daytona beach reo property: Hey Asset Manager! - 01/22/10 08:35 AM
Did you know:
That some of your listing brokers charge fees - sometimes $500+ - to the buyers that often is coming out of your net? Other buyers and brokers do not like paying for, or arguing on your brokers behalf, to try to get these fees paid. The implied or actual threat is that the offer will not be submitted unless you cough up the money. Therefore, they do not show your properties for sale.
Some of your brokers are advising you to pay for unnecessary repairs? Just recently looked at an REO that had wood rot in the ceiling over … (7 comments)

daytona beach reo property: TOP TEN REASONS THAT REO AGENTS RULE - 06/16/09 07:46 AM
10. We know squatters on a first name basis.
9. We occasionally sell houses that the seller doesn't own.
8. We know highest and best is not drug dealer term.
7. We know they should add "none of the above" for "type of roof".
6. We don't charge extra for the green stuff in the pool.
5. We know the cure for too many low-balls is several Highballs.
4. We know if the title company is local, there must be something wrong.
3. We know what kind of mold exists by feeling which body part burns.
2. We get more price … (16 comments)

daytona beach reo property: How much should I offer on a bank owned property? - 04/16/09 09:27 AM
Many people have contacted me about how bank owned (REO) properties are priced and how much they should offer for purchase.There are no hard and fast rules but here are some generalities.Is the price based on the amount owed at the time of foreclosure?Some supposed "gurus" have been claiming the banks base their list price and what offer they will accept on how much is owed. One "guru" had even researched (allegedly) over 200 transactions and came up with a number. He claimed 73% of the amount owed on the mortgage is what the bank would accept as an REO (bank … (0 comments)

daytona beach reo property: Incompetence, Fraud?, and Racist Comments - 03/31/09 02:26 AM
I have an REO listing. The BPO came in low compared to the last sale price. The seller - wisely - wanted to get a second opinion. Unfortunately the agent they picked to do it worked for a company 35 miles away. This property is in the oldest section of town, ranch on a typical small lot, and needs about $30K in repairs. This includes a roof, a kitchen, an a/c system, and many other things. The neighborhood has no conformity.
The BPO agent used comps an average of two miles away when there are plenty close by. He used … (8 comments)

daytona beach reo property: When Will the Market Come Back? - 02/20/09 04:22 AM
I was recently at a meeting of about 25 Realtors. One of them said her business was slow and she could not wait for the market to come back.I was shocked. I do not understand this mentality. The market never left. I see so many people in the real estate business sitting on their hands waiting for "something" to happen. The market has changed but it did not go away. This reminds me of the 1% rule: 1% of the people make things happen. 2% watch and understand what happened. 97% stand around and say "WHAT HAPPENED?"I have been closing a … (13 comments)

daytona beach reo property: REO "experts" and "specialists" - 12/21/08 12:52 AM
I got a good laugh this morning. Checking out a listing in a high end subdivision. The listing brokerage has specialized in high end listings for many years. Guess sales are getting lean.
Out of NOWHERE, their web site claims they are "The area's only brokerage specializing in REO properties." They have fewer total listings than we have REOs. We have 120 REOs and 39 in the pre-list and they have about 6 total listings and only about 2 are REO.
Is this fake it 'til you make it or just flat out lying?
Anybody else out there seeing all these … (3 comments)

daytona beach reo property: Looking for Bank Owned REO Property in the Daytona Beach Area - 12/20/08 10:04 PM
If you are looking to buy bank owned property in the Daytona Beach area market, please contact me.
We have over 100 listings including New Smyrna Beach, Port Orange, South Daytona Beach, Holly Hill, Ormond Beach, Ponce Inlet, Wilbur by the Sea, Ormond by the Sea, and beyond. Everything from low end rehabs to waterfront Victorian homes, condotels to ocean front condominimums.
We have 39 properties in the PRE-LIST stage. You will know what is going on before other buyers. These homes have not been priced and you can get first access to them.
For more information go to DAYTONABEACHREO.COM
Phil Hanner

daytona beach reo property: Which sells at a better price - REO or Short Sales - 12/12/08 02:26 PM
I did a quick search of the lowest priced properties to sell in my market (Daytona Beach, Fl) and I was surprised at what I found.
I searched the MLS for all properties sold and sorted out the bottom 30 as to whether they were bank owned, short sales, or "regular" sellers. Not all bank owned are coded as such, so it took some time to figure out or I would have used a larger sample.
I found that at the bottom of the market:
93.3% were REO.
6.7% were regular sellers.
0.0% were short sales.
I am sure this does … (0 comments)

daytona beach reo property: Bank owned 4 bedroom 2 bath home, Port Orange, Fl - 11/30/08 05:37 AM
Built in 2003, this brick home is in the Forest Lake Preserve Community in west Port Orange. It is in move -in condition and has an in-ground pool. It is a true 4 bedroom, 2 baths, 2 car garage. It has over 2,200 square feet of living space and 2850 square feet total.
This property is a bank owned foreclosure listed by Phil Hanner of Concord Real Estate Inc. We have offices in Palm Coast and New Smyrna Beach Florida.  Our business is focused on bank owned properties and short sales. Our agents have many years experience in dealing with foreclosure … (1 comments)

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Phil Hanner

Phil at

Daytona Beach, FL

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Keller Williams

Address: 3510 S. Nova Road, Suite 112, Port Orange, Fl, 32128

Office: (386) 214-7745

Mobile: (386) 214-7745

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