Jeff Louderback's Write Perceptions

Dates for second Orlando Foreclosures Expo are set

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-wife real estate agent team also wrote five contracts for foreclosure listings they featured at the event.

“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 on June 6-7 at a 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) on February 7-8. The Expo included people facing foreclosure talking to experts about their options, and buyers and sellers of bank-owned properties.

“Now that the first Expo is completed, exhibitors who were there are already booking booths for the next event,” Peachey said. “In addition, people who thought about exhibiting but didn’t because they were unsure of how successful the first Expo would be saw the response and are now interested.

“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 networking and business.

“The response we received from visitors to our booth far exceeded our expectations,” said Chris Christensen, who is a real estate agent at the Real Living Real Estate Solutions office in . His wife Julie Christensen is a real estate agent there, too. “We left the event with the names and phone numbers of over 70 people that are interested in buying foreclosed properties, and we are both booked for the next two weeks with appointments to show properties.”

Laura McLoughlin of Moneycorp Inc. is another sponsor and exhibitor who has reserved space for the second Expo in June.

“The event not only attracted a big number of attendees, but it also provided a great opportunity to network and make good connections in the industry,” McLoughlin said. “Anyone who wants to get into the foreclosures market or has a service to help clients looking for foreclosures will benefit from participating in the June event.”

First-time investors win home at Orlando Foreclosures Expo

Jason and Alicia Goldberg, a married couple who live in Oviedo, received a duplex from REO Resolution Trust, LLC

Jason and Alicia Goldberg were interested in buying their first investment property, so they attended the Orlando Foreclosures Expo last weekend. The married couple, who live in Oviedo, were like many of the expo attendees who talked to exhibitors about how to purchase bank-owned properties. The Goldbergs received an unexpected head start on their portfolio when they won a duplex which was given away by REO Resolution Trust, LLC, an Orlando company that owns and operates BankerREOs.com, buys bank-owned properties and sells them to investment groups and individual investors.

The duplex is located in Detroit and valued at $67,742. It includes four bedrooms, 2.5 bathrooms and 2,354 square feet of living space.

“We have bought many properties and it is our intention to give away one home per month,” said Will Bland, who is president of REO Resolution Trust. “The property that the Goldbergs received can generate $700 a month in rental income. After taxes and insurance, that is about $7,000 a year.”

The Goldbergs expected to leave the expo armed with information and knowledge about how to make their real estate investment dream a reality, but they never expected to depart with their first property, especially at no cost to them, other than the $10 entrance fee to the expo.

“Ironically, we were interested in buying a duplex as our first investment property,” Jason Goldberg said. “This is the first of what we hope will be several properties in our portfolio.”

The Orlando Foreclosures Expo brought together a diverse group of individuals and companies that work with foreclosures and short sales under one roof. First-time investors and seasoned investors were able to meet real estate wholesalers, brokers and agents who have a multitude of bank-owned properties at below-market rates. Homeowners facing foreclosure spoke to investors interested in buying properties, and professionals provided them with options if they want to sell their house, or remain in it and avoid foreclosure.

“It was exciting to see a young couple who wanted to get involved in real estate investing win the property,” said Phil Peachey, who is founder and organizer of the expo. The next Orlando Foreclosures Expo is slated for June 6-7 at the International Plaza.

“They now have a home that can generate $700 a month in rent. That is substantial, especially for a young couple.”

Orlando Foreclosures Expo receives an overwhelming positive response from homeowners and real estate industry professionals alike

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) last weekend. The inaugural event, which was held at the International Plaza Resort and Spa, drew such a positive response that founder and organizer Phil Peachey is already planning a larger event on June 6-7 at the same venue.

“A lot of people didn’t grasp what we were trying to achieve until they actually experienced the expo. Now that exhibitors understand how many people they can reach under one roof, they are excited about the next expo,” Peachey said. “Real estate industry professionals, people facing foreclosure and investors alike were at the event for different purposes, and they were all able to find answers from the broad range of exhibitors who are experts at what they do.”

