Bad Business Strategy!
Photo Courtesy of Creative Commons The Place I was attending the Spring Meetings of REOMAC (The REO Manager’s Association of California) in Indian Wells California earlier this month. This event is one...
View ArticleCan Foreclosure Kill?
I Sell Foreclosed Properties I’ve been selling foreclosed properties for 20 years. In that time I have checked the occupancy on thousands of houses that had just been foreclosed upon. I have knocked...
View ArticlePut Your Data On The Map
My day job is currently with a title company and we send our customers lists several times a week of for sale by owner lists and foreclosure lists. These typically come in a CSV (Excel-readable) file...
View ArticleR.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...
View Article20 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...
View ArticleFoundation 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...
View ArticleThe 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...
View ArticleShadow 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...
View ArticleShadow 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...
View ArticleA 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...
View ArticleFannie 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...
View ArticleA 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....
View ArticlePreparing 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...
View ArticleStewart 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...
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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...
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Study reveals foreclosure fraud in almost all cases
Rampant foreclosure fraud The City of San Francisco has released a report revealing the widespread nature of foreclosure abuse, with 84 percent of the 400 local foreclosure cases studied showing...
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Housing’s silver lining: turning REOs into rentals
While housing sputters along near the bottom, most entities are cynical of the market, while one company is expanding rapidly and seeing success in turning REOs into rentals while revitalizing...
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The most important tip for an effective short sale closing
Short sale transactions can be extremely nuanced and detailed for a practitioner, but there is one frequently overlooked tip for an effective short sale closing, because the devil is most definitely in...
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Housing challenge: passing on disposition costs
Could extended disposition timeline costs passed on to consumer? CoreLogic economists have analyzed the current state of the economy and weighed in. The post Housing challenge: passing on disposition...
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