Attachment
Orlando – Buying Florida LLC an Orlando based company that specializes in procuring Bank owned properties for its clients has seized the opportunity to sponsor the second Orlando Foreclosures Expo. This is an incredible opportunity to get our business in front of people and the media says’ Dave Briley, CEO of Buying Florida LLC. Our main business in Bulk REO purchases from banks for our Investor clients but we also have customers just looking for a great deal on one property. This Expo gives us the opportunity to network with other people in our industry and present our product to an audience that we would not normally get in front of.
Angela and Frank Schifano were excited about their presence at the inaugural Orlando Foreclosures Expo because it gave them the chance to showcase the new business, the Orlando Foreclosure Trolley, a rolling classroom that takes real estate investors on a tour of bank-owned properties in central Florida. The Schifanos sold several tickets to upcoming trolley tours, but the husband-and-
“We were confident that the Expo would be an ideal forum for creating awareness about the trolley, but we didn’t expect to sell so many homes,” Angela Schifano said. “We are a prime example of why an event like this is needed. There is no other way for so many buyers and sellers of bank-owned properties to gather at the same place at the same time.”
Many other exhibitors at the Expo echoed Schifano’s sentiments. Phil Peachey, who is founder and organizer of the event, received such a tremendous response that he has already set the dates for the second Orlando Foreclosures Expo. It will be held sometime in late 2009 venue yet to be determined. The inaugural Expo was held at the International Plaza Resort & Spa, but Peachey says the second event will be much larger and will require more space.
Homeowners facing foreclosure, renters looking to buy a home and first-time investors and seasoned investors searching for deals were among those who converged on the Orlando Foreclosures Expo (www.foreclosuresexpo.com)
“A lot of people didn’t grasp what we were trying to achieve until they actually experienced the Expo,” Peachey added. “Now that exhibitors understand how many people they can reach under one roof, they are excited about the next event.”
There is no end in sight to the foreclosures crisis, and the volume of bank-owned properties continues to escalate. Economic experts agree that the real estate market will not rebound until the inventory of available properties decreases. Peachey created the Orlando Foreclosures Expo to help people facing foreclosure learn about their options and to link buyers and sellers of foreclosed properties. Most people, even real estate professionals, do not have access to foreclosure listings or to the people who regularly buy and sell them, Peachey says. The Expo was a success – and there is so much interest for more events – because it breaks down barriers, Peachey believes. Exhibitors agree, and many of them found the Expo as a perfect venue for education.
“There is a thirst for information from first-time homebuyers and investors. They want to understand the real estate market and they value the information they need to make a smart decision,” said Mary Abrams, who is a sales executive with Stirling Sotheby’s International Realty in Orlando and a certified short sale specialist and foreclosures expert. “Real estate is still a sound investment. Like any investment, it is important to understand how to proceed. This is why the Expo was such a valuable forum because it features resources and expert guidance for buyers, sellers and homeowners.”
Tobi Moyle, who is a regional vice president of the mortgage division for Wachovia, said that there was a mix of individuals who visited the bank’s booth, from renters and first-time homebuyers wanting to get pre-qualified for mortgages to homebuyers and investors searching for bank-owned homes.
“I receive multiple calls every day from clients interested in buying foreclosures. Real estate agents and independent buyers want information about bank-owned homes,” Moyle said. “The expo was a great place to reach these people. It was a one-stop shop for consumers and industry professionals that resulted in connections that will lead to future business.”
In addition to helping people facing foreclosure, the Orlando Foreclosures Expo was a forum for real estate industry companies that deal with foreclosures to educate visitors and fellow exhibitors about what they do. Southeast Professional Title, which is based in Winter Park, received an abundance of inquiries about land trusts. The company was also able to inform visitors about its menu of services.
“For us, the expo was a place where we were able to give numerous initial consultations,”
A majority of the expo attendees who talked to Christina Rordam were homeowners looking to avoid foreclosure and investors inquiring about purchasing distressed properties.
“Many of the homeowners who were facing foreclosure wanted information on making a short sale,” said Rordam, who is a Realtor with Exit Realty Central, the agency that staffed the foreclosures help desk at the expo. “People are facing a difficult situation, and they want to talk to professionals who can give them sound advice.”
Chuck Mahoney understands the foreclosures crisis first-hand. When he founded the National Opportunities for Affordable Housing Foundation (N.O.A.H.) in 2001, it focused on helping home buyers find down payment assistance programs. That is still an integral part of the organization’
“At the expo, we talked to a lot of homeowners who have lost their jobs and want to get out of their home before foreclosure,”
“We help homeowners short sale their home so they can retain their credit and are able to reenter the real estate market. They bought their home in a seller’s market, and now they are trying to sell it in a buyer’s market,” he added. “In a short sale, we negotiate with the lender and the homeowner is able to get out of their situation. The foundation buys the home and then sells it, in most cases to a first-time homebuyer, helping them with down payment assistance. We help one person avoid foreclosure and help another homeowner buy a property.”
That reflects the theme of the Orlando Foreclosures Expo, Peachey says. Peachey plans to organize similar events across Florida in areas like Tampa/St. Petersburg, Miami, Jacksonville and Tallahassee.
“The response we received from consumers and real estate industry professionals indicates there is a continued need for an event like this,” Peachey said. “It benefits every professional associated with the foreclosure industry, and it helps those people who are trying to avoid foreclosure. That is our ultimate objective.”
www.foreclosuresexpo.com
Photo:
http://www.prlog.org/
