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Foreclosure in USA : Real Estate Advice

  • All162
  • Local Info20
  • Home Buying77
  • Home Selling17
  • Market Conditions6

Activity 9
Tue Jul 28, 2015
dploves2sellhomes answered:
Despite the fact that the media may be leading the buyers to think that REO's and foreclosures is the answer to their dream home, it takes an educated Realtor to explain why that may not be the case.
The media will always be providing information to the public whether it's accurate or not. In my opinion, it is extremely important for Realtors to have a presence and to educate the consumers regarding the purchases of REO and foreclosed properties as well as all current Real Estate information.

I believe that if you provide valuable and knowledgeable information to your buyers and sellers and educate them instead of trying to "sell" them on a service or home, this will have a positive affect for everyone. This will relay the message that you are the local expert.
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Wed May 20, 2015
thinz answered:
Having the numbers to back up the case they are trying to make.
Tom Hinz
0 votes 14 answers Share Flag
Wed May 20, 2015
thinz answered:
It is now 2015 and for the past 8 years or so, the % close for cases we've represented is a little over 90%. The #1 reason a short sale did not close is the buyer expectations were not properly stated to the buyer by the realtor. We get the highest and best price out of the gate, and when we receive a counteroffer from the lender, the buyer rejects and eventually withdraws. #2 - the buyer does not do their due diligence on the front end regarding the property condition, #3 - (and now becoming #1 as we've corrected the prior two issues...) the lender is coming back with an unrealistic BPO value that warrants a longer negotiation period and the buyer gets impatient and withdraws. Case in point - just look at how many foreclosures Ocwen has on their books that they manage...We could have closed most of them and saved them a ton of money so they can start writing more new loans...but the decision makers at the lender do not understand how to manage the short sale process for the best possible outcome...period. If lenders would stop thinking they can get more and realize this one thing - they will increase revenue and cut expenses by negotiating a short sale today with a reasonable offer vs foreclosing and selling for likely less at auction down the road. The numbers don't lie! Just some insights on my discussions that have gotten us to closing! Good luck. Tom Hinz
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Thu May 12, 2011
Speed48 answered:
Hi Contact Real Estate Institute of Western Australia they will give you the nessessary advice needed or make contact direct to the banking & morgage entities
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Tue Oct 27, 2009
Maria Center answered:
Thu Apr 9, 2009
Victor Kaminski answered:
Found The Bottom, is a Realtor basher all his post have one message in common, Realtors are idiot go FSBO, my guess he lost a house and blames Realtors or he owns a FSBO site. lol...

He makes posts without even reading them, this post had nothing to do with price stabilization it has to do with saving home owners from foreclosure!
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Fri Dec 7, 2007
Jackie Blankenship, M.B.A. answered:
Sorry I'm sounding scary. I really hope it all works out. I don't know the number of people this will help in the end so I don't know the actual impact on the # of shortsales and foreclosures it'll 'delay', and the actual impact on the investor's bottom line. I'm more worried about the 'voluntary' arm twisting by the government. As you know, when international investors invest, one of the risks they consider is political risk. Most times, we're talking about corruption or unstable political status etc. but I think this also may be considered political risk to a certain degree. BUT I hope I'm completely wrong!!! ... more
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Fri Aug 31, 2007
Silvia Miceli answered:
Hi Patrick & Ed,

I clicked on the link and I see what you mean. I sometimes tend to be a little naive. I have to tell you I received an e-mail from about certain legislation being passed yesterday. I checked the press releases button on the FHA website that Patrick provided and the last posting was from Sept 5 th, I think. The e-mail I received had this in it "the House of Representatives today passed, H.R. 1852, the Expanding American Homeownership Act of 2007, by a vote of 348-72. It is meant to increase the limits, etc. I do not know by how much or if it is going to help. Still I was surprised how many times I saw the word Realtor on the main screen. ... more
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Mon Aug 13, 2007
Scott G Peterson answered:
In Illinois the seller's attorney orders and the seller pays for the Owner's Title Insurance and the buyer for the Lender's Title Insurance Policy.

This is a ditto/repost of Patti Pereyra, confirming as a 25+ year Chicago Veteran Broker. Although there is some change in the air, and this has always been negotiable. Since the purchaser bears the larger burden of the cost as the "Lender's Title Policy" is more than the owners, that they buyer has the choice of who they want to use! This appears to be a little known and and exercised right the buyer has. I think we will see more change in this area soon... I'll keep you posted. ... more
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