Posts Tagged ‘Freddie Mac’
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
Do REO Listing Agents “SWIPE” All the Best Deals While Your Offers Get REJECTED?
Last Updated on Monday, 12 April 2010 09:35 Written by Mike Costigan Monday, 12 April 2010 09:35
Short answer: No. At least not usually.
You know, there always seems to be this “buzz” in the air that somehow REO brokers make it IMPOSSIBLE for “outside” brokers to get offers accepted on good homes. Many brokers, who write offer after offer, only to have them constantly rejected, believe that the listing agents just scoop up the best stuff before ever giving anyone else a chance. But are REO brokers so full of luck that they always have a nest of ready and willing buyers waiting to swarm in on the sweet stuff like a cloud of hungry bees? Not likely. So how does the hot stuff seem to disappear from the market as quickly as it materialized? Well, from an insider’s standpoint, I’ll tell you…
Tags: avoid costly REO bidding wars, Bees, Best Deals, Bidding Wars, buying bank owned homes, Buzz Air, Choice Properties, Donald Trump, Fannie Mae, FDIC, Foreclosure Buyers, Freddie Mac, get REO offers accepted, hot new properties, Hot Properties, Hot Stuff, Insider, Inventories, investors, Listing Brokers, Mike Costigan, Reo, REO Listing Agents, REO listing broker, Reo Properties, REO Rockstars, REO training, Scoop, Second Choice, selling REO, selling REO properties, Short Answer, Standpoint, Sweet Stuff, Swipe, Willing Buyers | Posted under Millionaire Maker News & Events | No Comments