foreclosures: 1004 MC Market Conditions analysis - 03/05/09 03:52 AM
Finally a good move from Fannie Mae who will require a 1004 MC Market Conditions analysis form with all appraisals.
I have seen some frustrations in the past, when an out-of-state lender hired an out-of-state appraiser (or not actually) to appraise a property in a particular subdivision. You might have 100 homes in that subdivision but the last 3 sales were foreclosures, and sold for much less than a fair market value, at least IMO. That was a deal killer right there, because most of the time, the appraiser didn't even know they were foreclosed properties. This analysis might could even … (2 comments)

foreclosures: This is a seller's market or we are in deep trouble... - 02/27/09 11:34 AM
I tend to have more leads than before. For foreclosures or "good deals". See what I mean? Everybody want to make a good deal. That's the demand from about 80% of my leads. So, I'm getting very comfortable now with all foreclosures in my county. And I can present at least 2-3 offers every week.
And then come the "we-got-a-offer-last-friday" answer!
Yes, I use to make a little call to the listing agent, just to ask if the property is still available, that I'm going to send an offer, that the agent can call me back if (s)he did not receive … (0 comments)