Interesting information from Chase re REO listings, aka foreclosed homes in Arizona. The rep speaking just now is a former NFL player, Kevin Watters, who is now the Vice President National Retail Lending Manager for JP Morgan Chase. Chase is expecting 93% of list price for their REO's. They also want to turn 35% of their portfolio each month. Why am I reporting on this topic? Because foreclosures make great green properties! REO's have been stripped of entire kitchens, appliances are missing, and they need flooring, Given those missing details, they can easily be remodeled and upgraded using am Energy Efficient Mortgage or 203K loan. Features can be added to foreclosures and the buyer who qualifies for an FHA mortgage can use this program.
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Got Green?
Being an EcoBroker, or Green Realtor is challenging and rewarding. The challenge is in the current the economy, but the reward is helping someone buy the home of a lifetime! My focus is providing the best service, constant communication, and building a solid relationship with my clients. Oftentimes my clients become friends as we forge ahead with their real estate purchase and/or sale.
At every opportunity during a real estate transaction, and with everyone I meet, I continually pose a green idea for homeowners, ie it would be wise to have an Energy Audit performed during the inspection period as well as a home inspection, termite inspection, HVAC inspection, and an Environmental Report. How about wrapping those energy improvement features into a green mortgage? How about a solar pool system? Is indoor air quality an issue? Pest control poisoning? Not every real estate professional recognizes these areas of concern!