Typically, people facing foreclosure often do not know all of their options. Many investors interested in buying bank-owned properties do not have access to foreclosure listings or to the people who regularly buy and sell them. The Orlando Foreclosures Expo served as a forum to break down those barriers.

“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,” said Deborah Farnell, who is president of Southeast Professional Title. “Many people don’t know the role of a title company. We were able to inform consumers and industry professionals of our services who were not previously aware of everything we can do for them.”

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’s mission, but now it is helping homeowners who are struggling either remain in their home or sell so they can preserve their credit and be in position to buy again in the short term.

“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,” Mahoney said. “Loan modifications aren’t always the answer. In many cases, the new payment is higher than the one the homeowner could no longer afford, and about 40 percent of loan modifications go back to foreclosure and short sale.

“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 second Orlando Foreclosures Expo, slated for June 6-7 at the International Plaza, will feature even more exhibitors and speakers.

“The response we received this weekend 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.”

Orlando Foreclosures Expo set for this weekend

The inaugural event will serve as a forum for real estate professionals, investors and people facing foreclosure.

The foreclosure crisis continues to affect everyone from homeowners and mortgage brokers to real estate agents and communities, especially in Central Florida. To serve as a forum for homeowners facing foreclosure and looking to sell their homes, and for real estate industry professionals who are involved in foreclosure-related transactions, the first-ever Orlando Foreclosures Expo (www.foreclosuresexpo.com) will be held on February 7-8, 2009.

Phil Peachey is the founder of the Expo. He started buying and selling foreclosed properties in 2006 and quickly found it challenging to locate available foreclosed homes that are not included in the MLS. This sparked the idea for an event that brings buyers and sellers in the foreclosure industry under one roof.

When the Orlando Foreclosures Expo takes place at the International Plaza Resort & Spa, it will bring 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 to the International Plaza Resort & Spa. The Expo will also allow homeowners in danger of foreclosure to list their properties and the minimum price they need. People facing foreclosure can talk to real estate professionals about their options, including the National Opportunities for Affordable Housing Foundation (N.O.A.H.).

“We have clients on both sides of foreclosure – individuals who are looking to buy foreclosed homes, and people who are facing foreclosure and looking to sell their homes,” said Chris Christensen, a real estate agent who operates a Real Living Real Estate Solutions office with his wife and fellow agent, Julie Christensen, in southwest Orlando. His company will be an exhibitor. “The Expo will be an ideal venue to find investors looking to buy properties and help clients who are facing foreclosure get out of their situation.”

On Saturday, February 7 from 8:30-9:30 a.m., there will be a VIP breakfast at the International Plaza exhibitor ballroom, where guests can get a preview of foreclosure listings prior to the general public.  The Expo will take place from 10 a.m. to 6 p.m. on Saturday and 10 a.m. to 5 p.m. on Sunday, February 8.

The inaugural event will feature workshops conducted by experts about how to invest in foreclosures, and how to avoid foreclosure and what to do if you are facing foreclosure. The networking among professionals in the industry can lead to immediate transactions and future business, Peachey says. Investors will be able to find listings of foreclosed homes for as little as $18,000. For homeowners in danger of losing their homes to foreclosure, the Expo will give them access to a pool of several qualified buyers.

“The Orlando Foreclosures Expo was born out of the need for people in the real estate industry to promote their services to the public,” Peachey explains. “This will be the first event of its kind where real estate industry professionals and the public can learn about the foreclosure industry, network and links 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. 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 adds. “The foreclosure industry has been more like a private club where the public cannot obtain a membership. The Orlando Foreclosures Expo will break down those barriers.”

The Expo will also allow one attendee to walk away with a free home. In addition, another eventgoer will win a full carpet replacement, including installation and labor, for their property.

