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Next REO Wave

Inventory seems to be drying up and yet, there is so many NOD's being filed. When is this next wave coming??? I keep hearing May/June.

A REO agent with out any listings is like a painter without a paint brush.

-Kim

Posted by KIM WHITE on 05/11/2009 01:02 PM

Comments (7)

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7 Comments on Next REO Wave

MAY

Kim-I am waiting for that wave, like a surfer!

It will probably come in June when I take my vacation.

Kim, don't worry, we will have foreclosures and short sales through 2010 at least... I've seen the stats of the 5-year ARM loans, most are coming due in 2010.

Good 2 hear...I don't like 2 wait & want 'em now. I've sold everything my banks have hired me 2 sell. More please...yes please :)

MAY

I keep hearing it's coming but it sure hasn't started as of yet.

JUN

I suspect the banks will trickle the assets into the market. I think we'll see these assets trickle a little faster into the market over the next few months, but I don't think the banks will flood the market like they did last year.

SEP

Rita, I think have hi the nail on the head. I know my market here had slowed down, but now my inventory has begun to build up again. I know here a lot of the investors are out looking for projects (properties that need repairs) to redo during this coming fall and winter. I have seen that the price categories/ ranges for many of the REO's have gone up. With a lot of the investors I am trying to get them to understand many people will not be able to buy (forclosures, and bankruptcies), but will have to have somewhere to live so why not lease these properties for the next 2-4 years.

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