real Estate
Ensure Earnings With REO
REO is the new big thing in the real estate industry. However, only few real estate agents are aware of this. This is good news for real estate agents who have been greatly affected by the tough economy. If you are one of the many agents who are just discovering the earning potential of the REO market, then you are in perfect luck. The REO market is expected to continue to grow, which means more earning opportunities for you.
The REO Earning Potential:
As you may already know, REO properties are those acquired by the lenders after their borrowers foreclosed. This might be a good thing in a seller’s market, but not in a buyers’ market like what we have today. Lenders have a pretty high inventory of REO properties, which they have to take care of and maintain. These assets are useless to them unless they start generating profit. To do that, they will need the services of a real estate agent.
REO Boom is a book that presents a step by step guide on how to become an REO listing agent. You need to be a listing agent to access different REO information, which is vital for your success. A how to list REO blog will be useful, but having a copy of the REO boom will be more beneficial. Bear in mind that only few agents have access to the REO listings because lenders would only want to work with the best. If you want to be one of the best agents, the book will serve as your guide. It does not matter if you are a new agent or have been an agent for several years.
In order to start earning, you need to have a plan on how to get into the REO business. You should also master the entire REO process. Learn about the means to fund your REO business and discover the secrets to maximize earning potential. All this and more is found in the book, REO Boom.
The responsibilities of an REO agent:
The major reason why lenders hire an agent is to sell their properties and convert those idle assets to cash. However, there are more ways to earn in the REO business. But first, you have to learn how to become an REO listing agent. You need to become an REO listing agent to access REO lists. Only few agents have access to this, this entails promising profits for you.
You should also master the BPO or the Broker Price Opinion. Here, you will assess the REO properties and determine their prices, which is below market value of course. You will determine prices after considering the location and other properties in the area. The property itself will be considered in the price determination as well.
Maintenance of the property is also a major concern of the lenders. They hand this responsibility over to their real estate agent, which is why REO agents must be familiar with the maintenance of the REO properties as well. The agent can pass the task to contractors and builders, thus, sharing the earning potential.
REO presents great opportunities for earning. In order to take advantage of that, an agent must be willing to learn the different processes and tricks of the trade. Fortunately, books like the REO Boom are available to make the jobs of the agents easier.
Gulf View Estates Real Estate for Sale, Venice Florida
An opportunity to acquire a home in Gulf View Estates is one that is certainly worth serious consideration for those seeking properties in the Venice real estate market. This property is well-located just off Englewood Road that also links to other major local thoroughfares like Jaracanda Blvd. and the South Tamiami Trail. This location brings the Gulf View Estates residents close to shops like the Venice Shopping Center and Walmart, as well as to popular restaurants such as Outback and Panda Express.
The homes for sale in Gulf View Estates are moderately priced with some residences having asking prices under the $200s. For instance, a pool home in this community developed during the mid-1980s can be in the MLS with a tag price of about $130,000, featuring a floor area of 1,580 square feet, two bedrooms and two baths. Three-bedroom homes having floor spaces of 1,450 to 1,650 square feet can likewise be on sale from $170,500 to $190,000.
Covered by deed restrictions, the homes in Gulf View Estates are set in a nourishing environment of exquisite landscaping. There are ponds within the lush setting of the community which attracts charming birds and wildlife that further enlivens the locality.
Even more charming, the residents of this neighborhood are only about two miles away from the unspoiled beauty of the Manasota Beach. The options for leisure and recreation abound in this 14-acre beach between the Intercoastal Waterway and the Gulf of Mexico. It has two boat ramps with extensive dockage that doubles up as a boardwalk for visitors to enjoy the refreshing scenery. There are also dune walkovers, picnic shelters, and volleyball courts that offer a slew of activities in addition to swimming, fishing, and boating available this beach. Construction of pedestrian pathways and additional parking spaces is also underway to further upgrade this beach.
Excellent sports facilities along Englewood Road provide added value to homes for sale in Gulf View Estates. Golf, for instance, can be enjoyed at the Boca Royale Golf and Country Club, which is just a short distance south of Gulf View Estates. Erstwhile a private club, Boca Royale has been opened to the public, offering challenge both to duffers and professionals in its 18-hole newly renovated links. Privileges in tennis, socials, and dining are likewise offered at this semi-private, member-operated club.
The Englewood Tennis Club is yet another option for the Gulf View Estates residents hooked on racquet play. This facility is owned and managed by a mother and son tandem that parlays 30 years of tennis experience in providing some of the best tennis facilities and services in Venice.
Hobbyists in the Gulf View Estates community, for their part, can have their hands full in The Open Studio, also on Englewood Road. This non-profit organization runs various training activities on ceramics-making, music, weaving, and even yoga, for participants of all age brackets.
NAR Numbers Still Don’t Add Up!
The revised existing-home sales have now been reported by the NAR. As reported, for the total period between 2007 thru 2010, the benchmark revision decreases existing-home sales by 14.3%. NAR states, “It appears that half of the revisions result solely from a decline in for-sale-by-owners with more sellers turning to Realtors(r) to market their homes when the market softened. The FSBO market was overwhelmed during the housing downturn, and since most FSBOs are not reported in MLSs, national estimates of existing-home sales began to diverge based on previous assumptions.”
Now here’s where the shell game begins, so pay close attention to the facts given by NAR and then you can decide what’s going on. NAR quotes the decline in FSBOs from the year 2000, not 2007, the base year of the revision! As reported by NAR, in 2000, FSBOs were 16% of all existing-home sales, declining to 9% in 2010. Seems like a huge decline in FSBO sales. So, why do you suppose they selected the year 2000 for reported FSBO sales when the benchmark revision is from 2007. Based on the annual NAR research study of home buyers and sellers, the facts are as follows. In 2007, FSBO sales accounted for 12% of existing-home sales, in 2008 (13%), 2009 (11%) and 2010 (9%). So, during the period of the benchmark revision, the percentage of FSBO sales varied little more than a few percentage points, hardly what I would call “FSBOs being overwhelmed during the housing downturn.” More importantly, NAR failed to communicate that the percentage of FSBO sales actually increased again in 2011 to 10%! In light of this, it is hard to comprehend how FSBOs could account for ‘half of the revisions’ during the period from 2007 to 2010.
If indeed FSBOs are the cause of the decline, why then did the benchmark revision only adjust the data from 2007 and not all the way back to 2000. Moreover, to the extent NAR identifies FSBOs to be the cause, and to the extent NAR studies FSBO sales annually, why did NAR wait 10 years to adjust the data! It just doesn’t add up. It seems to me that FSBOs are unfairly being singled out as the primary reason for the benchmark revision and that NAR once again is trying to minimize the importance of the FSBO seller.
NAR appears to have an agenda to paint a picture that FSBOs are becoming less and less important in the real estate landscape. Nothing could be further from the truth. NAR conveniently limits FSBO sales to only those sales that don’t involve a Realtor(r) in any way and omits the fact that there is an equally large portion of home sales that are in fact a FSBO sale that use a hybrid selling model…flat-fee MLS. These hybrid FSBOs understand the value of being listed on the MLS for agents to see. They can get the best of all worlds by using the services of a flat-fee MLS agent to put there home on a local MLS and put more money in their pocket by only paying a buyer’s agent a commission which is usually somewhere between 2-3%.
FSBO sellers are here to stay in one form or another. FSBO sellers out of financial necessity are figuring out how to put more money in their pocket by selecting Realtor(r) services ala carte to suit their specific needs. FSBO sales in the broader sense are not declining and we need to embrace new business models that embrace all home sellers and not just those willing, nor able to afford to pay 5-6% for traditional full-service support.