This is the week for just flat out telling it like it is.   I have built a good reputation with my clients and prospects.  I hope it is good enough for them to get the "way it is" email without opting out.  Every time I email my prospects I get a good response, but this is a little out on the edge.  Cross your fingers...........

March 12, 2007

No passive advertising emails this month.  There is no time left.

In the past 4 days I have read multiple articles about the evaporating of the Sub-Prime Loan Market and have read multiple articles about stagnant property sales.  I have also reviewed the projects that my brokerage division is working on. 

Last week I talked to 2 Columbus lenders who collectively had over 150 single family REO properties in inventory.  They are "working on moving forward"

Here is the 2 x 4.  Foreclosure rates are up and inventory (competition) increases on a daily basis.  The market is soft and getting softer.  The money is tight and getting tighter.  It is going to be worse before it is better.

If you have REO inventory on hand, get it on the market TODAY.  If you have REO inventory that has been on the market for a while, consider your AUCTION OPTIONS TODAY.  If you have workouts that might not work out, maybe you can consider receivership options.

This situation may not be as pronounced in other asset classes, but the lower end, sub-prime, inner city market is the worst I have seen anywhere in 12 years.

If you need help getting your portfolio managed, brokered or auctioned, call us.