pennsylvania: REO - 01/10/08 10:44 AM
This was posted by one of our Dallas franchises.  Was wondering if anyone in the Philadelphia market is experiencing similar situations. 
Some interesting things happening in our sweet spot. There are first time homebuyers getting turned away from foreclosures (REOs) as their first home because the lender has not owned the property for 90 days and or property condition. The property then sits for the 90 days and the lender drops the price and an investor buys it. This is happening across the country. I find it ironic that seasoning (just one anti-investor cure) is fueling the sale of more foreclosed (REO) … (0 comments)

 

Edward Mehnert

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