CVMM 8/5/09
There were 55 agents and affiliates in attendance at the August 5th, 2009 Central Valley Marketing Meeting for Real Estate. The meeting was hosted by Jeffery Stanton who spoke about his company's Certified Negotiation courses.
Guest speaker, Nick Cameron of Modesto's Keller Williams Realty, gave us an update on the REO market including what agents can expect in the near future. According to Cameron, Bank of America and GMAC are taking half of their Asset Managers and repositioning them as Short Sale Managers with the expectation of increased release of Short Sales. There is also an expectation of improvements in the process of Short Sale transactions. Also according to Cameron, there are going to be Hedge Funds purchasing large blocks of property that are in the beginning stages of the foreclosure process, trying to negotiate with the current owners at a much lower price. Nick is a wealth of information on the topic.
Please join us for next week's meeting for a market update from Jeff Lundquist, Prudential California Realty.
Content provided by Jeannie MacDonald, PMZ Real Estate, Modesto.