Door Buster Homes?

By
Real Estate Agent with Michigan Realty Solutions LLC

Let us see....

I'm now a retailer or wholesaler (HUD, Fannie Mae, The Big Banks, etc.) and I am way overstocked from a lack luster selling season with inventory that isn't moving as well as it should (homes).

Maybe I should take a lesson from some of the other retailers and have some Black Friday Doorbuster sales and After Thanksgiving day weekend sales to move some of that inventory?

I actually proposed this same thing to a few asset managers in the bank owned arena who all had the same response. "We can't do that, it might make the public perceive we are desperate to sell these homes." WOW! I guess my vision of the bank owned and distressed short sale market has been wrong all this time.

The banks feel that they are still in control of the market, price, and inventory. They further do not feel they need to be forward thinking about what next February looks like after the foreclosure moratoriums end again, more adjustable loans adjust and default and the pending "shadow inventory" starts to hit the market.

Well, I'm off to shake a few hundred hands before I eat my sandwich (no need to worry about the flu) then off to try and get my wife a little bit pregnant. Might not go to work next month either. Heck if I cant pay the mortgage I'll just ask Obama to bail me out....

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forclosure
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Rainmaker
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Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

I think there is another way this can go.  I think now that 1 in 4 are in default and the banks will soon have no one to sell to they will begin to modify loans rather than take the beating in the foreclosure.

Nov 25, 2009 12:47 AM #1
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Rainer
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Jay Goscinski

ABR, GRI
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