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I am seeing the same thing. I do a lot of commercial bpos and this is the first time in 4 years that I have got 2 this month and then nothing on all of the AMCs I am currently working with. I called all the AMCs to see if I was still active and they said things are slowing down too.
This is what I am doing now. I got a list of the registered AMCs (149) in my state and I have started a effort to find AMCs who look good to work for despite the main ones. Also, defaults are rising pretty good so I think we may be at the inflection point, at least in my state, for another recession. I drive and door knock about 25 a week and make appointments for short sales.
It really drags though because I use the BPO income for recurring expenses.
yes he should. I would really like to know it going on. I am getting enough inspections and BPOs to survive but my REOS are in the toilet. Most of them way overpriced and I have not heard from some of my regular clients in months. I am considering doing more fair market and short sales, which I do anyway and I have my own brokerage so its not like I can't move on, however this has been my bread and butter for years and it is starting to become very costly for me. I am not selling these properties in a timely manner and I am wasting gas money and time inspecting them. I am also waiting much longer to get reimbursed for preservation and utilities.
agentsonline.net is also a good place to go for info
I am noticing a big slow down in general with REOS and also BPOs. I am really getting worried about REOS. No one seems to know why. Anyone have any input?
This place will wake up in about 2-4 years. Prices will demand a correction, and the corresponding flow of defaults. I doubt it will be anything like the last turndown.