Floggin' them BPOs

Sorry I haven't posted in a little while, I have been busy. I got another REO or two, but I have been consumed with doing BPOs lately. I view BPOs as kind of a loss leader, but I think they are an excellent way to stay on top of the market and to keep your name in front of the eyeballs of some unknown person or persons who may well one day stoke you out by sending you that fattie REO...I've also been busy workin' a few buyers. Oy vey, that's a hard way to make a living. Still, though, I'm excited to work with buyers because, as we all know, nobody ever got rich selling real estate. You get rich by buying it, and is sure a good time to buy it.So here's something funny. I wrote up a couple of offers yesterday. One of them was for a short sale, being sold by an agent - not his primary residence. Looks like we might put that one together. And today, I'm doing a BPO, and I'm researching away...nice house, estate-type property, acreage, ocean views...owned by the same Realtor who is selling the property I just put an offer in on.I make a little trip over to Realquest.com, and I see a notice of default was filed on this lovely property back in May 2008. D'oh.You see a lot of that - many Realtors are losing their homes to foreclosure. I expect the same is true of mortgage lenders. I expect appraisers, though, for the most part, are still happily ensconced in their abodes, they probably have plenty of work these days.So keep muchin' them BPOs, the taste of irony is bittersweet.
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