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616 Posts
My work load has fallen off like it was back in 2007, DEAD ! Whats yous like. ?? West coast here
Work load so far 2012
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Just sent YTD's to the accountant last Friday for his .02 on tax stuff so far, +35% from 2011, and it doesnt seem to be slowing yet. . .
I, however, am thinking of droping the client that gives me 40%+ of my work, as they are only ~25% of my income. Seems like an easy decision, yet still, I am undecided.
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Glad to hear it. In my area it has always been a bit slow but this as stated is BAD. Luckily I had a sixth sense and started cutting costs last year and put more money away in a "rainy day " fund.
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I've been reading some articles about the mortgage industry. They say the mortagage companies are in a glut with foreclosures. It appears the MC's are starting to slow down on foreclosures, working with the home owners a bit more before taking the houses. This could account for the slow down.
I read one article that said the MC's have about 3-4 years worth of foreclosures, that is, it will take them that long to process and resell the houses already in their inventory.
And one commen t I read - a massive new crop of foreclosures is about to hit the fan, held up over the past several months by litigation about bankers "robo-signing" foreclosure packages.
So, it just goes to show you...nobody knows.
I read one article that said the MC's have about 3-4 years worth of foreclosures, that is, it will take them that long to process and resell the houses already in their inventory.
And one commen t I read - a massive new crop of foreclosures is about to hit the fan, held up over the past several months by litigation about bankers "robo-signing" foreclosure packages.
So, it just goes to show you...nobody knows.
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616 Posts
yes that is true I was told that the industry was going to be at a snails pace till 2015 by a Realtor that just came back from a conference in California. It changes day in day out. And in an election year who knows what to believe. All I KNOW is its definitely time for a change !! NO matter who is in office we CAN NOT have another 4 years of this !
I've been in the biz since beg of 08'
every year has seem to get busier and busier. when 2012 hit it was insanely crazy. i was going through 90 locks every week and a half, non stop secures, cash for keys and trash outs. then the grass cut season starts in april and we get all these notices about how large the work load is and then is pours out and were struggling to keep up with the workload but still getting them all in. then...
for the past few weeks, nothing! well I've had a few trash out each week but no grass cuts like it should be for this season. I'm only working a few days a week, not enough is coming through to warrant a full week. my operation is myself, my main guy and another helper.
not sure whats going on right now.... where is all the work???
i work for a national in the sf bay area and they stated they haven't received anything in the pipeline (confirmed from a few other contractors with the same company that are dead slow also)
every year has seem to get busier and busier. when 2012 hit it was insanely crazy. i was going through 90 locks every week and a half, non stop secures, cash for keys and trash outs. then the grass cut season starts in april and we get all these notices about how large the work load is and then is pours out and were struggling to keep up with the workload but still getting them all in. then...
for the past few weeks, nothing! well I've had a few trash out each week but no grass cuts like it should be for this season. I'm only working a few days a week, not enough is coming through to warrant a full week. my operation is myself, my main guy and another helper.
not sure whats going on right now.... where is all the work???
i work for a national in the sf bay area and they stated they haven't received anything in the pipeline (confirmed from a few other contractors with the same company that are dead slow also)
i have one national now and a group of about 10 agents i do work for regularly but things across the board have died down
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Election year. The closer we get to the vote date I feel we shall see a slow down. One candidate said they are not going to do anything ... Just let it take its course. We shall See. Slow here too .... Nothing like the goodol days of 07 to 09 where we were rolling 4 to 8 property's per week and I was Thrashed but the bank account wasn't like today !!
Sounds like you got replaced by the national. Amazing how quickly they can switch contractors.
Wow you must be right, I guess they replaced all their vendors in that case since we're all slow, but it's strange why they would still assign me evictions like the 2 I have next week.... Hmmm...
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4,096 Posts
Yup.
An article in the local paper makes me wonder if there isn't a lot of this going on.
The article was about gooberment subsidized housing and how the money from the feds keeps going down while the local housing authorities need to have it go up to cover expenses of renting to those on social security etc.
One of the quoted senators said that because of all the national debt that every agency and gooberment program needed to tighten its belt. I have to wonder if that belt tightening has led the banks to stop doing several things.....
1. kicking out the house's occupants even tho they are way behind
2. they aren't willing to spend any of their own money on taking care of the houses and so are just leaving the already vacant ones sit
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It Seems to Be Slow here too
We have noticed a significant slow down in preservation and repair work since the middle of April. The Year started off much busier. We have also seen a big decline in 203k Renovations as well. I think that what was mentioned earlier about the moratoriums having played out some of the slow down is accurate as well as the recent spring selling season having been more controlled by Refi's than purchases. Additionally I think that the spring selling season was a very good one for New Homes which caused a drop in foreclosures being picked up. I think these factors are contributing but I have a fear that there may be more beneath the surface...
We have noticed a significant slow down in preservation and repair work since the middle of April. The Year started off much busier. We have also seen a big decline in 203k Renovations as well. I think that what was mentioned earlier about the moratoriums having played out some of the slow down is accurate as well as the recent spring selling season having been more controlled by Refi's than purchases. Additionally I think that the spring selling season was a very good one for New Homes which caused a drop in foreclosures being picked up. I think these factors are contributing but I have a fear that there may be more beneath the surface...
hi
2011 was a banner year for us,2012 a totally different story,spent more on traveling to jobs,giving estimates then ive made,signed up with 4 nationals and hardly no work with any of them,im not in a real populated area but you see foreclosures everywhere and grass in yards a mile high.
2011 was a banner year for us,2012 a totally different story,spent more on traveling to jobs,giving estimates then ive made,signed up with 4 nationals and hardly no work with any of them,im not in a real populated area but you see foreclosures everywhere and grass in yards a mile high.
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4,096 Posts
After my stint in the industry I am convinced that for the most part..... the banks DO NOT CARE about these properties.
They are an inconvenient problem to them that must be dealt with. Some times sooner rather than later but in many cases they try the out of sight out of mind approach.
The entire time they do that the property value is dropping like the proverbial rock.
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