First off, I hope that everyone is having a great week and month so far. Amidst the tough economic times it's easy to forget the positive aspects of life. For a starving child in Mozambique 1 meal of rice and beans shared by a whole family is a great day. For a village in Sierra Leone to have education for their children is a miracle. Others in China pray that they won't be martyred for expressing their religious faith today.
I guess "tough times" becomes a relatively less painful term when you value what you do have and hold tightly to it. America is still a great place for us to be.
According to contacts and members of NFSTI around the nation, there still is a slow trickle of REO/BPO assignments around the nation regardless of the moratorium or lack thereof, making things still a little rough on business. Growth is a word that most of us are aching to use, but wonder if it will happen any time soon.
It appears that there is a tightly-sealed valve being placed between defaults and REO assignments - my guess is to keep values up. It seems to be working. Cities around the nation, such as Denver, are seeing values stabilize due to multiple-offer situations as investors squabble over the remaining REO inventory.
There is no publicly-available notice of this decision to slowly leak out REO's. It's something that you have to deduce from calculated reasoning. Although, I was privy to some inside information from a contact at a well-known asset management company who did verify this theory in their case (let's leave them anonymous).
As always, NFSTI promotes the business method which has been successful over the decades throughout several recessions - keep marketing. It has been proven time after time that businesses who continue and improve marketing through a downtrodden market not only survive but come out ahead when the market picks up.
Here are a couple of ways that we've been able to improve marketing:
1. Offer better service.
2. Price reductions.
3. Leverage technology whenever possible to save time and resources.
4. Social Media: Marketing through websites such as www.twitter.com, www.linkedin.com, www.facebook.com, www.trulia.com (Trulia Voices), www.activerain.com, www.ning.com.
5. Understanding the ever-changing needs of our audiences.
We wish you continued success~
This entry hasn't been re-blogged:
Re-Blogged By Re-Blogged At
- The National REO Brokers Association
- REO REALTORS
- NFSTI (National Foreclosure Sales Training Institute)
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