This data comes from an interview with Bank of America, Dave Sunlin, senior vice president for foreclosure and real estate management division.

The entire article is here:

http://www.bloomberg.com/apps/news?pid=20603037&sid=a_NoPFp0r8Y4

Cutting Losses

Losses on prime loans going through the foreclosure process averaged 49 percent versus 34 percent for a short sale as of Oct. 1, according to a Nov. 10 report by Laurie S. Goodman, senior managing director of Amherst Securities Group LP. For subprime loans, losses averaged 73 percent for a foreclosure compared with 59 percent for a short sale, Amherst reported.

“The loss severity of short sales is lower but it’s not low,” Goodman said.

www.SellMyHouse.com

Bank Owned · Foreclosures · short sale · stop foreclosure

The story of St Augustine, FL – Our most recent market.

We found our St Augustine Realtor and opened that market in September. Because we have a variety of selling choices for our clients, we have been able to make an immediate impact in that market using our fsbo marketing campaign. To date, we have already had 2 closings, and have one scheduled later in December. So, our Realtor Partner has already generated almost $12,000 in commission because of our relationship.

It works and we have markets all over the country proving that everyday. If you truly understand our relationship, you understand just how much leverage our company can give you in your market. We have some tremendous partnership opportunities in the hopper for the new year as well.

If you are like 90% of other Realtors around the country your annual income looks like the Screamin’ Eagle roller coaster ride at Six Flags. The winter months are always the leanest for most of us that dont live in warm retirement retreats. I expect this year will be no different than most, especially considering the current market conditions we are facing.

December and February are the months you have to push hard to create the activity needed to jumpstart your spring paycheck. The same could be said for February marketing efforts in preperation for the spring selling season. Here are a few tips that we utilize with our Realtor Partners at www.SellMyHouse.com.

1. December/January are the months to hit the FSBO market hard. They are frustrated that they havent sold yet and are starting to worry their house will not sell. We have a marketing strategy that will get you infront of as many of these sellers as possible over the next 5 weeks. If you do not have a strategy or are having a hard time converting these people into listings here is one technique that we utilize: FSBO Marketing
2. Go after the Expired List. A little different approach but the same thought process. They have already listed so getting past the commission issue is not the issue. They are looking for something they havent already had. You have to go the extra mile with marketing, personality, expertise, etc. We use an online auction angle.
3. If you are not plugged into the investor sector it is time to get plugged in. This group represents almost 50% of the current transaction volume around the country. Join investment clubs, research specific neighborhoods, and become an expert! This can be a very complicated sector to break into because this group doesnt typically like to just ‘list’ their properties with any Realtor. You need an angle. Either you are the reason they find good deals or you can help them liquidate quickly to make a profit. If you happen to have access to both ends of the transaction then local investors will come running. This can take years to build however. Our investor network has been in the works for 8+ years. But you have to start somewhere or get hooked up with somebody who can help you. The waiting list to become an REO Agent is longer than a nice walk thru the desert but it is a place to start. We follow a different approach that may help you via Wholesalers.

Time to hit the streets again folks. It isnt the funnest part of our job and sometimes it isnt pretty, but, the Realtors who get out after it are the same Realtors who are vacationing in Jamaca in January. You can be one of them if you are aggressive and have the right platform!

Ask us how we can help you make more money by emailing businessdevelopment@sellmyhouse.com.

Jason K Roberts

Founder & CEO

www.SellMyHouse.com

Lead Generation · Realtors