REO Resolution Trust, LLC will give away a home at the Orlando Foreclosures Expo. Every Expo attendee will be eligible to win just buy purchasing the $10 entrance ticket. Eventgoers can buy as many tickets as they prefer.

REO Resolution Trust, LLC, which owns and operates BankerREOs.com, buys bank-owned properties and sells them to investment groups and individual investors.

Conquest Home Services, a Longwood-based company that provides carpet services for new home builders and performs full-scale home renovations, will give away a full carpet replacement including labor (up to $3,000 and 200 yards of carpet).

After this initial Orlando Foreclosures Expo is held, Peachey plans to organize similar events across Florida in areas like Tampa/St. Petersburg, Miami, Jacksonville and Tallahassee. The second Orlando Foreclosures Expo will be held June 6-7 at the International Plaza.

“There is undoubtedly a great need for an event like this,” Peachey says. “It will benefit every professional associated with the foreclosure industry, and it will also help those people who are trying to avoid foreclosure.”

N.O.A.H Foundation to have a presence at the Orlando Foreclosures Expo

When Phil Peachey created the first-of-its-kind Orlando Foreclosures Expo, he envisioned an event that would not only bring investors, bankers and real estate professionals who deal with foreclosures under one roof, but also serve as a resourceful forum for homeowners in danger of foreclosure. To facilitate that objective, he has donated booth space to the National Opportunities for Affordable Housing Foundation (N.O.A.H.).

When the Orlando-based nonprofit organization was started in 2001, it focused on helping home buyers find down payment assistance programs. That is still an integral part of the organization’s mission, but now it is helping homeowners who are struggling either remain in their home or sell so they can preserve their credit and be in position to buy again in the short term.

“We are helping homeowners who are in pre-foreclosure liquidate home through short sale process by negotiating on their behalf with lenders so the homeowners do not end up with a foreclosure on their credit report that will make it challenging for them to buy another home for several years,” said Chuck Mahoney, who is president and founder of N.O.A.H (www.noah-dpa.org). “We have a line of credit we tap into that allows us to buy the home and hold it, or purchase the home and sell it immediately to a homebuyer.

“It is our intention to do all we can to help this real estate market recover by preventing foreclosures,” Mahoney added. “We also continue to help homeowners get down payment assistance so they can achieve their dream of home ownership.”

When the inaugural Expo (www.foreclosuresexpo.com) is held at the International Plaza Resort & Spa in Orlando on February 7-8, it will serve as a place 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.

The Expo will also serve as a resource for homeowners facing foreclosure find professionals who can help them either remain in their homes or find buyers. There will also be a help desk where homeowners can talk to real estate professionals about their options.

“We are glad that N.O.A.H. will have a presence at the Orlando Foreclosures Expo because they will be able to help homeowners directly, and make real estate professionals aware of their services,” Peachey said.

Mahoney believes that the Expo is especially right now, at a time when many more families will be facing foreclosure.

“Unfortunately, there are many more foreclosures to come, and the only way the market will recover is to see a reduction in the inventory of available homes,” Mahoney said. “The Orlando Foreclosures Expo will help match investors and home buyers with sellers, which will lead to transactions that will contribute to reducing the inventory.

“People who are struggling and facing foreclosure need assistance to get out of their homes without devastating their credit,” Mahoney added. “The Expo is a forum for these individuals as well.”

Exhibitors rush to get booth space at the Orlando Foreclosures Expo

Foreclosure numbers are staggering nationwide, but they are especially eye-opening in central Florida, where the foreclosure rate almost tripled in 2008 compared to 2007. According to RealtyTrac Inc., metro Orlando experienced the country’s seventh highest foreclosure rate last year. It appears that now is the right time for the first-ever Orlando Foreclosures Expo.

When the inaugural Expo is held at the International Plaza Resort & Spa in Orlando on February 7-8, 2009, it 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. There will also be a help desk where people facing foreclosure can talk to real estate professionals about their options.

