During my 25 plus years of corporate life, before starting my real estate career, I had the opportunity to hire, mentor, promote, and unfortunately sometimes fire employees.  What helped me during some difficult discussions with people was a phrase I truly believe in and it helped to keep discussions on the task at hand:  "This is Business - It's not Personal."

Today in our Las Vegas Real Estate market we work with buyers and investors interested in purchasing properties where the owner has defaulted.  At any given time we have over 5000 Bank Owned REOs out of 20,000 listings.  We see properties in every condition imaginable.  In some cases the sellers were obviously very angry as they left their homes.  Holes kicked in walls and doors is relatively common.  Built in appliances, smoke detectors, and sometimes plumbing fixtures have been removed before the owner departed.  One recent listing had bullet holes through windows and the ceiling. 

Every now and then we see bank owned homes that have been meticulously maintained and show the pride the homeowner had before they had to leave.  Many times I will have a prospective buyer or investor comment that they feel badly for the owners who had to leave their home.  At first I wasn't sure how to respond to this heartfelt comment.  Today I tell my prospective buyer or investor "This is Business - It's not Personal." 

Markets go up and markets adjust and go down.  Properties that once sold for $150 to $250 per square foot are now listed for under $100.  The misfortune that many homeowners are experiencing in this down market end up being great opportunities for buyers and investors. Purchasing and selling real estate is a business transaction, it is not personal. 

If you are interested in learning more about Las Vegas Bank Owned opportunities please call me:  (702) 325-2769.