bank owned homes: SHOULD I BUY A SHORT SALE OR A BANK OWNED HOME?
- 03/15/11 01:43 AM
One of the most asked questions from buyers wanting to jump into the market is "SHOULD I BUY A SHORT SALE OR A BANK OWNED HOME?" All the buyers have the same goal which is to get the best possible deal as prices stabilize and start heading up as we come out of recession.The simple answer is iIt clearly depends on the amount of time you have to purchase and if you have the patience to be able to wait out a short sale. Short sales can take a long time to get approved and your offer is not guaranteed to … (0 comments)
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bank owned homes: The REAL "BANK OWNED" HOMES of America- A story in pictures part 12
- 03/13/11 01:51 AM
The REAL "BANK OWNED" HOMES of the America- A story in pictures part 12Todays "Foreclosure" of the day
A large part of our business these days is REO " Bank Owned" homes. I receive so many comments how i can work with these "crooks" etc.... But there is another side to this story... by no means is any of this alright.... As you all know, as part of my ongoing blog, everyone reads and sees the mainstream media everyday reporting on foreclosed homes, but only a very few get to see inside them on a daily basis. I have decided to … (3 comments)
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bank owned homes: The REAL "BANK OWNED" HOMES of the USA- A story in pictures part 10
- 02/17/11 12:57 AM
The REAL "BANK OWNED" HOMES of the USA- A story in pictures part 10Todays "Foreclosure" of the day
Good Morning all,
During my last couple of posts, i received a comment that has stuck with me this week as i have been through a good 20 new foreclosed homes since Monday. The comment asked me to think of the pain the family and kids felt because of the foreclsoure. I wrote a response to them while keeping this in the back of mind. The majority if new foreclsoures are trashed, completely wrecked on purpose. More than half the properties we have found … (0 comments)
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bank owned homes: Do you think banks should leave the mini blinds up inside foreclosed homes?
- 02/01/11 11:58 AM
Do you think banks should leave the mini blinds up inside foreclosed homes?No i do not mean the ones hanging by a string, leaning all to one side, have teeth marks and covered in soot. I mean if they are a good quality blind or shade left behind. Would you want it left up or taken down in your REO listing?Why would i be asking such a thing, becuase with alot of banks that use national preservation companies, it is a blanket order to remove all window treatments. leaving the blinds up and closed limits people who are up to no good … (1 comments)
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bank owned homes: Today's FORECLOSURE of the Day - a story in pictures part 5
- 01/24/11 07:05 AM
Today's FORECLOSURE of the Day - a story in pictures part 5
As part of my ongoing blog, everyone reads and sees the mainstream media everyday reporting on foreclosed homes, but only a very few get to see inside them on a daily basis. I have decided to share with you the cream of the crop. It is a shame...PLEASE FEEL FREE TO SEE OUR PREVIOUS BLOGS ON THIS TOPICPART 1 (please click here) http://actvra.in/4j8PART 2 (please click here) http://actvra.in/4km
PART 3 (please click here) http://actvra.in/4lm
PART 4 (please click here) http://actvra.in/4mZ
If you are interested in purchasing a bank owned home, please see my blog … (3 comments)
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bank owned homes: Today's FORECLOSURE of the Day - a story in pictures part 4
- 01/23/11 06:12 AM
Today's FORECLOSURE of the Day - a story in pictures part 4
As part of my ongoing blog, everyone reads and sees the mainstream media everyday reporting on foreclosed homes, but only a very few get to see inside them on a daily basis. I have decided to share with you the cream of the crop. It is a shame...PLEASE FEEL FREE TO SEE OUR PREVIOUS BLOGS ON THIS TOPICPART 1 (please click here) http://actvra.in/4j8PART 2 (please click here) http://actvra.in/4km
PART 3 (please click here) http://actvra.in/4lm
If you are interested in purchasing a bank owned home, please see my blog with tips and … (1 comments)
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bank owned homes: Today's FORECLOSURE of the Day - a story in pictures part 3
- 01/22/11 09:31 AM
Today's FORECLOSURE of the Day - a story in pictures part 3
As part of my ongoing blog, everyone reads and sees the mainstream media everyday reporting on foreclosed homes, but only a very few get to see inside them on a daily basis. I have decided to share with you the cream of the crop. It is a shame...PLEASE FEEL FREE TO SEE OUR PREVIOUS BLOGS ON THIS TOPICPART 1 (please click here) http://actvra.in/4j8PART 2 (please click here) http://actvra.in/4km