“There is such a lack of information among real estate professionals about foreclosures – how to find foreclosures properties for sale, how to get involved if you are an investor, people to network with.” said Mike Kane, who is CEO of ForeclosuresDaily.com, a subscription web site that provides foreclosure information listings throughout Florida. “This event brings a wide range of people that deal with foreclosures and short sales in one place at the same time.

The Orlando Foreclosures Expo (www.foreclosuresexpo) is drawing so much interest from exhibitors that booth space is almost sold out. The interest reinforces founder and organizer Phil Peachey’s belief that it was time for an event like this.

“The Orlando Foreclosures Expo was born out of the need for people in the real estate industry to promote their services to the public,” Peachey explains. “This will be the first event of its kind where real estate industry professionals and the public can learn about the foreclosure industry, network and links 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. 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 adds. “The foreclosure industry has been more like a private club where the public cannot obtain a membership. The Orlando Foreclosures Expo will break down those barriers.” 

Kane said that every person who attends the Orlando Foreclosures Expo will receive a complimentary trial subscription to ForeclosuresDaily.com, which tracks foreclosures data in all 67 Florida counties. Kane’s company will have a booth at the Expo, too.

“Forecasts indicate that there is no end in sight for the foreclosures crisis. Our objective is to give real estate professionals and investors information they need to help folks in foreclosure and let them know about their options,” Kane said. “Our investors purchase properties in pre-foreclosure so the homeowners can preserve their credit.

“A growing number of consumers looking to buy real estate are interested in foreclosures because there is a vast inventory of homes at below-market prices,” Kane said. “Investors are not our only customers. We are also seeing an increasing number of people who live in the homes they buy.”

Husband-and-wife real estate agents Frank and Angela Schifano have received so many inquiries about foreclosures since they arrived in central Florida late last year that they create the Orlando Foreclosure Trolley (www.orlandoforeclosuretrolley.com), which is a trolley-like mobile that transports ticketholders to bank-owned properties in Orange and Osceola counties, and West Palm Beach.

The Schifanos are not new to the foreclosure trolley idea. The longtime Boston residents were real estate agents in that city, and they operated a trolley with success. The couple decided to leave Massachusetts to be closer to their investment properties in Florida and work in real estate in the Orlando area, where they are co-founders of Home and Living Real Estate in Windermere. They are excited about the potential of the foreclosure trolley here.

The excursion takes guests on a tour of 15-20 bank-owned homes. A light breakfast and lunch are served during the trip, which lasts between four to five hours. A mortgage broker who specializes in REO properties is on board every tour, educating guests about the lending process. At times, Schifano says, a home inspector will also give a presentation, and the Schifanos will discuss the process of buying foreclosed homes.

“We call it a rolling classroom,” Angela Schifano said. “It is a tour where you make new friends and contacts, and sometimes there are bids offered and contracts written right on the trolley.”

As an expert about selling bank-owned properties, Schifano believes there is a need for the Orlando Foreclosures Expo.

“Many people don’t know how to find bank-owned homes, and many people also are not familiar about the process of buying and selling foreclosures, so the Expo will be a valuable forum for education and information,” said Schifano, whose company will have a booth at the event. “I am looking forward to the contacts we will make, but I am also interested in increasing my knowledge as well.”

Want a free home? Does new carpet sound appealing? You can win both at the Orlando Foreclosures Expo

When the first-ever Orlando Foreclosures Expo is held from Feb. 7-8 at the International Plaza Resort & Spa, it will bring a diverse group of individuals and companies that work with foreclosures and short sales under one roof. 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. Homeowners who are facing foreclosure can speak to investors interested in buying properties, and professionals who can provide them with options if they want to sell their house, or remain in it and avoid foreclosure.

The Expo will also allow one attendee to walk away with a free home. In addition, another eventgoer will win a full carpet replacement, including installation and labor, for their property.

