ORLANDO, Fla. — The Orlando Foreclosures Expo is an innovative event. For the first time, a diverse group of individuals and companies that work with foreclosures and short sales will gather under one roof to network and educate. Homeowners who are facing foreclosure can speak to investors interested in buying properties, and professionals who can provide them with options to avoid foreclosure. First-time investors and seasoned investors can meet real estate wholesalers, brokers and agents who have a multitude of bank-owned properties at below-market rates.
The Expo (www.foreclosuresexpo.com) – which will take place at the International Plaza Resort & Spa on February 7-8, 2009 – is attracting a wide range of sponsors and exhibitors, including Wachovia, Orlando Sentinel, Southeast Professional Title, Moneycorp Inc., Bankers REO, Coast to Coast Investments, Real Living Real Estate Solutions, Aston Martin and Luxautica.
“When I created the Expo, I had a strong feeling that there was a need for an event like this,” said Phil Peachey, the event’s founder and organizer, and an Orlando area REALTOR(R). “It is encouraging to see that so many companies see the viability of the Expo, too.”
The foreclosure crisis continues to affect everyone from homeowners and mortgage brokers to real estate agents and communities, especially in Central Florida. Financial experts agree that the real estate market – and the economy as a whole – will not improve until the inventory of available homes shrinks. The Expo will serve as a forum where everyone from real estate agents and brokers, real estate attorneys and REO department representatives from banks to lenders, investors, wholesalers, builders and others in the foreclosure industry can gather under one roof to exchange ideas, offer guidance and conduct business.
A free and clear home will be given away by REO Resolution Trust, LLC, which owns and operates BankerREOs.com, buys bank-owned properties and sells them to investment groups and individual investors.
“It is unheard of to have a venue where you can talk to so many people in the industry at the same time,” said Greg Schmid, who is head of sales and acquisitions.
First Alliance Capital, LLC, a property wholesaler based in Orlando that will have a booth at the Expo. “This will be the ultimate networking event for anyone involved with foreclosures and short sales.
“Typically, we deal with seasoned investors, but we would like to work with first-time investors because there is a lot of inventory but not enough buyers,” Schmid added. “This is an ideal time if you are looking to buy your first investment property. Just as it is best to get involved in the stock market when prices are low, it makes sense to invest in real estate when you can purchase a property in the current market.”
The Expo will also allow homeowners in danger of foreclosure to list their properties and the minimum price they need. There will also be a help desk where people facing foreclosure can talk to real estate professionals about their options.
For industry professionals, the event will provide an opportunity to discuss important issues.
“The economy, the market, regulations, loan processes – everything in the real estate industry seems to change daily. The Expo will serve as a place to troubleshoot, and to explore new ways to do business,” said Debbie Farnell, who is owner of Orlando-based Southeastern Professional Title, a sponsor and exhibitor. “It will help to have so many different types of people within the industry in the same place at the same time.”
The Orlando Foreclosures Expo will break down barriers for investors, real estate professionals and homeowners alike, Peachey explained.
“Most people, even real estate professionals, do not have access to foreclosure listings or to the people who regularly buy and sell them. Wholesalers typically offer their foreclosure properties to a very select few. Also, most REO (Real Estate Owned) departments of banks will not deal with the general public,” Peachey said. “The foreclosure industry has been more like a private club where the public cannot obtain a membership. This event will change that, allowing investors of all levels to access properties.
“For people facing foreclosure, the Expo will give them access to everything from lenders who can help them find solutions they might not have known existed to investors who are looking for properties,” Peachey added. “There will be more options for homeowners, and for real estate sales professionals that have a vast inventory of properties, to find a pool of qualified buyers at the Expo than relying on the MLS.”
Peachey is getting such an overwhelming response from sponsors, exhibitors and interested attendees that he plans to hold another Orlando Foreclosures Expo later in 2009. He also plans to organize similar events across Florida in areas like Tampa/St. Petersburg, Miami, Jacksonville and Tallahassee.
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Send2Press(R) is the originating wire service for this story, Copr. 2009.
[tags]Orlando Foreclosures Expo, Florida real estate owned[/tags]
