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Influx of REO due in May and June!

By Dan McCurry

Real Estate Sales Representative with Keller Williams Realty

April 16, 2009 05:32 PM

I was talking with one of my Asset Managers earlier today, I asked her if we should expect many new listing any time soon? Her response was "Get ready because we are going to get slammed with a bunch in May and June". I hope she is right, I've not been getting many new assignment lately.

A little part of me hopes she is wrong, our inventory levels appear to be dropping here ( Elk Grove, Ca.) lately our prices have a better chance of leveling out if we don't get a big influx.

A Bigger part of me is ready to gear up and get to work. I love being busy and working my listing. I tend to thrive and stay focused when I have more work to concentrate on.

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Kate Bourland

Marketing with Kate - Redding, CA

Onlilne Marketing Mobile Marketing

This is definitely one of those double edged swords. I've been thinking lately that the market might be bottoming out. Based on what I'm reading today it doesn't appear to be.

Apr 16, 2009 05:42 PM

Patty Luther

RE/MAX Rock-n-Roll Realty - Lewiston, ID

Lewiston ID Real Estate, Idaho-Washington

OH BOY! those REO's do keep a Realtor busy... PattyLuther

Michael S. Mackey

CENTURY 21 All Islands - Mililani, HI

REALTOR ABR, CRS, GRI, RSPS

This morning the loca headline was "State foreclosure filings soar 503%". Hawaii had one foreclosure for every 700 households. We were number 30 on the list, meaning there are 20 states whose foreclosure rate exceeded ours. Yes, more REO's are on the way.

Apr 16, 2009 06:41 PM

Richard Overall

United Country Premier Properties - Harker Heights, TX

Your OVERALL Long-Term Real Estate Resource

Dan, I'm oiling up my scanner as we speak...bring 'em on.

Apr 16, 2009 07:27 PM

Fernando Herboso - Associate Broker MD, & VA

Maxus Realty Group of Samson Properties - Clarksburg, MD

301-246-0001 Serving Maryland, DC and Northern VA

You realize that is our turn. .. we are the Realtors that will save the country by getting rid of all these foreclosures . . so we can have equity gains in American homes again !

It is our turn!

Apr 16, 2009 10:19 PM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

It was inevitable. Fannie/Freddie/HUD had moritoria on foreclosures in Nov.Dec. They are now just catching up with what they put off (for public relations).

The delinquencies weren't cured. The homes have deteriorated more. The arrearages have simply mounted.

Now the cleaning up will begin.

Get ready.

Apr 16, 2009 10:36 PM

Konnie Mac McCarthy

MacNificent Properties, LLC - Cobb Island, MD

Broker/Owner - VA & MD "Time To Get A Move On!"

Same here.it has been slow..but I am hoping it picks us...but as I say that, that means people are losing their homes..and that is alwasy bitter sweet for me.. :)

Apr 17, 2009 12:17 AM

Influx of REO due in May and June!

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