Let truth be told.

I’m new to blogging. Over the last few months I’ve been doing some studying and reading on how to blog. There is a ton of information out there about blogging. What to do. What not to do. How to write contents. And how to post them. You can say, I have become a victim of information overload. I was grip by fear. I was confused. I was printing reports and articles from other bloggers. I was taking notes of their tips and startegies. I felt like I was running around in circles…..unable to wrap my brain around blogging…or simply getting down to the business of writing an article or creating a content.

Then one day, I read something that went something like: At some point you have to stop being a consumer of content and you have to become a creator of content. I thought that was a profound message. A great lesson. Then another day I read another qoute that said, “Your life is going to be defined by the uncomfortable decisions you’re going to make.” Right there and then I took the leap of faith to just do it….believing in myself. And most important, believing that I can bring values to the lives of other people. And to not do that would be a waste of time and a dis-service to others.

At the core is doing the right actions. Doing things which help others and which does the greatest good for the great number. It means doing ethical actions. It means being forthright and dependable; accountable for your actions. It means working toward accomplishing positive goals. This, in turn, brings on an expectation of positive outcomes, like developing meaningful, lasting relationship with others.

With that said. Let’s rock and roll. And enjoy the ride with me.

Basic Market Statistics – REOs
Use this sheet to see basic statistics on the market as a whole.

(64) List Price ADOM Selling Price BR BA Year Built SqFt Lot SqFt
Min 190,000 1 178,000 3 1.00 1925 911
Max 432,878 232 450,000 3 3.00 2003 2,436 8,300
Avg 260,561 36 272,809 3 1.48 1957 1,208 5,063
Sum 16,675,928 17,459,800
Basic Market Statistics – Regular Sales
Use this sheet to see basic statistics on the market as a whole.

(24) List Price A- DOM- Selling Price- BR- BA Year Built- SqFt- Lot SqFt
Min 235,000 -2 -245,000- 3- 1.00 1939- 889- 4,600
Max 386,900- 2-79- 382,000- 3- 2.00- 1980 1,800- 8,512
Avg 325,012- 44- 324,542- 3- 1.50- 1957- 1,249- 5,630
Sum 7,800,299 7,789,000
==================
March 16, 2010

Hi Paul. The other day, you raised a very interesting point; make that a very
good question. You asked, Why are we looking at regular sale now?

I’ve always been working on the premise that REOs are better buys than regular
sales. I still believe that. And that is based on my knowledge of the market and on
my experience. One other reasons why we deferred looking at regular sales is
because sellers have been known to overpriced their homes, making them less
attractive, compare to other properties.

There is, however, an exception, just like most things in life. Regular sales
could provide as a good a benefit, pricewise, like REOs, as long as we know
what we’re dealing with. And that includes: price, location, features,
amenities, equity build-up and so on. And as long as the regular sale home
has all of these qualities, we cannot exclude them from our ‘shopping list.”

But let me go back to why REOs are the better buys. I have attached a report
that shows the difference in price between REO and REgular sales. Here are some
observations/conclusions one can make looking at the numbers:
Oh, the way the numbers are from Jul 2009 to Feb 2010.

1) There is a price differential of $52,000 (REOs being lower) or roughly 15%
2) More REOs sold than regular sales (64 vs. 24)
3) REOs sold faster than RS (36 vs. 44)
4) Also interesting to note: REOs sold more than asking/listing price, $12,000

Finally, it is not surprising to see REOs are selling faster and for more because banks
want to dispose of them quickly. A home that is sitting idle is a risk and liability.
And it’s costing banks money. Buyers are buying REOs because they are perceived to be of good value, especially to investors and first time buyers.

That said, we will continue to go after:
First, REOs
Second, Regular sales
Third: Short Sales (the ones that have been approved)

Hope the above shed light into your home buying decision.

Talk soon,

Dom