REO Sales and Why Banks Need Your Help - Kent, Kevin A; Crimmins, Jimmy
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During challenging times, smart real estate agents are looking for doors to open, that magic bullet, new relationships, or maybe just the perfect script for a changed market. After the recent pandemic lockdown that resulted in very high unemployment numbers,you can bet we will see a resurgence of bank-owned(or OREO/REO)properties. We saw what happened in 2008, could it happen again? Probably not to that extent at all, but a percentage of mortgages will go back to the banks if people aren't working. Banks will again need to remove the toxic loans from their books. There will be investors and…mehr

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Produktbeschreibung
During challenging times, smart real estate agents are looking for doors to open, that magic bullet, new relationships, or maybe just the perfect script for a changed market. After the recent pandemic lockdown that resulted in very high unemployment numbers,you can bet we will see a resurgence of bank-owned(or OREO/REO)properties. We saw what happened in 2008, could it happen again? Probably not to that extent at all, but a percentage of mortgages will go back to the banks if people aren't working. Banks will again need to remove the toxic loans from their books. There will be investors and smart buyers looking to make deals regarding these properties. The distressed property market will grow again. Recently, we have been marketing properties with social distancing, no open houses, and limited showing opportunities. The fundamentals of real estate marketing will shift again.
Autorenporträt
Jimmy and Kevin have known each other for over 40 years. They met in Hollywood at the Guitar Center, in 1980. Jimmy was the sales manager, Kevin ran the keyboard room where he set sales records. They stayed in touch and followed each other's careers over the years.By 2015, both were knee-deep in the Real Estate business, Kevin living in Orange County, California, and Jimmy in Green Bay, Wisconsin. Jimmy sold over 390 REO properties in the last few years. Kevin's worked most in Luxury properties along the coast but has experience as a writer and marketer. As a real estate agent, he wanted to understand Jimmy's success and process in obtaining and selling REO properties, and most importantly, why he was successful with the bank.