New real estate crash in 3,2,1...
-
-
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Oh, this is fine. I mean, when’s the last time shady real estate values nearly crippled our economy? It could never happen...
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
When do the liar loans start up again?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
BPOs are used to put a quick value on a property in that has a rep-performing, sub-performing or non-performing koan on it. Firms always “fade” these BPOs, ie discount them. If a BPO comes back at 200k, it will be discounted 15-35% placing a value of 170-130k on the property.
-
Saying that BPOs are typically inflated, fundamentally misunderstands the role they play for the firms that hire them. The investor wants to pay the lowest price possible, therefore the BPO firms are incented to keep their clients, (purchasers of bad debt), happy by UNDERVALUING
-
properties, not overvaluing them. If they overvalued them, their clients would pay a higher price and the ROIs would be lower. Wall St firms track returns carefully, if they find BPOs came in high on an investment, they won’t use those firms/brokers again. This is how it works
End of conversation
New conversation -
-
-
I’ve been around this industry for a while and I can tell you these drive by appraisals are fine most of the time. Most of the “improvements” people make to their home don’t raise the value nearly as much as they want to think. What’s happening in your area means volumes more
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
@Vail_Chris
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Sweet. Letting Wall Street drive the real estate market has never caused problems before.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
BPOs? Toss them in the shredder. Broker's made idiots of everyone in America. Meaningless product. Utterly meaningless product! So many were used as a cost cutting measure and slapped together. We're creatures of habit and are sure to repeat our mistakes.
-
If they come back then we learned nothing from '04-'08. Nonetheless, historically we repeat the same mistakes so I would not be surprised. Good luck.
End of conversation
New conversation -
-
-
It looks like Pentagon Trail Across and that day
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.