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Dont deal with either of these unless we are investing in them.
Stevens Point, WI
It's is saddening that people are still losing their homes. This is happening less and less everyday as values continue rising. A Short Sale offers some buyers an opportunity to still buy a quality home in a great location at a good price, in some cases far below market value. This option is great for these buyers so having this option is good for them and getting their offer accepted is pleasing. I just make sure the buyer is aware of timing and the chance that it may not be approved. Bank Owned properties hit our local market very rarely. They sell quickly with multiple offers in most cases. Again, people losing their homes bothers me but having listings on the market help buyers and getting stressed sales sold helps sellers. All's good!
It's not a significant part of my market area.
Good morning Winston. No, not tired of it at all, as I continue to buy property on a regular basis, it is just part of the process. You have to have patience.
Make it a great week!
I'm not. I actually like them, since I successfully close all of mine and I feel comfortable dealing with banks and helping homeowners in trouble. SSs are not going anywhere.... I still see a lot of foreclosures and I'll never understand why to allow it to happen?!
I am. Although I broke down and took a bank owned property to list. I think what I'm most tired of is the piece of crap houses that smell. And that's what I'm going to be listing. Lucky me.
I quit listing REOs two years ago and haven't regretted taking that step. I still am selling REOs and don't mind that at all.
they have almost disappeared from our market. But I'll never like it.
They are SO exhausting. And they're taking longer to settle than ever before.
In a way not at all as REO is about half my business. By limiting foreclosures they delayed the recovery. For those who can pay, they should be worked out, but for those that can not, it is time to end this chapter so they can start a new chapter. Further more HUD should list their homes traditaionally with REO brokers and stop their current process. Fannie and Freddie should open up to the other GOOD REO agents and stop the monopoly.
I have bought a lot of REO properties and yes I am tired of dealing with them, for the past year I have been just ignoring their offerings.
I don't woprk many of these and only ones I feel that have a legitamate reason for trying a short sale.
They are rare for us now, but yes I am tired of the extra time and work that's involved with those transactions.
Is it 7 years already? WOW!!! We only did two and that was enough.
Lately, I'm not dealing with any short sales at all and the foreclosures are also getting sparse.
I can answer that in one very short word...
These are sad cases for the impacted families but are also business opportunities for smart real estate professionals.