In 2008, from June through October, each month I attended a different Default Conference across the country. As early as last June the bankers at those conferences were saying that the Reo wave would crest the end of 2009 and finally a couple of weeks ago on 20/20 there was a show saying the same thing.
For those of us in the REO trenches we had a lull during the holidays but we are back at work now and busier than ever. The good news is that buyers are coming to Florida. Good news is that the FHA Streamline program is custom made for REO homes that need rehab and Wells Fargo and Countrywide has these programs and are thrilled to help your clients with preapprovals on REO properties.
In Volusia and Flagler Counties I'm seeing a lot of multiple contract situations as houses are dropping into the $50k-$60k price range which means for investors that these homes will cash flow once again so I'm expecting a great snow bird season.
If you are looking to connect with a team of REO Experts, you have come to the right place. If you are in real estate and you aren't making any sales, you need to call me as I have more buyers than we can handle. We are cranking up some seminars that will insure a constant lead flow system that will keep my agents showing and selling. Call me: 386-299-6393. Only positive and agents who want to work need apply.
Wishing you sunshine,
Janet Fetterman, Broker Associate/Owner
Concord Real Estate
REO Specialist
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