Keyword: REO
The REO problem is worse than you think
How REOs are killing the market This week an asset manager contacted me to get pre-listing information on a house about to be foreclosed on. Brokers who do REO work know the drill: check occupancy status, secure the property (change locks), and tell the bank what you think the house is worth if priced for a quick, AS IS sale ...
Stewart Lending acquires REO subservicing company PMH Financial
Stewart acquires PMH Steward Lender Services (SLS), subsidiary of Stewart Title Company has announced the acquisition of a majority ownership interest in PMH Financial, a full-service REO outsource and subservicing company that provides REO services, short sale management, collateral valuation, subservicing, loan review and due diligence services. PMH currently has over 100 employees spread across six states and an active ...
Preparing a short sale package- not so top secret tips
Short sale package demystified: While much has changed in the wacky world of short sales over the last three or four years, one thing is certain: a well-prepared short sale package gets processed more quickly and efficiently than a crappy one. But, what makes a good short sale package? Here are several tips to aid you in the creation of ...
New 2012 AGBeat media kit available now
- We know you want the most sophisticated audience, and here it is!
A quarter of homes sold in 2010 were foreclosures – good news?
According to RealtyTrac.com’s 2010 Year-End Foreclosure Sales Report, nearly 26 percent of all homes sold during the year were foreclosures, up three percent from 2008 and down three percent from 2009. The average sales price of foreclosures in 2010 was 28% less than non-foreclosure home. California, Nevada and Arizona lead with the highest percentage of foreclosure sales nationally. “Foreclosure sales ...
Fannie Mae rule limits brokers’ ability to list REO properties, KW responds
Recently, Fannie Mae began to actively seek out brokers listing more than 30 REO listings from any single Fannie Mae source which understandably is seeing opposition by many large brokerages as well as the National Association of Realtors, according to Keller Williams’ CEO, Mark Willis. Willis wrote this week to all of Keller Williams associates: “Dear Associates – We’ve recently ...
A Staggering 18.9 Million Homes in U.S. Are Currently Vacant
Foreclosures rise As the number of foreclosure filings hit historic highs, studies and statistics show staggering results. Of the 130.6 Million housing units in America, 18.9 Million homes are vacant as of the end of December 2009, according to the U.S. Census Bureau. That’s more than the entire population of Greece and Israel combined! The Census Bureau also reported that ...
Shadow Inventory or Not? Agents, Get to Work!
I’ve been thinking about the future of real estate. Fellow Agent Genius Contributor, Russell Shaw, wrote a thought-provoking blog post a few days ago about the rumored shadow inventory that is (or is not) coming our way. I have to admit that I loved this post ‘cause it got me to thinkin’. It got me to thinkin’ about why so ...
Shadow Inventories Are Up Fifty Five Percent Over the Last Year
Huge stumbling block? Just when we thought maybe we were bouncing at the bottom and about to jump back up in the real estate market, First American CoreLogic estimates that in September, there were 1.7 million shadow units not yet on the market, up 55% over September 2008. The pending supply of this shadow inventory is at 3.3 months, up ...
The Greatest Example of Collusion in History?
Are we witnessing the greatest example of collusion in US, if not world history right before our very eyes? col-lu-sion [kuh-loo-zhuhn] – noun …a secret agreement, esp. for fraudulent or treacherous purposes; conspiracy: Some of his employees were acting in collusion to rob him. Currently, the number of bank-owned/REO properties on the market is estimated to comprise only 30 percent if not ...
Foundation of Business Model Arguments Subject to Earth Fissures
Let me clear my throat … check one, two … Late last week I received an inquiry from a prospective buyer in Canada asking about earth fissures – the rather unpredictable phenomenon by which large cracks appear in the Valley’s soil. Leading theories say the fissures are caused by settling in the Phoenix area’s water table; they generally seem to ...
20 Things You Should Know When Writing on a R.E.O. Property.
REO Properties Over the last couple of years with the increase of foreclosures, real estate agents who shy-ed away from Real Estate Owned (R.E.O.) properties have found themselves delving in to them head first. Reason for shying away include everything from elitism (I have been called a bottom feeder for working R.E.O.’s) to ignorance for understanding the dynamics in working an offer ...
R.E.O. Ain’t the Name of Some 70s Band?!?!?
Photo Courtesy of Chaomancer REO (Speed)Jargon R.E.O, Bank Owned, Foreclosure, Loss Mitt, “Short Sale,” and a plethora of other terms have found their way in to MLS comments and our daily conversation over the last couple of years. Jargon developed over years and years ago by the default mortgage banking industry used by mortgage company insiders. Terms used to describe ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
