Why foreclosures are not marketed hard in some areas?

Let’s take the situation where you are looking at a REO for which they want 25k and they have just come down from 29k. Apparently, the bank did not really look at it because it isn’t worth that. To rehab it the house would have to be gutted; the only good part of the house is the structure. You don’t want to rehab it yourself but you would like to flip it if you could get it for a really low price.

If this doesn’t work, you are not interested. But you don’t want to let this property go just yet as it is listed by a realtor who doesn’t even have a sign in the yard. No one knows this house is even available. Also, the house should sell for anywhere from 45 to 106k after rehab.

So why indeed there is no sign in the yard? It could be one of two reasons. One reason could be is the realtor is lazy.

Reason two. If a realtor knows what he is doing, it means he has investors or friends he is trying to hold the house for. Then they may hope no one notices the property and they will get to sell it to their buyer who buys all the time from them and closes all the time. They may know it needs to get to a certain price range in order for their buyer to pick it up.

Anyway, this kind of thing happens all the time; and quite frankly that is just business and building relationships. You want to be that person eventually. This kind of relationships helps to get successful in real estate business. They are not hard to build over time but they do take a little skill.