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One order all month so far an REO. Looking at the collapse of Indymac and the banking industry problems I think it will be slow for a while. 70% of pending sales are no closing and local banks need to boost capital. Local lenders telling me they are closing loans only to those with perfect credit. Very few of those folks in south Georgia.
Have one order so far, MB...says he's in a hurry. I have been finished for 2 days, so to speak and have been waiting on him to send the contract. Nothing....not a good sign.
Keeping my head above water over here... lots of crazy work popping up... so far this month: 5 refis, 3 REOs, 2 property tax appeals, 1 private appraisal, 1 purchase... not bad... but not great.
I don't know who gets all of the purchase appraisals in my coverage areas... but it surely hasn't been me!
Slowed down, but stable... still enough to keep 3 CG's doing all kinds of crazy work.
Some houses are selling, my real estate phone line is ringing ever now and then. But it's all for my lower priced $100,000 range flipper and rental homes.
July has started off okay - we were on vacation from the 3rd-7th, but I had my laptop and office phone call forwarded to my cell phone so no one really knew we were away - Considering we started with a holiday weekend which meant the day before the holiday would be slow, then no work on Friday and Monday things didn't start happening until later in the afternoon, I think we'll do all right in July - getting an average of 2-3 orders a day so far this month. It's so dang hot here (109 today) that I would rather be in the office anyhow - doing our site visits as early in the day as possible - did one this morning at 7 a.m.!
Hope everyone has a better July then June - we're doing mostly REO's with a few sales mixed in - the nice thing about REO's is you don't have to make appointments and you can do them whenever you want.
Hang in there - this market will eventually turn around!