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found REO'S on Zillow, 2 of my realters cannot find

Posted on: Mon, 08/12/2013 - 21:54
found REO'S on Zillow, 2 of my realters cannot find

I'm in Brooklyn NY and I found 7 REO'S on Zillow, yet 2 of my realters cannot find the location of the seller or brokers that has them of any of them,how, why is that?

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Posted on: Mon, 08/12/2013 - 23:04 #1
Zillow is Outdated

Zillow is outdated and most likely the REO's are already off the market.

Hope that helps,

- Tom


Posted on: Tue, 08/13/2013 - 00:34 #2
I hope that's not the case if so where can I find updated REO's

Thanks Tom I hope that's not the case however thanks for responding ,but if your right,do you know of a place I can find updated REO's


Posted on: Tue, 08/13/2013 - 03:07 #3
REO's

Just put in the subject property address into Google. You should come up with some MLS#. Perhaps at Realty.com? Find someone who has PropertyRadar.com.

Another thought is that it is bank owned but they DON'T have it listed and it is part of the 'Shadow Inventory'. I find homes like that all the time when I drive for dollars. I think they bundle a bunch of them and sell them to hedge funds or large investment groups.

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Posted on: Tue, 08/13/2013 - 03:52 #4
Bank Sites

Some banks market their own properties.

Check the tax records and see who owns the property. If it has a bank name go to their websites and see if they have it for sale there.

Otherwise for REO property lists your Realtor should be able to supply you with everything listed on the MLS. Just ask and let them know your criteria.

I hope that helps.

Also there are investors who buy in bulk directly from the lenders. Could also be part of some kind of package. See who owns them then go from there.

with gratitude,

Makeba

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Posted on: Thu, 08/15/2013 - 00:05 #5
Thanks That is a very good posibility

Thanks Makeba That is a very good possibility. and that's good advice I'll try it out Thanks


Posted on: Thu, 08/15/2013 - 00:19 #6
Thank you this will been verry helpful

Thank you Makeba this will be very helpful. Do you know if there is someone on this site the deals with REO'S in Brooklyn ny


Posted on: Thu, 08/15/2013 - 18:37 #7
Beware of Zillow and Trulia

Both Zillow and Trulia have a strong reputation of being out of date - by months! They get their information from tracking sources and by the time they hit the site they are often sold and then it can take months to get the sale data and update the site.

Your best bet is your local MLS site which is updated daily by the real estate agents themselves. Realtor.com farms these MLS sites and is a little more up to date than Zillow and Trulia.

Another source of listings can be craig's list and other databases which have membership since the price of the membership is what pays to keep the database updated.