Blog Archives

REOs Highest in Florida – Again

RealtyTrac’s report on the foreclosure market for the month of October is out, and the stats are in: Maryland has beat us out here in Florida for the nation’s highest foreclosure rate out of all states — but just barely.

Posted in REO

Cutting Costs: Where NOT to Cut

Freddie Mac has been cracking down on repair bids lately, in an attempt to cut costs. Most recently, we were informed that any REO repair bids totaling over $10,000 would require a second bid to be obtained — essentially, a

Posted in Uncategorized

Take It From Us: Paint That Garage Floor!

As contractors, when we submit a bid for repairs on an REO property, we’re not just looking at carpentry, plumbing, and electrical fixes. We’re also looking at what improvements might be necessary to get a property sold, and as an

Posted in REO

REO High Percentage of Cash Sales

According to a recent post by CoreLogic, REO sales accounted for over half of cash property sales in the United States in July 2014. Among cash sales, REO far outstrips resales, new construction, and short sales by a wide margin.

Posted in REO

Smokers and Odors and Pet Damage, Oh My!

One of the things you’ll probably see a lot of in the REO industy is homes with odor problems. When a home has been foreclosed after many years of a smoker living there, or someone with pets (especially indoor pets),

Posted in REO

Agent Survey

At Phillips Contracting, Inc., we take our clients and their needs very seriously. It’s important to us to earn your trust and confidence. That’s why we’re asking you to take a couple of minutes to complete this brief survey to

Posted in REO

The PCI Process

Have you ever wondered exactly how an REO repair contractor gets the job done? Wonder no more, because we’re happy to share the PCI process with you, step-by-step. We first receive notification that PCI has been selected to bid on

Posted in REO

Invest in a Pressure Wash

When you’ve got a property ready to show a potential buyer, what’s the first thing they’ll see? The exterior! And everyone knows first impressions are the most important, so you’ll want to make sure these people see a clean house.

Posted in REO

REO Properties Falling Year-Over-Year

The number of foreclosed residential properties in August went down for the 21st consecutive month (on a year-over-year basis), according the U.S. Foreclosure Market Report released by RealtyTrac for August 2014. REO represents the last stage of the foreclosure process,

Posted in REO

Keeping Trees Under Control

Trees can be a mixed blessing when they’re present on a residential property. They provide natural beauty and shade, and a well-maintained tree can be an asset to the property value. But trees can pose hidden (and not-so-hidden) dangers as

Posted in REO


Great job on the updates and communication – you guys literally the only SAM vendors keeping up and on top of the details like this.