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Rainmaker
1,707,347
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Foreclosures are at 4% of sales versus 50% of sales like in 2009

Nov 10, 2016 02:05 AM
Rainmaker
1,445,027
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

jamie Lytle More than likely fewer foreclosures. I hope you aren't relying on BPO's for your business.

Nov 10, 2016 05:17 AM
Rainmaker
1,361,958
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, not around the BPO world.  Definitely less foreclosures and shortsales though as the values of homes rise.

Nov 10, 2016 04:28 AM
Rainmaker
4,799,356
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Yes, because foreclosures have slowed.

Nov 10, 2016 03:32 AM
Rainmaker
519,701
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

BPOs for agents are becoming history. NAR is selling our sold data to asset managers and the banks through RPR. Why would they pay you a fair wage when they can pay someone overseas to do it for next to nothing.

Nov 10, 2016 03:30 AM
Rainmaker
6,370,238
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Fewer foreclosures.

Nov 10, 2016 08:46 PM
Ambassador
4,312,167
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

jamie Lytle - that is the indication of healthy economy and stable or strong real estate market.

Nov 10, 2016 03:43 PM
Ambassador
3,722,232
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Is it because there are fewer distressed sales?

Nov 10, 2016 12:40 PM
Ambassador
4,494,054
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Foreclosures are a much smaller % of overall sales/listings overall

Nov 10, 2016 12:23 PM
Ambassador
2,224,067
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Not all, but most, BPOs in my area are done on distressed properties. We are seeing fewer of them, so there are fewer BPOs. 

Nov 10, 2016 10:52 AM
Rainmaker
3,985,771
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

A lot less foreclosures

Nov 10, 2016 10:17 AM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Because the market improved, people are back to work, interest rates are low. There are many more investors bailing out distressed sellers.

Nov 10, 2016 07:57 AM
Rainer
352,776
Teri Pacitto
Compass - Westlake Village, CA
Real Estate, Your Style...Your Home...My Specialty

Short sales and REO's have diminished greatly and there is not a demand any more.  I never did them but did get SS, REO listings.  Glad they are a thing of the past.  

Nov 10, 2016 07:35 AM
Ambassador
2,546,249
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

   They are finally clearing out the REO inventory.

Nov 10, 2016 04:30 AM
Rainmaker
869,221
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Because distressed property transactions have - more equity sales.

Nov 10, 2016 04:01 AM
Rainmaker
806,827
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Fewer foreclosures?

Nov 10, 2016 03:01 AM
Rainmaker
2,611,096
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

It was the banks driving BPO's . Today, CMA should do the trick most cases

Nov 10, 2016 02:39 AM
Rainmaker
138,626
Kelly Turbeville
Keller Williams - Lake Forest, CA
Turning Real Estate Dreams into Reality

Defaults are less then 5% of our market. As well many homeowners who have decided to stay put  and sell have refinanced into the lower rates.

Nov 10, 2016 02:23 AM
Rainmaker
507,961
Jerry Murphy, CRS, SRES
Long Realty West Valley - Anthem, AZ
Anthem, Phoenix, and Scottsdale AZ Real Estate

I know in our area it's simply because foreclosures and short sales have fallen below even historical levels now.

Nov 10, 2016 01:23 AM
Ambassador
3,001,937
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Jamie, I suspect it is because foreclosures and short sales are way down. 

Nov 11, 2016 12:13 AM
Rainmaker
1,624,272
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We haven't done any BPOs for nearly 8 years. The clearing houses ruined the margins and our time and experience is worth so much more that they are willing to pay.

Nov 10, 2016 11:32 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Because there are far fewer foreclosures these days....

Nov 10, 2016 10:20 PM
Rainmaker
3,838,809
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

The cycle, less forclosures this year but wait, it will come back again.

Nov 10, 2016 10:18 PM
Rainmaker
4,022,717
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Foreclosures have slowed, thank goodness!

Nov 10, 2016 10:10 PM
Rainmaker
3,909,541
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Maybe because foreclosures are down?

Nov 10, 2016 08:47 PM
Rainmaker
3,874,815
Richard Weeks
Dallas, TX
REALTOR®, Broker

Depends on you definition of BPO.

Nov 10, 2016 07:33 PM
Ambassador
3,643,059
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have no idea...

Nov 10, 2016 03:47 PM
Rainmaker
4,135,669
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

BPO's are ancient History!

Nov 10, 2016 11:24 AM
Rainmaker
1,525,205
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

I have not been called to do one in years.

Nov 10, 2016 10:02 AM
Rainmaker
3,332,375
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

jamie Lytle I did BPO's in the past.

Nov 10, 2016 09:19 AM
Ambassador
5,216,949
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Because the folks who are willing to work for nothing either got smart or went out of business, and those who hire them are not willing to pay.

Nov 10, 2016 09:04 AM
Rainmaker
864,258
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Foreclosure/Shortsale are almost non-existent.

Nov 10, 2016 07:23 AM
Rainmaker
1,136,268
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I imagine it is Heloc and refin and is seasonal.  Should expect few wanting to refin unless one needs to take out their equity for Xmas.  As for REO local prices has been over historical peak about 3 years ago. It is about 50% higher than 2005(peak).

There is one REO within 50 miles radius in SF South Bay. Pending.

Nov 10, 2016 04:31 AM
Rainmaker
1,697,769
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Uhh, because foreclosures & short sales have dropped off by 50% or more in most areas?

Nov 10, 2016 02:49 AM
Rainmaker
5,570,665
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

I haven't done a BPO in decades....

Nov 10, 2016 02:38 AM
Rainmaker
1,510,363
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

There are very few of them, but be ready, they are coming. 

Nov 10, 2016 02:22 AM
Rainmaker
869,241
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

1. The local market has changed altering the need for BPO's

or

2. The BPO's are going to someone else or another organization.

Nov 10, 2016 01:31 AM
Rainmaker
3,959,144
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

An individual market and timing are the most likely reasons.  

Nov 10, 2016 01:29 AM