While in search of my next niche..... it wasn't hard to figure out that REOs are the way to go. As many of you know my daughter and I specialize in Short Sale listings and have been able to help most of our clients obtain a short sale successfully. And we do believe that Short Sales are here to stay for a while (at least until this foreclosure problem lightens up or better yet goes away).
However, there is a larger monster coming around the bend and it is coming at high speeds! Actually, it is here in most areas. It is called REO - Real Estate Owned by the Bank and sometimes referred to as Foreclosed properties. See my post: What happens to the owners after foreclosure? Since the banks and lenders are so reluctant to give the approval stamp for a short sale, they now have an over supply of REOs that will need to be sold.
So that is where I come in. I am an agent that is focusing on REO properties. I have updated my resume so to speak. And there is no better way to jump right into the REO market than to just jump right in. Check out my post on: Bank Owned vs. Short Sales vs. Regular Sales I am also focusing on buyers looking for REO properties. BUYERS WANTED.
If I had my rather, I'd rather see the homeowners get a short sale approval (if they just have to sell) so that they at least receive the relief of not getting hit so hard on their credit. If you have read my post on Short Sale: Noted Benefits. The FICO score hit for a short sale is sufficiently lower than that of a foreclosure. Short sale will cause a 80-100 score drop while a foreclosure will bring about a foreclosure can bring from 250 to 280 drop. Please check out the entire foreclosure process so that you will understand what happens from both the short sale and the foreclosure process: The Raw Facts on Default, Pre-Foreclosure, Short Sale and Foreclosure
However, the number of REOs are up in the San Joaquin Central Valley area which does include Stockton, CA. And since that is my area.... I am making sure my niche change with what's going on in my area. So I went off to REO school, so to speak. Getting back to basics on attracting buyers and listing REO properties is my goal to add to the short sale specialist niche I already have in place.
YES! We are still doing short sales of course and will do our very best to help our clients as best we can to obtain a short sale approval instead of a foreclosure - that priority. And from the REO side we will try to find potential buyers already foreclosed homes for purchase.
Need a Short Sale Specialist?
Want to purchase a REO property?
Need information on the foreclosure process?
Give us a call today! 866-750-8282
For a FREE MARKET EVALUATION of your home Call us or visit http://www.motheranddaughterrealty.com/
Check out: Real Estate Terms/Definitions. And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Perfect Financial Solutions and we also focus in Short Sales and the Pre-Foreclosure process. Our consultations are free. Our aggressive marketing plan includes on-line listing advertising. If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call. If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.
Check us out on website: http://www.motheranddaughterrealty.com
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