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e Federation of Certified REO Experts (FORCE) met
September 19 at the annual FORCE Rally at the 2017 Five Star
Conference and Expo. Bob Norrell, CEO of Dakota Asset Services,
gave the state of the industry, which according to him, is headed for
an adjustment.
Home prices are at an all time high, many are not able to afford
their homes, interest rates are at an extreme low, and though he hopes
it won't be anytime soon, Norrell believes actions need to be made to
get markets back in line—a sentiment Five Star President and CEO
Ed Delgado agreed with.
According to Delgado, "e market is about to change and we
need to be ready," said Delgado. "REO is going to increase in 2018
as we see more fractures in the market—how much is determined by
location and how big the fall off in price points will be."
Another topic discussed was that of millennials in the housing
market, or lack thereof. According to Nancy Braun, one of the biggest
issues millennials face is not having money saved for a down payment.
Agents and brokers have to be creative on how to help millennials save
or get support for their down payment—especially with an impending
bubble causing homes prices to rise.
"I just heard of a really interesting program in Seattle where a
company is going to pay millennials down payment," Braun said. "In
exchange, the new owner of the property will participate in Airbnb
and split the profit with the company. Obviously people are getting
creative as far as giving them options."
1. FORCE members gearing up for the annual FORCE Rally 2. Eddie San
Roman, President of Assero24, gives an update on his company 3. Panelists
line up to answer questions from FORCE Executive Director Annie Collier
4. Nancy Braun, Broker and Owner of Showcase Realty, gives the FORCE
Advisory Council Chairman Address 5. FORCE Executive Director Annie Collier
gives welcoming remarks at the annual FORCE Rally 6. FORCE members
network at the FORCE Rally Power Hour 7. The Advisory Council Panel answers
questions on business management
FORCE RALLY
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