REO Process

An interesting thing happened on the way to the forum.... Oops, that's from the movie.

The good thing about dealing with lender owned properties in the current market is that it's a lot like riding a bicycle for agents. I remember learning to ride that bicycle, falling over, bumping into things, misjudging where I was going. The came can be said for REO sales. Once I got it figured out, it's a process that just has to be navigated.

The flip side of this is helping the first-time homebuyer be patient with the whole thing. They don't know what they don't know. As their agent, it is my job to explain everything ahead of time, what may happen, and if certain things happen, how much time and what the potential outcomes are. That said, we are playing the waiting game. First time for this client, and she is so clear on what she wants. She really likes the house we found, and now is anxious for a decision. Who can blame her. I recall vaguely the anticipation of the first house I bought.

It is nice to be able to reassure her that this happens, and it seems a bit more lately. That is good news because it shows that the market is active, pricing (in my opinion) is at or very near the lowest point it will be. Interest rates are great and it is time for people to make the move into home ownership.

I'm looking forward to this weekend and a favorable answer for my client. What are YOU waiting for? Give me a call and I'll help you get started looking for your new home!

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