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Nextage Realty Professionals

Foreclosures hit 1,000,000 so far this year, loan mods wane

By Jerry Cecil, on June 14th, 2009

Several newspapers thought that a decline in May foreclosures from April’s record high was good news, but a decline off a record is not necessarily healthy.  Here’s an article from the WSJ that I thought was a little more appropriate.  

Here’s a bleak milestone: there’s been more the 1 million foreclosures filed in the U.S. so far [...]

Posted by Jerry Cecil June 14, 2009, 8:49 am

Prescott Arizona area foreclosure market report as of 3-21-09

By Jerry Cecil, on March 21st, 2009

Prescott Area Market Report

Is the market ready to turn around?  If history repeats itself, all that has to happen is that Californians are able to sell their homes again so they can move here.  If the numbers in CA recently hold, then we might have seen the bottom. 

See Great news for Arizona! So Cal prices [...]

Posted by Jerry Cecil March 21, 2009, 7:31 am

Press Release: www.PrescottREOS.com launched

By Jerry Cecil, on February 23rd, 2009

Today we launched a new site, www.PrescottREOS.com, to focus on the needs of REO Asset Managers and BPO Service Managers looking for REO partners in the Quad-Cities area of Northern Arizona.

Screenshot of www.PrescottREOS.com…Click to Visit Site

Once fully developed, the site will include a portal to our SureClose listings management system that will allow asset managers to [...]

Posted by Jerry Cecil February 23, 2009, 7:38 am

Why are REO homes priced all over the place?

By Jerry Cecil, on January 27th, 2009

FSBB – For Sale By Bank

Are banks and loan servicing companies able to accurately price distressed properties and REOs?

Some do a good job, but more often than not they rely on national indexes, rather than use local assets in the field such as qualified Certified Foreclosure Specialists who know their cities neighborhood by neighborhood.  And [...]

Posted by Jerry Cecil January 27, 2009, 7:32 am

Top 10 tips to win the REO multiple offer game

By Jerry Cecil, on January 26th, 2009

Prescott Foreclosure Home

The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price.
  
When banks price REOs under the market price, multiple offers are often the response.  This means buyers can  be up against stiff competition for that bank-owned home.  

It’s not unusual [...]

Posted by Jerry Cecil January 26, 2009, 2:25 pm