Election Season Is Over - REO Property Preservation Forum
 
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post #1 of 5 (permalink) Old 11-09-2016, 01:15 PM Thread Starter
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Election Season Is Over

How will the volume of work in this industry be affected in the short term future now that the elections are over? In my area during the 08' and 12' elections, volume slowed and then picked up after they ended. This year in my area and for many others that I know around the country, available work has slowed almost to a standstill.

I'm of the opinion that the banks and fannie mae etc. hold back on releasing REO properties during the election years for reasons that I don't quite understand. Can anyone here confirm that this is something that happens and why?
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post #2 of 5 (permalink) Old 11-09-2016, 03:26 PM
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March 2013 is when things started really gaining steam for us. It peaked May 2014.
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post #3 of 5 (permalink) Old 11-10-2016, 04:02 AM
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The shadow inventory some have mentioned previously ie the house that has sat empty for 6 years has come way down. The rag has been rung and levels are more or less near norms in most areas.
It seems unlikely that the next administration is going to put pressure on banks to ease lending requirements in the manner of the past.
Sometime around 2005, based on some inside sourcing and a lot of homework, we projected the glut of foreclosures would continue for 5-8 years. For us that has been pretty accurate. Constant and steady streams of bank work will not continue indefinitely, however most other areas on the private side will.
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post #4 of 5 (permalink) Old 11-11-2016, 10:01 AM Thread Starter
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GTX, I agree with your assessment about the shadow inventory. I still think that during the months leading up to presidential elections, the banks and fannie mae slow down their foreclosure processes either for speculative reasons or because of political pressures. I think that we will see an uptick in work volume in the coming months.
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post #5 of 5 (permalink) Old 11-11-2016, 10:31 AM
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Quote:
Originally Posted by WestCOREO View Post
GTX, I agree with your assessment about the shadow inventory. I still think that during the months leading up to presidential elections, the banks and fannie mae slow down their foreclosure processes either for speculative reasons or because of political pressures. I think that we will see an uptick in work volume in the coming months.
We were slow in July and almost stagnant in August, then september we got busy.
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