FORECLOSURES GO MAINSTREAM

TLC, the suddenly hot cable channel that brought you “Jon & Kate Plus 8,” is now airing “Stager Invasion,” about a home staging expert helping couples desperate to sell their houses accomplish a home makeover in 8 hours – for less than a thousand dollars.

Yes, when the inability to sell a home is suddenly packaged as reality TV entertainment for America, we know a new age has truly dawned!

Foreclosures used to be a very small niche of the real estate business. When I began specializing in the field, it was because there wasn’t much competition. Who knew what an REO house was – with the exception of real estate professionals and bankers?

Now it’s a whole new ballgame. Foreclosures are out of the shadows and on the front pages. And in prime time as well.

But even with all the recent activity in REO listings and the explosion in the number of REO agents, brokers and contractors, there still are precious few that really know and understand REO transactions and how to deal with REO homes.

I was lucky that I did specialize in this field years before the housing market crash. It gave me the experience and expertise I needed – so I was prepared for the REO boom. And I’m able to pass on my knowledge and inside information to the members of our ASREOS group, so they’re also prepared. It’s exciting to be able to do that.

There are lots of people ready to jump on the REO bandwagon, now that it’s become an important part of the real estate market with no end to its historic growth in sight. Nothing wrong with that – it’s one part of the economy that actually is vibrant and growing.

REO sales are up because investors with cash know that REO homes can be amazing deals. Not only that, but soon, more high-priced properties will be joining the pool of foreclosures (see my article, “REO Agents Bracing For Wave of Deluxe Foreclosures“). Meaning, the REO market will continue to expand and become even more profitable.

The beauty of our ASREOS association is that the people behind it have the know-how and years of experience actually working with REO homes. We were in this field before the foreclosures started piling up and we will still be in this field after the housing market recovers. We know the best way to get listings, the proper protocols for dealing with banks, lenders and asset managers, and how to carry out field services for REO properties.

I hope all our members take advantage of what we have to offer at www.ASREOS.com. And if you are already in the REO industry, I hope you’ll consider joining.

Who knows? Maybe we’ll end up with our own TV show!