Massive Decrease in Volume - Page 2 - REO Property Preservation Forum
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post #11 of 13 (permalink) Old 08-26-2018, 09:19 AM
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I am still getting work from Cyprexx here in Palm Beach County, Florida. Earlier this year Fannie Mae trimmed their realtors down to 3 in the county and inventory is down. Apparently we made the cut of vendors as I am still getting some fairly steady work. It always slows down during summer and I am getting more maintenance work from them. I understand from my realtor contacts that they are having discussions in their meetings about the next real estate bubble busting so I'm hoping this means it will be sooner than 3-5yrs. Not that I wish anyone ill but this is my work. Meanwhile I am picking up more private work. I have noticed too that some of the properties I am getting initials on have been titled to Fannie Mae for awhile so apparently have just been sitting in inventory. Don't know how to gauge how large that inventory might be though. Need to go back to a regular job at this point in time I guess...
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post #12 of 13 (permalink) Old 09-08-2018, 07:50 PM
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We are in the same boat....guess we are going back to regular jobs and quit spending all of the money on insurance etc. I don't wish anyone ill either but we enjoy what we do oddly enough.
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post #13 of 13 (permalink) Old 09-12-2018, 03:33 PM
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Quote:
Originally Posted by REPAIRPRO30 View Post
Volume will not pick up again for another 3-5 years. Right now down here is South Florida everything is about new construction, new properties people are buying like crazy a house development is about to finish the last house and they are all already sold out. The only problem is you wont find anything cheaper than $350 k and mortgages are running for $2,800-$3,500 a month. The question is how long are people going to be able to keep with those really high mortgage payments?

well that's about 3-5 years just hang on tide. We are doing lots of residential work, switch your business a little, preservation is dead on top of the fact we have to wait 60 + days to get paid.
who are you doing inspections for in south florida?
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