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18% of all homes sold in the Palm Springs area were REOs in January

By
Real Estate Agent with The Paul Kaplan Group, Inc

Recent reports from First American Title show that 18.1% of all homes sold in the Palm Springs area in January, were REO's. That's a little bit higher then the average for Riverside County, which is 16.2%.

 We help buyers and investors sort through all the REO listings to find the best deals available. 

Comments (3)

Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures
I don't know if it's true, but I heard that all the foreclosures in California is causing a lot of buyers to buy. 
Feb 27, 2008 06:55 AM
Paul Kaplan
The Paul Kaplan Group, Inc - Palm Springs, CA
Mid Century/Modern homes in Palm Springs - www.Pau

it is true Bob.  Because of the bragain deals now available, homes are more affordable to many as first time buyers or those taking advantage of low priced 2nd homes in the desert communities. 

A beautiful 3 bedroom 2 bath REO in a great neighborhood, was just listed for $219,000 this past week, and sold in 4 days....we haven't seen prices like that in years here in the Palm Springs area.  Smart buyers are taking advantage of the low prices and low interest rates.

Feb 27, 2008 06:59 AM
Rick Tourgee
Robert Paul Properties, Inc. - Provincetown, MA
Provincetown and Cape Cod
I think the good news about 18% of the properties being REO's is that it helps bring the inventory down and will allow those Buyers to trade up, down or sideways at some point!
Feb 27, 2008 09:13 AM