REO's the "GO TO" choice in this market.

If you're looking anywhere outside the perimeter of Atlanta then it's likely that you have shown a foreclosure or short sale. To be more specific you have showed an REO or POTENTIAL short sale. REO's are quickly becoming the "GO TO" choice in this market. With agents being somewhat unreliable and bank's short sale systems being even more unreliable and unpredictable, suddenly the topsy turvy world of REO becomes somewhat of a welcome comfort.Multiple Offers? Great! At least I know the bank will sign ONE!Moved Closing Date? So what, it's only a title defect and not a foreclosure date!Seller Is Irritated vs Seller Is Destroying the homeSeller to Choose The Attorney vs Attorney doesn't know that this file has a negotiator!Key under the electrical box vs Property Preservation Changed the Locks and didn't tell the agent.Yep, REO's are as easy to pie when you think about the Short Sale world.
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  • I agree 100%. Working the West/Northwest side of Atlanta (Paulding, Douglas, West Cobb), it's hard to find a listing that's not an REO or Short Sale that's priced right for this market. And we are running out of REO inventory quickly. I'm down to 3 and just got on offer on one of those.

    As for a short sale listings to show buyers, if it hasn't already been approved by the lender for a sales price I try my best to stay away from it. And then warn my buyers what they may be in for. Most buyers do not want to wait the months it takes to get a deal closed in most cases.
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