Phil Hanner's (reophil) Blog

Real Estate Agent - Keller Williams
Many people have contacted me about how bank owned (REO) properties are priced and how much they should offer for purchase.There are no hard and fast rules but here are some generalities.Is the price based on the amount owed at the time of foreclosure?Some supposed "gurus" have been claiming the ...
Incompetence I have an REO listing. The BPO came in low compared to the last sale price. The seller - wisely - wanted to get a second opinion. Unfortunately the agent they picked to do it worked for a company 35 miles away. This property is in the oldest section of town, ranch on a typical small ...
I was recently at a meeting of about 25 Realtors. One of them said her business was slow and she could not wait for the market to come back.I was shocked. I do not understand this mentality. The market never left. I see so many people in the real estate business sitting on their hands waiting for...
UPDATE - 2/2/2009  I posted this yesterday but it did not show up so I am trying again - hopefully it will not be a re-post. Thanks I was originally going to post this as a response to another member's question about what we have experienced with making contact with people losing their home to fo...
Recently, a foreclosing lender contacted me and asked me to do a short sale for them. They gave me the seller's contact info. The seller is in Puerto Rico and has no access to email or fax. All communication would be via phone and snail mail for all documents. I asked the loss mitigator if they h...
I got a good laugh this morning. Checking out a listing in a high end subdivision. The listing brokerage has specialized in high end listings for many years. Guess sales are getting lean. Out of NOWHERE, their web site claims they are "The area's only brokerage specializing in REO properties." Th...
If you are looking to buy bank owned property in the Daytona Beach area market, please contact me. We have over 100 listings including New Smyrna Beach, Port Orange, South Daytona Beach, Holly Hill, Ormond Beach, Ponce Inlet, Wilbur by the Sea, Ormond by the Sea, and beyond. Everything from low e...
I did a quick search of the lowest priced properties to sell in my market (Daytona Beach, Fl) and I was surprised at what I found. I searched the MLS for all properties sold and sorted out the bottom 30 as to whether they were bank owned, short sales, or "regular" sellers. Not all bank owned are ...
Built in 2003, this brick home is in the Forest Lake Preserve Community in west Port Orange. It is in move -in condition and has an in-ground pool. It is a true 4 bedroom, 2 baths, 2 car garage. It has over 2,200 square feet of living space and 2850 square feet total. This property is a bank owne...
UPDATE - THIS PROPERTY HAS SOLD !!!!! It sold in December 2008 for $92500   3 bedroom 2 bath, 1550 Square feet living space 2 story, built in 1993 on a flag lot (100x100), master bedroom and bath is in the loft. Bedroom is 12x24. Guest BRs are down stairs. 2 car attached garage. House is in overa...

Phil Hanner

Phil at
Ask me a question
Spam prevention