reo: REO Nightmares
- 08/07/09 07:34 AM
I am troubled by a pattern that seems to be developing for the marketing of REO properties. Listings for bank owned properties are given to service companies around the country for marketing and sales. Many if not most of these listings seem to go to offices well outside our marketing area and are not available to our IDX. These brokers have little or no information about the property and in some cases are depending on the service company to manage the property. The service companies begin authorizing dropping the price; see no offers and few if any showings. Eventually the properties … (0 comments)
reo: Slow negotiation on REO?
- 04/02/08 11:15 AM
I was impressed today by a bank owned property priced at $399,000. Not too bad. I think as soon as incomes and home prices get in line nationwide, the prices will stabilize and inventory will go down. Realtor association is thinking this fall. Newsmedia seems to think end of year. Might need to be an administration change. Hopefully we will not have the crazy increases of the last 10 years. Prices here have gone up 300% in 10 years. A lot of happy faces on both sides of the equation. Most properties walking distance to water are still going up and … (0 comments)
I am troubled by a pattern that seems to be developing for the marketing of REO properties. Listings for bank owned properties are given to service companies around the country for marketing and sales. Many if not most of these listings seem to go to offices well outside our marketing area and are not available to our IDX. These brokers have little or no information about the property and in some cases are depending on the service company to manage the property. The service companies begin authorizing dropping the price; see no offers and few if any showings. Eventually the properties … (0 comments)
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