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Business digest: Sunday, Oct. 2

Droege named new LEDCO president

Dan Droege has been elected president of the board of Longview Economic Development Corp. for the 2011-12 fiscal year beginning this month.

Droege, market president for First Bank and Trust East Texas, was elected president at a board meeting this past week. Keith Honey, community relations manager for American Electric Power/SWEPCO, was elected vice president and secretary, while outgoing board members Andrea Mayo, Gaylon Butler and Carlton Mitchell were recognized for the voluntary service to the city’s economic development entity.

Newcomers appointed to board by the Longview City Council are Joe Bob Joyce, Joyce Steel Erection; Dr. James Wilcox, superintendent, Longview ISD; and Jim Kendrick, CEO of Longview Regional Medical Center, who will each serve as ex-officio, or non-voting, members for two-year terms each.

Leadership Longview Alumni sets fall event

The Leadership Longview Alumni Network will hold a social event for active alumni members from 5 to 8 p.m. Oct. 22 at Enoch Stomp’s Vineyard and Winery.

The evening will feature a meal provided by Perfect Catering, a brief tour of the winery, caricature artistry by Cory Carlson, a silent auction and networking opportunities between current and potential Leadership Longview Alumni members.

Organizers said they encourage alumni members to invite those interested in becoming a member of the Leadership Longview alumni program to the event as well as spouses and guests at a cost of $35 per person. Van transportation will be provided to attendees on a first come, first serve basis.

Transportation reservations are limited to 30 and sponsored by Network IP.

There is no charge for paid alumni members.

RSVP is required by Oct. 14. For reservations or information, contact Mary Whitton with the Longview Chamber of Commerce at (903) 237-4003 for more information or visit the group’s Leadership Longview Facebook page or on the Internet at longviewchamber.com/leadership_longview.

Quality Foreclosed Homes Listings in Fargo ND - Foreclosure Auctions

If you are looking for quality foreclosed Fargo, ND homes, you can find them at foreclosure auctions and listed with local Realtors. According to data released by RealtyTrac, there are two foreclosure auction properties available and 77 bank owned REO properties. According to Trulia, there are 633 resale and new homes available for sale in Fargo with 28 homes in the pre-foreclosure stage. The average list price for a Fargo home was $195,365 as of the week ending August 3, 2011, and represents an increase of 0.4%, or $762 from the prior week. Two popular Fargo neighborhoods are Hawthorne and Roosevelt, with average list prices of $206,542 and $128,487, respectively. First time buyers and investors are looking in other hot Fargo neighborhoods such as Hawthorne, Roosevelt, Woodhaven, Horace Mann, Clara Barton, Anderson Park, Westgate, and Lincoln for foreclosure properties.   

Finding Foreclosed Homes

In fact one of the best ways to find foreclosed Fargo homes is to work with a local Realtor because they are familiar with the inventory in their area and banks always list their REO properties with local Realtors. REO’s are foreclosed homes that did not sell at the foreclosure auction so the bank buys them back and offers them for resale. They offer buyers an opportunity to purchase a quality home at a deep discount, and are safer investments because liens have already been paid and you can buy title insurance on them. Buyers can obtain financing on REO homes as well. The Realtor can help you negotiate the purchase price with the bank so you obtain the best deal for your foreclosure home. 

You can find a list of foreclosed homes that are coming up for auction through the county courthouse, the local newspaper or by driving by neighborhoods and looking for foreclosure sale signs posted at the property. Some online auctions cooperate with local Realtors by paying them a brokerage fee of 1% of the winning bid if their client’s bid is selected provided they register their buyer at least 24 to 48 hours prior to the auction. Auction properties are generally sold for less than REO’s, but the new buyer is responsible for evicting any prior owner or tenant residing at the property, paying off liens and you cannot obtain title insurance on the property.  Most auctions require the buyer to pay for the home in cash.

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