Posts Tagged ‘Bubba’
Foreclosure Inventories are Volatile. An Easy Way to Survive as an REO Broker!
Last Updated on Monday, 10 May 2010 01:08 Written by Mike Costigan Monday, 10 May 2010 01:08
I get these questions daily from REO Rockstars subscribers and from foreclosure brokers that I am coaching; “What is happening with bank owned properties?” “Why are the inventory levels fluctuating so much now?” “What can I do to keep from going under?” My explanation is this: The government and the banks are trying desperately to stop this huge flow of distressed properties from hitting the market. The government, of course, wishes to preserve home ownership and neighborhood values. The banks, of course, wish to SAVE MONEY and REDUCE LOSSES. As a result, we are seeing many new programs and strategies implemented, in an effort to keep foreclosures from taking place, and to offset losses, by disposing of bad debt though other means, like short sales. An interesting note that you may or may not know, is that banks are consistently seeing about a 15 point higher return on short sales vs. foreclosures-only makes sense that they look towards these alternatives, as additional methods of property disposition.
Does this mean an END to REO is coming?
Tags: Anomalies, Asset Managers, Bad Debt, Bank Owned Homes, Bank Owned Properties, Banks, Bubba, Distressed Properties, Ebb And Flow, Fannie Mae, Foreclosure, Foreclosures, Freddie Mac, Hamp, Home Ownership, housing bust, Inventories, Inventory Levels, Long Term Solution, Mike Costigan, Myriad, Neighborhood Values, Outright Failure, Property Disposition, Raw Truth, Record Lows, REO assignments, REO broker, REO business, REO inventories, REO Rockstars, Riding The Wave, short slaes, strategies | Posted under Millionaire Maker Tips | No Comments
(Lack of) SPEED KILLS! – A Useful REO Time Saving Tool that Instantly Gives You a 33% Boost!
Last Updated on Saturday, 6 March 2010 08:41 Written by Mike Costigan Friday, 5 March 2010 01:29
Do you know the #1 killer of an REO business? No, it ain’t strong competition bubba (gosh knows there’s a gaping hole where THAT should be)! And it isn’t bad luck either. It IS the in-ability of lazy, coffee-drinking, sit at their computer all day, whine and moan about the economy, God’s gift to REO, “prima donna” brokers, to get off their fat butts and get their tasks COMPLETED on time! Let me tell you, if you want to be tossed to the curb quicker than Tiger Woods at a Swedish family reunion, then you just GO AHEAD BE LATE big boy! Your Asset Managers will cut your legs out from under you so fast that your competition won’t even notice you’ve disappeared! O.K. look, when you’re selling bank owned foreclosures, it is absolutely CRITICAL to have ROCK-SOLID systems in place, to handle the multitude of things that are thrown your way every day.
Tags: Asset Managers, Bad Luck, Bank Owned Foreclosures, BHGDigital, Biggies, Bubba, Butts, Cart Before The Horse, Family Reunion, Forms for REO Brokers, Gaping Hole, Initial Occupancy Field Report SAMPLE, Lack Of Speed, Little Time, Monthly Inspection Report SAMPLE, Paperwork, Prima Donna, Reo, REO business, REO Forms, Repair Sheet SAMPLE, Swedish Family, Tedious Tasks, Tiger Woods, Time Savers, Ugly Head, Useful REO Time Saving Tools, View Sample REO Forms Here, Whine, Work Order SAMPLE | Posted under Millionaire Maker Tips | No Comments