Articles
REO Listings: Another Record in New REO Properties
Tuesday, July 13th, 2010
Bank Repossessions Hit New High for Second Month in a Row
Bank repossessions – the actual foreclosure on a home and conversion to an REO (Real Estate Owned) property – hit a record high in May 2010 for the second month in a row, according to foreclosure experts RealtyTrac. Lenders repossessed a total of 93,777 homes, a 1 percent jump from April and a 44 …
REO Listings: New Recession To Spur More REO Properties?
Saturday, July 3rd, 2010
A New Downturn Could Create More Foreclosures Than Ever Before
Robert Reich, former Secretary of Labor under President Clinton, recently suggested that a new double-dip recession may be on the way. The reason? New employment figures are still dismal, the median wage continues to drop and middle class consumers lack the disposal income to spend.
And there’s plenty of evidence that the housing market will …
REO Listings: Foreclosures Still A Major Force
Monday, June 14th, 2010
Experts Say Housing Recovery Still a Long Way Away
If you’re hearing news that the real estate market is coming back and that foreclosures are going away, you’re hearing from people who aren’t really looking at the facts.
And here are some of those not-very-encouraging facts:
• “60 Minutes” on their May 10th broadcast did a story on homeowners prepared to walk away from their mortgages because they owe …
REO Listings: A Recognized Red-Hot Opportunity
Thursday, June 3rd, 2010
“Financial Planning” Magazine Touts REO Homes as “the Best Real Estate Deals”
An article in “Financial Planning” magazine entitled “REO de Dinero” makes the case that buying an REO (Real Estate Owned) home is the smart move in today’s housing market. “There are terrific opportunities in REO properties now,” the magazine quotes John Anderson, co-owner of Twin Oaks Realty in Minneapolis and also on the …
REO LISTINGS: MORE FORECLOSURES, MORE REO SALES
Wednesday, April 28th, 2010
The Newest Figures Mean Big News for REO Agents
After a minor lull in the REO market at the end of 2009, the distressed homes market came roaring back in 2010, with short sales and REO properties accounting for over 29% of all home sales this past January. That’s the biggest month for REO sales since July of 2009 and came close to breaking the …
REO LISTINGS: THE PIG IN THE PYTHON
Thursday, April 22nd, 2010
Foreclosures Boom as the REO “Shadow Inventory” Comes Into the Light
The first three months of 2010 featured a record number of foreclosures, even as many economic experts claim the recession is over.
RealtyTrac Inc. reported that the number of homes in the REO pipeline jumped 35 percent from the first quarter of 2009. More homes became REO properties than in any other …
HOW TO GET REO LISTINGS: BUTTON DOWN YOUR BPO’s
Monday, March 8th, 2010
The Importance of Being Accurate and Complete
If you’re already an REO agent or want to become one, there’s one important thing you have to do to receive a continuous stream of REO listing assignments and BPO orders. And that’s to strive to submit on time, every time, a 100% accurate and complete BPO (Broker Price Opinion).
For those of you unaware of what a BPO …
HOW TO BECOME AN REO AGENT: THE SHADOW INVENTORY
Monday, December 28th, 2009
Finally Some Facts and Figures about Hidden REO Properties
The foreclosure crisis is incredible enough – already offering amazing opportunities for REO agents and brokers. But now there is finally some sunshine lighting up the so-called “shadow inventory” of foreclosure properties that have yet to be officially recorded or to become part of the massive amount of REO listings currently for sale all across America.
Real …
HOW TO BECOME AN REO AGENT AND GET REO LISTINGS
Monday, December 14th, 2009
Breaking Into the Hottest Business Category in Real Estate Today
REO (Real Estate Owned) properties are currently the biggest-selling home category in America. And that’s a situation that’s not about to change soon.
For those of you who don’t know what REOs are all about, when a property goes through a foreclosure process, usually the financial institution that backed the mortgage ends up owning the …
WHEN IS THE TIME TO BECOME AN REO AGENT? NOW!
Sunday, November 22nd, 2009
ASREOS an Important Resource for REO Training
One in four mortgages in Florida is either past due or somewhere in the foreclosure process. California foreclosures grew 22% this past October from the previous month – and are up 21% from the previous year.