“Our event will be a place where people can network, learn about aspects of the foreclosures and short sales industry they might not otherwise have known, and improve their business,” said Phil Peachey, who is founder and organizer of the Orlando Foreclosures Expo (www.foreclosuresexpo.com). “The home and carpet replacement giveaways are valuable prizes that will make the winners especially glad they attended.”

REO Resolution Trust, LLC will give away a home at the Orlando Foreclosures Expo. Every Expo attendee will be eligible to win just buy purchasing the $10 entrance ticket. Eventgoers can buy as many tickets as they prefer.

REO Resolution Trust, LLC, which owns and operates BankerREOs.com, buys bank-owned properties and sells them to investment groups and individual investors. They will choose the property within a week before the Expo.

“The winner of this giveaway will receive a home that can generate revenue as an investment property, or they can live in it if they choose,” said Will Bland, who is president of REO Resolution Trust. “This person will own the home free and clear.”

Bland said that his company’s ultimate goal is to give away one home per month to a family in need. The donation at the Expo is just the beginning, he added. Bland will also give a presentation at the Expo about his company’s “turnkey system” that allows investors to buy properties, find qualified occupants, prepare the occupants to own the respective home, find a company to buy the note and then sell it to the occupants (giving them the chance to own the home).

Conquest Home Services, a Longwood-based company that provides carpet services for new home builders and performs full-scale home renovations, will give away a full carpet replacement including labor (up to $3,000 and 200 yards of carpet).

“The prize is ideal for someone who has an unoccupied home and intends to use it as an investment property, or a person who buys a home to live in,” said Rod Fair, who is vice president of sales for Conquest Home Services. “If you have an occupied home, you can win the giveaway, but you must either move the furniture on your own, and pay the cost for moving the furniture before the carpet is installed.”

Before the real estate crisis, Conquest primarily provided flooring for new home builders, but once the market experienced a downturn, the company added renovation services to its menu. Conquest bought and renovated a 4,500-square-foot building in Longwood to house its showroom.

“We’re a perfect example of why the Expo is a valuable event. We still provide flooring for new home builders, but we have placed a greater emphasis on renovation work to keep our bottom line healthy,” Fair said. “The Expo is a forum where companies like ours will make contacts with property management companies and investors who buy bank-owned homes because most of these properties need some level of renovation work.” 

Orlando Foreclosures Expo raises $2,000 for Russell Home for Atypical Children

A test drive in an Aston-Martin and a weekend vacation for two in Naples were among the prizes auctioned at a recent event hosted by the Orlando Foreclosures Expo and held at Luxautica Car Club to raise money for the Russell Home for Atypical Children. Phil Peachey, who is founder and organizer of the Expo, presented the Russell Home with a check for $2,000.

An Orlando-based non-profit organization for brain-damaged children, the Russell Home is near and dear to Peachey, who wanted to help raise funds and awareness for the organization upon visiting the home last year. Russell Home officials are trying to generate financial help to build a new facility. The Orlando Foreclosures Expo will be held from Feb. 7-9 at the International Plaza Resort & Spa in Orlando.

“The Orlando Foreclosures Expo is not just a first-of-its-kind forum that brings buyers, sellers and other professionals who work with short sales and foreclosures under one roof, but it is also designed to help people facing foreclosure,” Peachey said. “In the spirit of helping, we are committed to creating added exposure for the Russell Home. Hopefully, the money we raised helps them get closer to their financial goal for building a new facility.”

The Russell Home (www.russellhome.org) was founded by Vantrease Russell in 1951 when the woman who was affectionately called “Grandma” was asked to care for a 3-year-old with Cerebral Palsy. The child, whose name is Marilyn, is still a resident at the home today.

Over the years, more children whose parents could not give them proper care were taken in by Grandma Russell, who transformed her house into an organization that offers full-time residency and care, day care and part-time care for brain-damaged children. Today, the Russell Home has more than 60 full-time residents (many who are adults and have lived their since infancy) and a full-time staff of 21. Grandma Russell died in 2003, but her daughters have continued her mission.

