One of the main draws to my blog includes my free BPO list I make available to all agents. What goes into a good BPO list? How do you know which are the good and bad companies? Constant Work-in-Progress Since I compiled my list back in 2009, there have been many changes in the BPO/REO [...]
No shortcuts Some real estate agents think that they can just call a bank and ask for their REO Department, and BOOM! Instant BPOs and REO listings! In the real world, that’s not the way it works. It takes hard work, just like anything else in life. There are no shortcuts – you must put [...]
The Argument Many appraisers try to argue that broker price opinions are a HUGE problem in the market. they say that BPOs are causing all sorts of problems since they are basically “cheap appraisals” and the old adage “you get what you pay for” applies. In general, here’s the argument from the appraisers:
With the $8,000 first-time homebuyer credit deadline looming (April 30), it got me thinking: what will happen after the credit expires? Will the housing market just dry up? Next month, I would assume that the volume of mortgage loan applications will spike due to a rash of first-time homebuyers getting their houses under contract [...]
There are many agents who believe the broker’s price opinion (BPO) is a form of art. Others believe it’s more of a science. Still others use a “blend” of the two methods and come up with their value by combining both methods. Today, we’ll take a look at the debate: BPOs – Art of Science? [...]
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