Archive for May, 2013

Don Erler, CAI, AARE, Senior Advisor and Real Estate Auctioneer, Sperry Van Ness/Ward Commercial Group

May 23rd, 2013 by engineadmin

Spotlight on . . .Don Erler

We recently spoke with Don Erler of Sperry Van Ness/Ward Commercial Group. Don belongs to the Sperry Van Ness National Accelerated Marketing Team and is Secretary to the Board of the Asset Recovery Team  (SVN-ART.). With clients that include financial institutions, state and federal courts, consultants and private investors, Don’s diverse experience in the real estate auction market has made him an authority on surplus dispositions, liquidations, foreclosures and other accelerated marketing endeavors. Our discussion includes topics on the current economy, online and social media marketing, and what lies ahead for the summer market.

PA: Tell us about Sperry Van Ness and your role with the company.
DE: I have been in the real estate auction profession for more than 26 years, joining Sperry Van Ness (SVN) when our agency, Ward Commercial Group, joined SVN 2004. Since joining SVN, I have continued to work for Sperry Van Ness Ward Commercial Group as an active real estate auctioneer in our region (primarily in the Midwest) serving my clients that include banks, the courts, developers and private individuals. I work with the Sperry Van Ness national auction footprint, SVN Auction Services, coordinating efforts nationwide with other real estate auctioneers in the Sperry Van Ness system and participating in the national and international auction events sponsored through AuctionPoint. SVN continues to expand its auction marketing coverage with the rollout of SVN Auction Services in many of the 180 markets now served by Sperry Van Ness commercial brokerage offices, an activity in which I am an active participant.

PA: How would you say the economy over the past 5 years has affected your business?
DE:
For real estate auctioneers with solid past relationships with banks and other institutional sellers, Read the rest of this entry »

Buying a Foreclosed Home Doesn’t Have to Be Scary

May 6th, 2013 by Hudson & Marshall

While foreclosures vary in regulations and procedures compared to privately-owned homes, buying one doesn’t have to be as scary as a trip to a haunted house. There are many advantages to buying a foreclosed home, and knowing the process is key.

The Process

A foreclosure is the process of taking possession of a mortgage property because of someone’s failure to keep up with mortgage payments. This is termed as “defaulting” on a mortgage. It can be a lengthy process and specifics vary from state to state. If the default is not resolved by the allotted deadline, the lender then sets a date for the home to be sold at a foreclosure auction. At this auction, the home is sold to the highest bidder for cash payment. If a third party does not purchase the property at the foreclosure auction, the lender takes ownership of the property, and it becomes a bank-owned or real estate-owned (REO) property. Read the rest of this entry »

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