have slowed down big time - REO Property Preservation Forum
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post #1 of 23 (permalink) Old 12-02-2013, 07:50 PM Thread Starter
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have slowed down big time

Is anyone else run into this problem? This time last year I couldn`t keep up, now lucky to have enough threw the week to keep busy. or get small jobs that dont pay!
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post #2 of 23 (permalink) Old 12-02-2013, 07:56 PM
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Yep. We have lots of bids and pendings in the air but no one is pulling the trigger. That and the volume of properties our brokers are getting has changed as well.
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post #3 of 23 (permalink) Old 12-02-2013, 08:10 PM Thread Starter
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Yep. We have lots of bids and pendings in the air but no one is pulling the trigger. That and the volume of properties our brokers are getting has changed as well.
GTX63 I was doing a clean out a couple of weeks ago and guy showed up to appraisal on property. He told me he did appraisal on FHA,Fannie Mae, Freddie Mac,ect properties and has seen a big slow down as well. He thinks it`s due to the Government shut, thinks it`s just affecting use now.
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post #4 of 23 (permalink) Old 12-02-2013, 08:11 PM
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Yep. We have lots of bids and pendings in the air but no one is pulling the trigger. That and the volume of properties our brokers are getting has changed as well.
It USED to be normal this time of year till after JAN 15 it would DIE. I have not seen it this slow for a wile either. I have to speculate that it could be tied in with the debt limit in February that I have herd won't be delt with till election 2014. That is just playing kick the can if nothing is done I say.
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post #5 of 23 (permalink) Old 12-03-2013, 05:09 AM
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It would typically die down after thanksgiving for 45-60 days in years past due to moritoriums, for instance. No, the government doesn't like to see people thrown into their front yard over the holidays. However, even if we were still doing business with the wagon train of crooks we did in the past, we wouldn't come close to the numbers of even say, 2-3 years ago.
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post #6 of 23 (permalink) Old 12-03-2013, 07:12 AM
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we have been fairly steady here. Been getting a lot of CFK work orders lately.
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post #7 of 23 (permalink) Old 12-03-2013, 10:40 AM
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He told me he did appraisal on FHA,Fannie Mae, Freddie Mac,ect properties and has seen a big slow down as well. He thinks it`s due to the Government shut, thinks it`s just affecting use now.
Appraisals have slowed because interest rates have increased. When you could refi for 3.2, EVERYONE jumped on that train and the appraisers were running around like crazy. Now the train has slowed because the interest rates have risen, has nothing to do with government shut down. I'm surprised an appraiser does not know this.
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post #8 of 23 (permalink) Old 12-03-2013, 02:22 PM
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Haven't slowed on the amount of orders that much. But, the quality is horrible. Lots of property condition orders and check convey condition orders. Only a few real "work" work orders.
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post #9 of 23 (permalink) Old 12-03-2013, 04:15 PM
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I get busy this time of year

with the AMS stuff, the guys that are smarter than me drop them after landscape season, and my routine territory expands, along with all the work orders for those properties.
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post #10 of 23 (permalink) Old 12-04-2013, 10:09 PM
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I spoke with 7 BOTG's in our area today...3 of them have had no work in the last two weeks and the other 4 have only had a couple of initials...
This area always gets to a stand still thistime of year...least since 07 it has....

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