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#413730 - 10/02/12 04:29 AM Re: No new orders today ***** [Re: PalmBeach BPO]
Mike Tango Offline
Member

Registered: 09/14/07
Posts: 231
Loc: NJ
Slow here on North Jersey :-(
_________________________
NABPOP & CDPE Certified.
RE/MAX Broker/salesperson

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#413752 - 10/02/12 05:03 PM Re: No new orders today [Re: PalmBeach BPO]
Analog Man Offline
Major Contributor

Registered: 07/22/07
Posts: 2047
Loc: Tampa Bay
Crickets chirping rather loudly for me again. Me no likey!

I still attribute some of the BPO slow down to a large decrease of homes on the market, or perhaps even getting ready to be listed. There is a severe listing shortage of homes for sale in my area. So much so that list comps are very hard to come by now, with sold comps generally easy to obtain. This is a complete 180 from this time last year.

I don't get it.............
_________________________
Music is the only sensual pleasure without vice. (Samuel Johnson, English Poet 1709-1784)

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#413753 - 10/02/12 05:28 PM Re: No new orders today [Re: PalmBeach BPO]
Doin' bpose Offline
Major Contributor

Registered: 01/27/09
Posts: 3348
Loc: Old Dominion
Last month was slow, but I had let a number go by since I was involved in higher number of transactions than normal. I think even if I had taken all of them it would have been slow. From early 2012 I have definitely noticed a slow down.
I have parted ways with some companies over things like background checks and silly photo requirements and reduced fees.

Too early to tell this month. Yesterday was double the usual volume. Today nothing so far.

REO is vibrant in my area. My share has picked up to the highest levels I can recall. Everything hitting the market seems to be moving out the door.



Edited by Doin' bpose (10/02/12 05:36 PM)
_________________________
I can't. I'm going camping.

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#413756 - 10/02/12 06:45 PM Re: No new orders today [Re: PalmBeach BPO]
TampaRealEstate Offline
Member

Registered: 09/25/08
Posts: 116
Loc: Tampa
Last 2 months have been the slowest I have ever been. Wonder how long the larger mills can keep up with overhead before they start cutting back/fees...

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#413820 - 10/03/12 06:44 PM Re: No new orders today [Re: PalmBeach BPO]
Houston Agent Offline
Major Contributor

Registered: 01/26/05
Posts: 2125
Loc: Houston
Very, very slow here too.

I got six from CC on Monday, and thought that it was a good beginning to the month... and then got one yesterday, and none so far today.

Here, there is plenty of inventory. Our market is very balanced, with the exception of a Houston suburb north of me, where they're in a sellers market.

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#413835 - 10/03/12 10:53 PM Re: No new orders today [Re: 75Corvette]
R. Danneskjold Offline
Veteran Member

Registered: 04/10/06
Posts: 1020
Loc: Galt's Gulch
Originally Posted By: 75Corvette
A guy from Chase came to our office and said that short sales is where they want to go because it might cost them $15000 short sale vs. $30000 foreclosure. I understand the difference in lost value, but apparently the legal fees are killing them as well.


They came to our office with the same schpeel. That may be what Chase tells to the herd but these guys can print and create money out of thin air anytime they like. They can also force Congress to cough up dough for their coffers or threaten them with martial law if they do not comply (YouTube Congressman Brad Sherman Martial Law).

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#413914 - 10/05/12 03:43 PM Re: No new orders today [Re: Doin' bpose]
philliams1772 Offline
Member

Registered: 03/21/10
Posts: 46
Loc: United States
Let's not forget the role politics plays with this REO mess. After all, it is an election year. Flooding the market with REOs does not exactly help the incumbent get re-elected. I spoke with my Fannie Mae asset manager recently who intimated that assets are being held back because it is an election year and the floodgates will be opened in January. How reliable is that info? I don't know but it seems to make sense given the fits and starts that we've seen with BPOs and REOs all year.

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#413916 - 10/05/12 04:45 PM Re: No new orders today [Re: PalmBeach BPO]
Jwalkbpo Offline
Member

Registered: 10/04/09
Posts: 312
Loc: MI/OH
I think the banks(Fannie & Freddie included) have been using a strategy for at least a year by slowly releasing their inventory, so as not to flood the market. I am a bit skeptic you'll see a huge wave, but certainly an uptick. Its also why I believe that the price increases or stabilization of prices may be short lived. If job growth stagnates or outright declines, all of those prices will certainly start falling again. Prices have not been going up because of a strengthening economy, but because the banks have been keeping inventory much lower than is healthy, which gives the appearance of an improving market. When I hear the Phoenix area has gone up 30% in a year, forgive me for not believing that can last.

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#414455 - 10/17/12 03:19 PM Re: No new orders today [Re: PalmBeach BPO]
MassBPOer Offline
Veteran Member

Registered: 10/13/08
Posts: 816
Loc: Mass
Wow Just got 7 from RRR only 2 due this Friday other 5 due 10/26 and after. And only ask for 2 photos, front and address no street no comp photos.


Edited by MassBPOer (10/17/12 03:21 PM)

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#414527 - 10/18/12 10:30 PM Re: No new orders today [Re: MassBPOer]
floater Offline
Member

Registered: 11/14/07
Posts: 309
Loc: REO
Last time I was this slow for the year was 2008, an election year. This is all politics.

REO is not going anywhere in the long term. The only thing disappearing will be the brokers who roll with the next money maker.

This too shall pass....

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#414625 - 10/20/12 02:23 PM Re: No new orders today [Re: PalmBeach BPO]
MassBPOer Offline
Veteran Member

Registered: 10/13/08
Posts: 816
Loc: Mass
Got 2 more yesterday from RRR both due next Wednesday.

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#414629 - 10/20/12 02:47 PM Re:Landsafe-Inspectionport [Re: PalmBeach BPO]
Char K Offline
Veteran Member

Registered: 02/25/08
Posts: 831
Loc: USA
two comments: 1 this month ( middle of month ie right now) has been busier in terms of number of "opportunities" Companies I have worked for in months are sending orders. Of course I see a lot of RRR in there and they are making calls kind of like eval. I took two that are in my backyard but my rate for them is $35 for exterior. I have working for $35 bucks..........what is typical? even ORT is
$40~
2. What's with the out sourcing and SL??????
_________________________
Licensed Realtor since 2000

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#414630 - 10/20/12 02:50 PM Re: No new orders today [Re: MassBPOer]
Char K Offline
Veteran Member

Registered: 02/25/08
Posts: 831
Loc: USA
I got a great on like that from PCV! That's the way to get 'em done!
_________________________
Licensed Realtor since 2000

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#414635 - 10/20/12 04:03 PM Re: No new orders today [Re: Char K]
12 step 4 BPOs? Offline
Veteran Member

Registered: 06/28/10
Posts: 1288
Loc: Land of Tree Huggers
This past week was INSANE! Over 50 orders and 25 to30 is pretty heavy normally. WHOO HOO!

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#414652 - 10/21/12 02:10 AM Re: No new orders today [Re: 12 step 4 BPOs?]
neudot Offline
Major Contributor

Registered: 11/02/07
Posts: 1960
Loc: Central New York
I have an insane number of orders for the middle of the month. Have let several broadcast go by and turned down an interior that was about 30 miles away. Struggling with the remaining dozen or so, but gaining.

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