Janet Fetterman

When all the gloom and doomers are out there...the quiet investors are finding the deals and believe me, there are plenty on the market....they are buying them up...some are making repairs and flipping them...yes, you read this correctly, turning them for a profit, $20k, $30k for a short term of ownership even in this market!

I see fear paralyze more investors and wanna be investors than anything else. This past Saturday I gave a Foreclosure Shortsale Clinic and the room was filled with some new folks who are looking to invest. When I was extolling the virtues of short sales vs REO for the investor client with regards to having more room in the deal for the investor, some folks understood the concept while others wanted me to rewrite how the system works (as if I have the power) so that they could have the benefit of the REO infrastructure in negotiations and the "room to negotiate" as in shortsales.

All I can do is pass on the truth and tell it like it is....short sales take time to work, but that is were the best deals will be found. The truth is you need to have not one but a couple of exit strategies today or you probably shouldn't be in the game.

Janet Fetterman, Broker Associage/Owner

Concord Real Estate

386-299-6393

www.MidFloridaForeclosure.com

With all the misinformation out in the market place regarding buying bank owned properties and, would you believe it, Real Estate Agents actually telling customers to stay away from foreclosure properties, I not only have had to resort to blogging, but now I'm starting clinics as well!

February 14th at Concord Real Estate I am hosting 2 sessions, one starting at 2 pm and one at 5 pm to cover the topics explaining the differences between a shortsale and an REO property. How the banks arrive at pricing a property and what are they thinking when they make some of these counters! I'll cover how you can best be sure that your offers are actually presented to the seller whether you are a cobroke agent or a consumer, because unfortunately, there is some not so ethical stuff going on out there and I'm going to show class attendees how to protect against these unethical practices.

We'll discuss winning strategies and what our team has seen work and what doesn't work and we'll answer your questions about how to get the most bank for your buck when buying REO or a shortsale!

Seating is limited so reservations are needed, call 386-402-4610 to reserve your seat today.

Janet Fetterman, Concord Real Estate Broker Associate/Owner

www.MidFloridaForeclosure.com

http://www.linkedin.com/in/janetfetterman

When submitting your offers to an REO agent, put in your contract that you are to receive copies of the negotiation worksheet. This will insure that your buyer has proof that their offer was submitted and what date and time that offer was submitted. If they bulk on this, go to their broker as you would be given the right to present your offer face to face on behalf of your buyer, you have a right to prove that their contract has been presented to the seller and negotiated. The banks have no problem rejecting contracts in writing to provide proof.

Note: in my 10+ years experience as an REO Veteran, when there are multiple contracts, the 3 dozen clients I've worked with have always, ALWAYS, stopped negotiations and asked for a highest and best from ALL parties and resumed negotiations with whom they deemed the highest and best at that point. The REO agent is the gate keeper. If you are not given the opportunity for a highest and best, and there were multiple contracts, that means the REO agent was, in my opinion, taking the easy lazy way out and not representing his/her client's best interests to go after a highest and best offer.

Wishing you sunshine,

http://www.linkedin.com/in/janetfetterman

Janet Fetterman Broker Associate/Owner