Future of REO's

From all forecasts, nothing but boom. Banks will be under more pressure to dump non-performing assets.  Those with the means can really do quite well for themselves.

I predict that you will be really, really, really busy over the next few months.

I agree with Mike, as soon as this govt program works itself out, they will see that housing drives the economy and the banks will start cooperating!

Very Simple, Bank owned , no money being made on payments. Banks are requried to set money aside to when they get REO. Investors want to see their money working so the REO must be sold ASAP. If not sold investors pull the money.

So plan on being busy with lots of headaches.

Michael,

Everything I have heard is thumbs-up for Reo agents you should be busy for at least a year and after that you should have more bank connections.  I live in another state so could you share with me the best place to get connected?  I want to do REO's but having a tough time getting replies from them

If you are already in with the banks you may want to see if you can hire someone to ghost-write for you. My prediction is that unless you are only supervising/managing agents who are servicing the REOs, you're not going to have much time to be blogging. Who knows though, maybe you're one of the Evelyn Woods-type of speed-readers who can also pump out original blog posts at 95 wpm.  In that case...my hat is off to you. :)

The REO business should continue to be strong.  Same with short sales.

I would say you have a good year coming up for 2009. The numbers are still climbing on foreclosure so keep listing away.

How do you spell we will be working..... selling and the market will be booming - Banks will finally have to step back, get some standards and corporate with the economy instead of driving it downward.