Is the Hurricane Season over for Las Vegas Foreclosures? No Way!
It seems that no matter how may home and condo repos we move off the market in Vegas, the listings just keep coming! CLICK TO READ THE LATEST LAS VEGAS FORECLOSURE NEWS
And the level of frustration for agents in getting any response at all from the "REO SPECIALISTS" is rising with the tide. HOUSING TSUNAMI? Feels like it! Nobody seems to be able to keep their heads above water.
*****Attention all REO ASSET MANAGERS*****
I encourage you to ask your selected REO AGENT, " How many units are you currently handling?" I cannot understand how any one person can deal with 600+ properties and service his client properly. How many offers do I need to write to find one agent who can give me a timely response? And then - ask the same to the escrow officers you choose. There is one company I am presently dealing with, LANDAM/LAWYERS TITLE that simply does not have any phone lines available. And in boxes are full. Therefore No Response. No HOA demands ordered. NO Payoff ordered. NADA!
HOW MANY DEALS ARE SLIPPING thru the cracks because of lack of manpower? With foreclosure numbers growing, the volume in Vegas is tremendous.
Timely Closes? No Way. The banks and asset managers are slammed and pay no attention to the COE dates. Nor do the escrow officers. On the last deal in which I represented the buyer, all cash, just sitting in escrow, the escrow manager was happy to tell me she received the deed back from the asset manager, and we coulr record. How exciting! No way. No one checked to see that the deed was even signed. Sounds like HOME SELLING 101 - You need to sign the deed if you are a seller before title can transfer. DUH!
One light in the tunnel, has been Fannie Mae REO AGENT, and AR Member, Sue Nelson. We just brought the buyer to one of Sue's SKY LAS VEGAS condo repos and she has been accessible, professional, timely and very tech savvy. A pleasure!
LAS VEGAS FORECLOSURE BUYERS>>>>
Contact THE STARK TEAM for your Las Vegas Luxury Foreclosure Needs
702 376-5220
www.Las-Vegas-Foreclosures.info
I'm now counting my blessings that we don't have that type of market in Modoc County. ~ Evelyn
thank you june for a professionally written article - awesome...took my exact feelings and put them to the web
Well said June! It's amazing how long it takes to get answers from some of these agents because they have hundreds of REO listings. It's very unfortunate that many REO Agents in Las Vegas aren't handling their business very professionally and that includes a few select title companies!
I have to say, I asked Sue Nelson a question via email for another one of her REO properties and her response was ULTRA QUICK although I couldn't get my clients to move on the prop :(
COmpanies are maxing agents out at 20-30 listings but when you are receiving listings from multiple banks those sure can multiply quickly and grow legs. Many of the biggies want REO experience but I don't think that's working out so well for them.
We will all be inundated soon!
OooOoo I want to add, they need to start sharing the love between title companies and agents too. It's always a pleasure to do business with a starving title agent giving you the best service because agent x down the hall has all the reo biz.
Thanks for your comments all. Much appreciated. Nice to know others are experiencing the same levels of frustration gettin our deals thru!