Are you going through financial hard times? Are you contemplating filing for bankruptcy? Do you feel overwhelmed with the difficult choices and situations ahead? EduCouch brings you all the professionals you wish you could meet and consult in the comfort of your own home. By the end of this program, you will be ready to make a proper decision in relation to your finances and come out with a feeling of satisfaction and independence. Going through a bankruptcy or a foreclosure is a difficult time in one’s life but dealing with this process can be positive and ultimately rewarding when you know what to expect and develop your own plan. This DVD features 6 experts who share their knowledge and advice about everything from the financial implications to techniques on rebuilding your credit and your self-esteem. With the help of this DVD you will be able to prepare for what is to come, develop a strategic plan, re-evaluate your finances and start a new, debt free life.

ZipTV explores purchasing a distressed property. Distressed properties include short sales and foreclosures and the process of buying one of these types of properties can be very confusing. The video will give you some insights before you purchase a distressed property.
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THE BEST-KEPT SECRET IN THE FORECLOSURE INDUSTRY IS NOW AVAILABLE IN THIS BOOK! This book is a step-by-step manual that teaches you how to profit from this current downturn in the real estate market. You begin by learning how to build a solid business model by putting together the right team. You will learn how to locate, negotiate with the owners and the banks and profit before these properties ever reach public auctions. Savvy real estate experts believe that the majority of the best deals are

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Copyright (c) 2009 Frank Patrick

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: A total of 15,108 REO Listings with a total asking price of ,707,749,339 (yes, that’s over two billion dollars of REO homes).

That REO chart was updated in January this year, and it looked like this: A total of 20,255, a 25% rise in REO listings in five months – with a total asking price of ,270,467,911. Over 3 billion dollars. And again, this is only from one mortgage company. That kind of amazing increase in REO properties is a big reason why most experts think REO agents and brokers are going to be busier than ever in 2009.

With the biggest number of defaults and foreclosure filings in US history projected for this year, the REO specialist is going to have his hands incredibly full. In 2008, almost one hundred and fifty million dollars worth of BPOs (Broker Price Opinions) needed to be completed on REO listings. That’s an incredible amount. When we move to actual REO sales totals from last year, the numbers are even more astounding. Statistics show that REO closings grossed over 12 billion dollars in 2008. So how much did of that 12 billion made its way to REO Agents? One estimate, taking into account expenses and overhead, puts the broker compensation at 5 million.

Yes, there was one business that went through the roof last year. One of the factors driving the rising number of foreclosures and REO properties is most economists’ predictions that home prices will decline through 2009 and not bottom out until late in the year or early 2010 at the earliest. Mark Fleming, chief economist of the Real Estate data firm First American CoreLogic, says that even in the most optimistic scenario, if a government stimulus package took immediate effect and completely stopped home prices from plummeting, the real estate market would still need at the very least a year to start showing any signs of recovery. “We’ll have to work our way out,” Fleming also commented. “Home prices are not like Lamborghinis; they don’t stop on a dime.

They’re more like trucks.” Falling home prices means more negative equity for homeowners – and rising unemployment figures mean more potential defaults and foreclosures. The perfect economic storm has hit – and it’s going to take quite some time to put all the pieces back together.

www.TheShortSaleSecret.com – This is a video of how one of my students closed a luxury home short sale deal on his very first deal with no previous experience, only 4.00 invested in the deal, and no use of his own credit. He made 9742.00 WOW
Video Rating: 5 / 5

Can I just submit the asking offer instead since I am in no rush?
I am in Southern California.

Best answer:

Answer by Christopher B
Uh… because they are representing the banks, not you.

The banks will normally use the same realtor for all of their REO properties in a given area. The realtor becomes their go to guy by getting the properties sold for a price that is favorable to the bank.

If they really want to unload a property, they usually have a list of cash investors who will buy a distressed property at a good investor’s price. The houses that are remaining are either in very good condition and the bank thinks they can get market value for, or they have some issues that investors passed on. In either case, the realtor will be looking for new, inexperienced buyers that they can pressure into a deal which won’t be at all in the best interest of the buyer.

REMEMBER: Any idiot with a lot of money can get 100% of their offers accepted. However, that doesn’t necessarily mean those accepted offers were good deals or good ideas. And in most cases, that person will be loosing money on these “investments”.

I would recommend you get pre-approved for a loan, or bring cash – and then make your dream offer. Stick to you guns. Wait and see what the bank does in return. The only way to know whether REO’s are good deal’s in your area is to evaluate recent comps, then subtract the repair value and your profit margin.

There are too many other properties available to let some bum who doesn’t have your best interest in mind try to get you to inflate your offer.

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