Two Points: Selling An REO Property and Home Prices Dropping

Hi Folks,


   Hope you're having a peaceful week. 2011 is just a few days away. Doesn't 2011 sound like such a futuristic year?

   Well, today, I would like to share a post that was written by Bob Corcoran, titled, "Five Tips to Sell REO Properties Faster", and the reason that I am sharing this with you is that this post goes hand-in-hand with my post of November 26th, which is titled, "Post-Foreclosure REO Property Maintenance". Corcoran's post looks at how to prepare an REO for sale from a Realtors point of view, but is also applicable to investors or any other parties.

   Corcoran says that, "The house needs to look just like any other house on the market in the neighborhood.", and he points out his 5 tips as follows:

1. Be a cleaner: Corcoran emphasizes that you, "have to be willing to do what it takes to get the house sold."

2. Think colors: Corcoran states that, "Red says to stop and yellow adds a warmth and coziness."

3. Add smells: "If it smells like bad, it doesn’t matter what it looks like.", says Corcoran, who suggests using air fresheners and a fresh pot of coffee. He says that, "The smell of coffee imparts the best of emotions. It tells people this is a good place to raise kids, it gives a warm and a comforting feeling."

4. Put up signs: Corcoran says that when you're marketing an REO property, "you need to make sure that it’s depersonalized and use cue cards – white piece of paper on the wall – that explain to prospective buyers the positives on what’s been done to the property."

5. Communicate often and regularly: This tip refers to the relationship between the bank and the Realtor, and Corcoran advises that, "When banks assign the Realtor to a property, it expects them to become the eyes and ears for everything that has to do with that property."

   These are some fantastic tips, and are of great use to the entire Real Estate community.

   Now, on to Part 2 of this post: The S&P/Case-Shiller Home Price Indices were released yesterday, and as per the report, "Six markets – Atlanta, Charlotte, Miami, Portland (OR), Seattle and Tampa – hit their lowest levels since home prices started to fall in 2006 and 2007". Bright Side? It looks like the major cities in California bounced back. Do you live in California? If so, this might make you happy?

   Thanks for hearing me out! Comments? Questions? Suggestions? You have tons of options for feedback here.

Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog http://blogging.lease2buy.com
HomeRun Homes Website http://www.lease2buy.com

TAGS: #reo #foreclosure #realtor #realestate