And the biggest danger sign that the REO boom is very far from over? A new survey from the …
REO LISTINGS TRENDS: FORECLOSURES
Saturday, November 14th, 2009
Commercial REO Property and Secondary Markets Heating Up
If you’re interested in training to be an REO agent, now’s a good time to start. REO sales continue to dominate in many states – and even in Southern California, half of all home sales currently are REO homes. In Las Vegas, that percentage is an amazing 67%, according to MDA DataQuick.
Not only that, but …
REO LISTINGS TRENDS: RECORD FORECLOSURES, RECORD DELINQUINCIES
Wednesday, August 26th, 2009
Foreclosure Filings Rise 32% Year-to-Year
REO properties will continue to make up a large part of the housing market for some time to come, judging by the latest foreclosure and mortgage data.
In July, foreclosures were up 7% from June – and 32% from July of 2008. 360,000 homes were in some stage of the repossession process and on their way to becoming …
REO LISTINGS TRENDS: FORECLOSURES CONTINUE TO CLIMB
Wednesday, July 29th, 2009
Experts Predict Elevated Levels of Foreclosures for Next Three Years
Just when everyone thought the level of mortgage defaults couldn’t get any worse, it did in the second quarter of 2009.
It’s now clear the REO properties will continue to be a major factor in real estate listings for at least the next three years. Rising unemployment is now predicted to be the …
REO AGENTS BRACING FOR WAVE OF DELUXE FORECLOSURES
Friday, July 10th, 2009
Million-Plus “McMansions” To Be Next Big REO Listing Category
Up until now, the middle class has been hardest hit by plummeting home prices and a bad real estate market. This has resulted in massive mortgage defaults, the tidal wave of foreclosures and the historic high number of REO listings available.
The upper middle class and high-end homeowners who thought they would be able …
REO LISTINGS TRENDS: UNEMPLOYMENT AND HOUSING BUBBLES
Wednesday, June 24th, 2009
Why the Housing Market Won’t Improve Soon
While most real estate agents and brokers are desperately searching for signs that the housing market is recovering, those signs are simply not there yet. The foreclosures keep flowing with no let up in sight. And there’s yet another set of statistics that show the current historic high of available REO properties isn’t …
REO LISTINGS: “SAFE” HOMEOWNERS NOW IN TROUBLE TOO
Wednesday, June 10th, 2009
The Next Foreclosure Wave is Just Beginning
You probably already saw the news trumpeted at the end of May that said a record 12 percent of homeowners with a mortgage had fallen behind in their payments in the first quarter, according to the Mortgage Bankers Association. The Association also predicted that the trend would continue until the end of 2010, six months …
Friday, April 24th, 2009
How Reckless Lending Fueled Foreclosures
Everyone knows the economy is bad – and that it all started with the housing crash. Foreclosures continue to fill up the airwaves – but just how bad is it? We often hear conflicting reports – home sales are up, home sales are down – but one man went ahead and examined all the evidence. …
REO PROPERTIES: MILLIONS MORE ON THE WAY
Friday, April 10th, 2009
Mortgage Defaults Continue to Grow at Record Rates
The initial wave of toxic Subprime Mortgages that caused so many foreclosures and put so many REO (Real Estate Owned) properties on the market may have subsided – but the bursting of the housing bubble has caused so much chaos on Wall Street that the entire world economy suffered as a result.
Now, …
REO SALES TO SET MORE RECORDS IN 2009
Thursday, February 26th, 2009
Why the Foreclosure Market Will Continue to Soar
Countrywide Financial regularly updates an online chart showing how the numbers are trending on its REO properties. Back in August, that chart looked like this:
…
REO LISTINGS OF THE RICH AND FAMOUS?
Thursday, February 12th, 2009
The Housing Bubble Pops for the Hollywood’s Elite
In 2008, the U.S. housing market lost over 3 trillion dollars in value – with an overall decline of over 11% of the average house price and over 2.3 million homes going into foreclosure. And things aren’t looking much better so far in 2009.
As a matter of fact, the homeowners who thought they actually …
ASREOS.COM: SERVICING THE REO MARKET BOOM
Monday, December 22nd, 2008
How Foreclosures Have Changed the Housing Market
Let’s state the obvious – the numbers aren’t good. At this moment, home foreclosures in America are up 76% from last year. One in ten homeowners is either delinquent with payments or already in foreclosure. The number of homes projected to face foreclosure in 2008 is at 2.2 million.
That’s meant a huge …