If you are interested in purchasing a bank owned home, please see my blog with tips and advice on buying a bank owned … (2 comments)
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bank owned homes: THE TOP 5 MYTHS AND TIPS for getting a deal on a PRE-FORECLOSURE
- 01/07/11 12:34 AM
PRE FORECLOSURES ARE SIMPLY THAT, A HOUSE ENTERING INTO THE FORECLOSURE PROCESS... The home owner is usually gets to the 60 day late window and the process starts.THE TOP 5 MYTHS AND TIPS "getting a deal on a pre-foreclosure". 1. Most houses in pre-foreclsoure are not even on the market for sale2. Most home owners in pre-foreclosure owe more than the house is worth in todays market. 3. If they are in foreclosure and a foreclsoure date has been set, there is not enough time for them to complete a short sale.4. Most home owners in foreclosure are not going to invest their time, what resources … (2 comments)
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bank owned homes: NATIONAL PRESERVATION COMPANIES WITH BANK OWNED HOMES - AGENTS WE NEED TO HEAR FROM YOU!!!
- 11/16/10 01:04 AM
If you are an agent who lists or sells REO (Bank Owned) properties then you must have ran into what i am facing. The banks are switching to national preservation companies. They think they will cut costs and streamline maintenance. I think they are hindering the ability to maintain, preserve and sell these properties and ill tell you why. This is a national issue not just limited to here in NH. So please tell me what you think. As an agent who lists alot of bank owned homes i want the abillity to manage the properties maintenance and preservation tasks. My name is on … (6 comments)
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bank owned homes: Representaion for the buyer at No cost - Buyers see how you can get a free buyer broker working for you.
- 11/14/10 04:26 AM
A common question i have been asked is "Can i get a buyerbnroker at no cost to me? I have heard many different things about different agents charging from nothing to 3%, some even with an upfront fee... how much does a buyer broker really cost? as a home buyer i need to be able to save all i can?" If you are looking for a Buyer Broker at no additional cost to you, I can certainly assist you with that. There are no costs and no upfront fees. Why do i need a buyer broker? As a buyer, you should have someone looking out … (1 comments)
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bank owned homes: SHOULD A SELLER PAY THE BUYERS CLOSING COSTS? What you need to know...
- 08/15/10 11:19 AM
Todays question is "As a seller, do i "have to" pay the buyers closing costs?"As a seller you never "HAVE TO" do anything. However as a seller you need to know that you should do whatever you can control to bring the most amount of potentilal buyers to your house. there are so many variabls you can control, you do not want to alienate buyers from teh start. As a listing agent and as a seller the goal is to bring about the quickest sale at the most obtainable price. The first thing you need to do is get a brokers price opinion. you … (5 comments)
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bank owned homes: DO YOU WANT TO GET INTO THE FORECLOSURE BUSINESS?
- 07/27/10 05:20 AM
One of the most asked questions and most common call soliciting my business is from people who want to get into the foreclosure business., Either cleaning them, maintainging them, lawn care, snow removal, emergency services and changing the locks and yes other agents looking how to get the bank owned listings i get.....As far as contractors...there is nothing worst than an unprepared person coming into my office looking for work. I wanted to write this to give not only people in NH but throughout the USA tips of what banks and what agents look for when looking for people to complete work.________________________
… (0 comments)
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bank owned homes: HOW TO NEGOTIATE WITH A BANK AFTER THEY ACCEPT AN OFFER- tips and secrets revealed
- 07/22/10 02:27 AM
Today's question of the day is: Will the bank re-negotiate if i find anything wrong during the home inspection?The first thing to note is all banks sell their properties "as is". Some banks will not let the purchase contract be contingent upon a home inspection. Others may allow it but will stamp the contract, home inspection for buyers use only and cross out the "contingincy" part.What most banks have in common is, they will not renegotiate after accepting a contract. Most banks and their listing agents will tell you this up front, however it is a question you should ask straight up. When … (3 comments)
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bank owned homes: WHAT HAPPENS WHEN BANKS HIDE THE FACT A HOUSE I BANK OWNED?
