Making Money On REO Properties
The market for REO properties is just not in the selling of them. With the average cost for unloading a foreclosure is $60,000 for a bank there is a great deal of money on the table in servicing REO properties. The Washington Post has an interesting article discussing the different ways people are making money in the REO market.
“Everybody right now is trying to get into REOs or they’re trying to make a buck off of someone trying to get into REOs,” said Michael P. Krein, president of the National REO Brokers Association, a 10-year-old trade group. “It’s a cycle we’ve seen before.”
When the market is thriving and foreclosures are few, the REO industry shrinks. When the market sours and foreclosures soar, the industry expands because of a lender-driven hiring spree.
The hiring starts in-house. When foreclosures rise, lenders beef up their teams of asset managers. Those managers hire people to handle the logistics of selling those homes. read the rest at the washingtonpost.com.
Click here to for a Free Foreclosure search in your area if you are still interested in getting into the foreclosure game to find properties near your home.
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
I'll add mine to the list too. This is happening in Kansas City, Missouri as well now.
We already knew ...
Comment by jimmy collins on 22 January 2009:
i would like to sell these property