reo: Budget, Budget, who's got the budget???
- 01/04/10 03:54 AM
Every year at this time I have to sit down and think about what to spend my REO budget on again. RES.Net & reotrans (now equator), and web sites are always at the top of my list but there are TONS of other sites and some look good but I don't have enough feedback to make an informed decision. Others looked good last year but didn't make the cut in production so I won't buy those again. Many are affiliates (read: owned by) the banks, asset managers & other interrelated companies and others lead to bpo business only and nary an REO … (9 comments)
reo: Buyers Agent - Where's the Nar updates for foreclosures??
- 08/15/09 11:12 AM
There's absolutely no doubt that the ABR designation is a very valuable one that the NAR and all realtors recognize. These are changing times though. As an agent doing a good many REOs both as listing and selling agent I see both sides. The frustration that the selling agent feels when the bank is unresponsive can be huge and is sometimes taken out on the listing agent as if they were somehow responsible. Some listing agents seem to ask for it too. How many reo listing have you seen that say 'offers only accepted by e-mail. No calls. If listing says … (4 comments)
reo: Who's your Daddy?? (or your seller)
- 06/22/09 02:30 PM
I don't know of a single agent who would call you about one of your listings and ask "Who's your seller? Why is it then that so many agents feel perfectly comfortable calling an REO agent about a foreclosure asking "Who's your bank?" It didn't used to be quite so prevalent but I think that there are a lot of hungry agents out there. I know several who are singing the blues here in the Lake Oconee area and suddenly this market segment is looking pretty good to them. Well, that's fine. Welcome aboard. But be prepared to do your homework and pay … (5 comments)
reo: Lake Oconee Trends - Come get a Condo.
- 06/09/09 01:36 AM
Hi Trendwatchers, Time for an update. As I'm sure you know, it continues to be a slow market here on Oconee and things have dropped on Sinclair as well. So far by the end of April, there were a total of 13 lake homes sold in the Oconee area mls compared to 31 by that time last year. Despite this fact, the number of active buyers looking is encouraging but they continue to make unreasonably low offers and more contracts have blown up than ever. Many of the contracts being written simply aren't worth the paper and ink it takes … (0 comments)
reo: What part of AS-IS.......the flip side of the deal.
- 02/10/09 02:41 AM
My post about what part of as-is don't you understand got some very good responses regarding the difficulty we all occasionally have getting clients to really understand that the bank doesn't want to do anything at all to the property. There is a flip side to this though. What do you do when the bank hasn't reduced the price to investment grade but there are structural or code violations that insure the fact that a lender won't approve a loan on the property. This can kill a deal quicker than a bullet. The most recent one I worked on near Lake … (4 comments)
reo: BPOs They're getting cheaper-How about yours??
- 01/18/09 04:47 AM
I do a fair amount of BPOs in my area and have about 20 companies I deal with most frequently. Lately, I noticed that some providers are reducing their offered payments for these. Some have gone as low as $45 which scarcely makes it worth the time and effort. Lake oconee where I am is in a very rural area and the drive isn't worth it. I have always wondered what these folks are charging the end user and from the variations in payment that I get on the same properties, I have to feel that it's a bundle. I told … (10 comments)
reo: What part of AS-IS don't you understand???
- 01/01/09 04:03 AM
I do a good bit with REO properties as well as relocations and as anyone who has ever worked these knows, they are always sold AS-IS. These are pretty much the first words out of my mouth when I show an REO to a client or even tell them about one. These seemingly normal people who appear to comprehend English both spoken & written will tell me repeatedly that they understand that it is AS-IS. But.............it seems almost inevitable that at some point in the process they will start asking for repairs, allowances and frankly stupid stuff. Here we have a … (8 comments)
Every year at this time I have to sit down and think about what to spend my REO budget on again. RES.Net & reotrans (now equator), and web sites are always at the top of my list but there are TONS of other sites and some look good but I don't have enough feedback to make an informed decision. Others looked good last year but didn't make the cut in production so I won't buy those again. Many are affiliates (read: owned by) the banks, asset managers & other interrelated companies and others lead to bpo business only and nary an REO … (9 comments)
;)
;)
