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New Assignments in 2011? The year of Liquidations?

Posted by Shawneequa Badger on January 3, 2011 at 8:27am in Sample Title

Happy New Years!

 

How many of my fellow real estate professionals woke up to the first working day of 2011 with BPO and/or REO assignments in their inbox? 

 

I've received a couple BPOs from PVC, one BPO from ORT and 2 REO assignments from LPS.

 

Who else is enjoying this New Year?  I'm interested in knowing what everyone else's predictions for 2011 will be.

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Tags: assets, inventory, liquidation, reo
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Replies

  • BOB ROUSE January 13, 2011 at 3:56pm
    Been kind of slow in my section of Virginia.  Getting two or three BPOs a day from different folks but REOs are what I do.  Down to eight active listings.  Like to carry 15-20.
  • Olivia M Pineda January 13, 2011 at 3:25pm
    Congrats Shawneequa!!! That is awesome!
  • C J Johnson, Broker/SFR/CRS/ABR January 11, 2011 at 11:44am
    Over a dozen BPO requests this week alone. 4 new REO's and 1 is already in escrow in 8 days. Don't cebrate yet though.  Check this out...in California the average time to see a foreclosure make it to market is 411 days from the filing of the Notice of Default...wait for it...the number one NOD filing month in California history January 2010, what do you think we are gonna see in March of 2011?  We need a new word because wave or tsunami is not even close to what is on the way it will be much worse.  Now today Fannie and Freddie announce are going to raise every borrower to premium pricing even with a FICO of 800 on all loan originations. Translation it could cost an additonal $10,000+ to close on a conventional loan of $400,000 Yippie, can't wait for the governments promised housing recovery 2011...NOT
  • Muhammad Mushtaq January 10, 2011 at 5:21pm
    In last 12 hours, received another assignment with 5 exterior BPO and 1 Commercial CMA. It is start of the week bro. Will see how it ends.
  • Muhammad Mushtaq January 10, 2011 at 11:25am

    Well said Julio,

    I received an assignment last Friday. The bank paid $13,565.00 only in condo dues. This is going to get really ugly.

     

    • Shawneequa Badger > Muhammad Mushtaq January 10, 2011 at 3:08pm
      Ouch!  That hurt to even read this post.  Ugh!
      • JOSE FREITAS > Shawneequa Badger January 10, 2011 at 4:31pm

        It has been quiet in my court, so far....

        But, as we all know, the pipeline is full....  give it some time down the road, it will eventually burst by its seams.....

  • Greg Masson January 7, 2011 at 6:19pm
    No REO's but from the 3-7 my BPO's are 20 CC, 8 SLS, 3 SS, 3GD, 3 Five Bros. , 1 PCV, 1 RES. Also got approved for REO's from ATPAC, and approved by Chase. A good start for the year, and I currently have 7 REO listings.
    • Shawneequa Badger > Greg Masson January 10, 2011 at 3:08pm
      Oh yes, I would agree with additional BPO work.  I've seen so many borrowers trying to list in a last minute ditch to either legitimately salvage their credit or on the other side buying more time.  Some of these homeowners have been in default for way too long and it becomes a burden for the economy at large.  Its unfortunate but true.
      • Silvia Muro, CDPE > Shawneequa Badger January 10, 2011 at 5:51pm
        Completely Agree with you.
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