- 07/20/10 01:16 AM
Todays question is how and why banks would want to hide the fact that a property is bank owned and why they would want to do so?Some lenders are adding wording in their listing contracts with agents that the listing agent can not use the words bank owned, reo or foreclosure or any similar terms. Why would they want to do this?The banks believe that using bank owned in the marketing, automatically puts the house at a disadvantage over non reo homes, and it is destined to sell for less.How will they bring up the value of reo properties?They are spending … (1 comments)
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bank owned homes: WHEN IS THE RIGHT TIME OF YEAR TO BUY A HOME?
- 06/30/10 08:27 AM
One of the most common questions i hear is "When is the right time of the year to buy a home?" Is there a time of the year that is better than another for buying?As far as buying most sources, they will say it is better to buy in the winter when there are less buyers to bid against, there is less competition and therefore you should get a better price for teh home you are looking to buy.The downfall is that there are also less homes to choose from....The Right Answer The right answer is for buying, is whenever YOU are ready. You … (2 comments)
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bank owned homes: SELLING BANK OWNED HOMES - THE 1ST BATTLE
- 06/28/10 04:41 AM
I always get asked "What is the biggest obstacle you face selling bank owned homes?". Unfortanately they are not obstacles, but true throwdown battles in most cases. I have created this blog as part of a new informative series of what obstacles buyers and agents face in this new world of REO (Real Estate Owned) homes.A bank owned home is a fantastic opportunity for a buyer to purchase a home at an incredible price, it's title has been cleared, the property cleaned and readied for sale. I will use this forum to address different issues from the agents point of view, … (1 comments)
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bank owned homes: SAVE A PENNY... BURN A DOLLAR....
- 05/26/10 05:00 AM
One of the most frustrating part of listing bank owned homes is the trend for banks to use national preservation copmpanies. While some banks still use the listing as the person to manage the bank owned homes and oversee the lawn care and repairs others are now using national companies.Alot of agents i speak with say " thats great, one less thing i have to deal with" however it is their name on teh sign, it is them teh neighbors will call if the property isnt maintained and its their commission that will be lower becuase the house isnt worth as much … (0 comments)
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bank owned homes: WHO CARES?
- 05/26/10 04:30 AM
It is a basic question that requires a basic answer, the buyer, the seller, their agents and the loan officer affected by people who dont seem to care sure do care!!!With bank owned homes one of the largest segments of listings that are selling, if you have worked with one as an agent or being the buyer than you may know what i am talking about.No one seems to care at the banks and some of the asset management companies.____________________Lets look at some examples....The buyer is clear to close but there is no deed. How can this be? You need a … (0 comments)
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bank owned homes: BUYING MANCHESTER NH AND SURRONDING AREA BANK OWNED HOMES
- 05/10/10 04:26 AM
In Manchester and accross the State of New Hampshire, bank owned homes steadily come onto the market. I get asked most often i can i get into this great deals. NH differs from other states as within a short 30-45 minute ride you can go from urban to suburban to rural to the coean, the lakes or the mountains. Each area has been affected differently by this downturn in the economy. Some area's have not got hit as hard and some area's have been devestated.
Before you decide you want a bank owned home you need to know a couple of things. First is … (0 comments)
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One of the most asked questions from buyers wanting to jump into the market is "SHOULD I BUY A SHORT SALE OR A BANK OWNED HOME?" All the buyers have the same goal which is to get the best possible deal as prices stabilize and start heading up as we come out of recession.The simple answer is iIt clearly depends on the amount of time you have to purchase and if you have the patience to be able to wait out a short sale. Short sales can take a long time to get approved and your offer is not guaranteed to … (0 comments)
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