At the recent fundraising event, Russell Home spokesperson Vantrease Blair - one of Grandma Russell’s granddaughters who are involved in operating the facility – gave a presentation about the organization’s mission.

“We do not receive aid from the local, state or federal governments, so we solely rely upon private donations,” Blair said. “Without the compassion and generosity of organizations like the Orlando Foreclosures Expo, the Russell Home would not be able to continue. We are grateful for fundraising events like this one.”

One of the prizes that raised money for the Russell Home was a $250 hotel stay anywhere in the southwestern United States donated by Barterfirst International, which is based in Casselberry.  

Peachey created the Expo (www.foreclosuresexpo.com) as a forum for homeowners facing foreclosure and looking to sell their homes, and for real estate industry professionals who are involved in foreclosure-related work. The Expo will bring 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 under one roof.

The Expo will also allow homeowners in danger of foreclosure to list their properties and the minimum price they need. In addition, homeowners facing foreclosure can visit a help desk, which will be staffed by real estate industry professionals who can provide advice on how the homeowners can resolve their situation.

The first-ever Orlando Foreclosures Expo will feature experts who will offer guidance and education to first-time real estate investors, home buyers and those facing foreclosure

Financial experts agree that the real estate market – and the economy as a whole – will not improve until the inventory of available homes shrinks. Because of the abundance of foreclosed homes on the market, today is an ideal time for seasoned real estate investors, and first-time home buyers and investors, to buy properties. These factors are among the reasons why the inaugural Orlando Foreclosures Expo is a timely event.

When the Expo (www.foreclosuresexpo.com) takes place from February 7-9, it will bring together for the first time a diverse group of individuals and companies that work with foreclosures and short sales 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 if they want to sell their house, or remain in it and 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 Orlando Foreclosures Expo is being held at the exact time it is needed for anyone involved in buying and selling foreclosures, short sales and distressed properties,” 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. Abrams will be an exhibitor and a speaker at the event, talking about how to sell short sales and how to buy, rehab and finance foreclosures. “Importantly, the Expo will give visitors access to professionals who have a high level of expertise in buying and selling real estate.”

Phil Peachey, who is founder and organizer of the Expo, agrees with Abrams that the time is right for an event like this.

“There is undoubtedly a great need for an event like this,” Peachey said. “It will benefit every professional associated with the foreclosure industry, and it will also help those people who are trying to avoid foreclosure.”

Foreclosure statistics remain staggering. According to the National Association of Realtors, current market conditions indicate that one of out 105 properties in Orange County is in foreclosure. In Lake County, the number is one out of 247, in Seminole County it is one out of 236 properties and in Osceola it is one out of 101.

After a 13-year boom from 1992-2005, the real estate market experienced two years of instability and then a crash in 2008, Abrams explained. In 2009, the inventory of available homes will start to drop, Abrams believes, which is a key to stimulating the real estate market and the economy. Abrams thinks there will be a full market recovery in 2010.

“Considering the current market conditions, this is obviously a good time to buy properties,” Abrams explained. “If you are a first-time home buyer or investor, it is important to become well-equipped with knowledge and information so you can make an educated decision.”

According to Yahoo.com, 42 million individuals will be willing to buy or sell properties when they reach a comfort level of confidence in the market. However, Abrams points out, since many people don’t understand how to enter market, they are less apt to be a part of it.

“Real estate is still a sound investment,” Abrams said. “Like any investment, though, it is important to understand how to proceed. This is why the Expo will be such as valuable forum because it will be buzzing with resources and expert guidance for buyers, sellers and current homeowners alike.”

Sponsors and exhibitors embrace first-of-its-kind Orlando Foreclosures Expo

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 if they want to sell their house, or remain in it and 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. “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.

“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 at
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 Southeast 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.