatory' going on 4-months.We submitted a complete package to the lenders for a short sale and have been going back and forth since then over the value and they are just not ealing with reality.They had a BPO done that came in at $950,000 in August and since that was so far off they (AMTRUST)  ordered an appraisal in late September that came in at $640,000 and they are calling $640 FMV and dancing that … (10 comments)

Foreclosure Auctions Are *NOT* Conducted by Professional Auctioneers - 11/17/08 12:34 PM
I am a full time real estate auctioneer and one of less than 350 people in the USA who is certified as an Accredited Auctioneer of Real Estate by the National Auctioneers Association and would like to comment on the foreclosure crisis. 5,300 American families are losing their home to foreclosure each and every day; it's a fact not fiction. Every property that is foreclosed must be offered at a mandatory foreclosure auction. That's right 100% of the properties going through foreclosure must be offered at public auction, yet the foreclosure process is broken at the auction and can be easily … (5 comments)

 
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Billy Burke, CAI - AARE

Rancho Mirage, CA

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The Auctionarium, Inc

Address: 69930 Hwy 111, Suite 119, Rancho Mirage, CA, 92270

Office Phone: (760) 328-7570

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Commentary on the American real estate market from an auctioneers point of view.


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