Thank you all for your input, I want to introduce myself, I am Michael Whitlock I have been an REO agent since the begining of this cycle (little over a year now). I activly manage approximatly 50 REO's at any given time and I own and operate my own branch office. For those who wonder how I can spend a few minutes every week, it is called delagation and well paid help. Second I feel it is important to stay in touch with other agents to hear others experiences and explore new opportunities, no single agent knows it all.
As for my "opinion" about the REO market; Simple, I belive it is on its way out! The banks and Feds are discussing different ways to keep people in their homes, including reducing the principal amount to 90% of current values. If this or any other plan acually works we will see this market all but dissapear.
I just want to spark a friendly discussion to see what everone thinks. Hope everone has a great Holiday.
Mike
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