Bank Owned Homes in Brentwood Ca 94513 - Does buying a BANK OWNED home support the greed, fraud and bailouts of the banks?

I entered into an interesting debate fueled by  a question i saw in Voices, that if you purchase a bank owned property, "Are you supporting the banks, financial institutions, fraud, bailouts and greed that created this recession? As a leading listing agent of Bank Owned Homes in the Manchester NH area I have some ideas and insight form dealing with these same institutions on a daily basis.

First in my opinion you are not supporting the bank by when you purchase a reo. You are supporting the neighborhood who will have an owner occupied home with someone taking care of it's maintenance, cleaning up an usually un-maintained home. You will support the local economy by buying goods and service to clean, repair and furnish the new home.

As far as the 'Banks" there are some very good ones to work with, i am lucky to work with some banks that have very good employees who assist with the whole listing and selling process. I have seen some other banks including Freddie and Fannie who make the process much harder than it needs to be. It is hard on the agents and on the potential buyers. From giving too many listings to only a few agents that can not possible service each and every one  of them. There are agents who do not return calls or emails, do  not answer questions, do not show up to show the property and do not update any offers you submit. This is the dark side of REO.  On the other side there are some very good REO agents and those are the ones that helping the housing industry in it's recovery.

So what do you think... Are you supporting the banks, financial institutions, fraud, bailouts and greed that created this recession?




If you are looking to buy or sell a home in New Hampshire, please call us first. We strive to provide the best in personal and professional service through each step of the buying and selling process.

If you owe more than your house is worth or are behiond on your payments, we may be able to help.

PLEASE SEE MY INDUSTRY LEADING BLOGS:

HOW A SHORT SALE WORKS?

http://actvra.in/hyn

FULL LIST OF TIPS AND ADVICE ON GETTING A MORTGAGE

http://actvra.in/hym

 

 TIPS AND ADVICE FOR BUYING A BANK OWNED HOME

http://actvra.in/hyp

'Is it possible to sell a home too fast?"

http://actvra.in/jlM

ONE OF NEW HAMPSHIRE'S LEADING BANK OWNED REAL ESTATE AGENTS

Updated  October 1, 2011

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Scott Godzyk
Owner/Broker
Godzyk Realty Group

One of New Hampshire's Leading REO Brokers

www.ScottSellsNH.com

Copyright 2008-2011, All rights reserved