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% of foreclosures in our market. What is the percentage in yours?

I was in San Diego this past week for a Realty Executives Convention. While I was there, I visited another franchise in the San Diego area. When speaking with the borker/owner there, she said that bank owned REO home and short sales made up 57% of their real estate market!!!!!! That floored me. In the Minneapolis market, we have roughly 8.5 homes for every 1 buyer. I think we are around 35-45% REO homes and short sales. What is going on in your region? www.auctusrealty.com

Posted by Jason Whaley on 03/24/2008 03:44 PM

Comments (3)

3 Comments on % of foreclosures in our market. What is the percentage in yours?

MAR

2008

Seattle is highly competitive when is come to obvious equity in a piece of real estate. I have been submitted deals and been third or forth in line.

Im not sure what the % is in my city but Im noticing more and more in the MLS to the point that Im searching for regular sales.

Our buyers are getting more annoyed everytime we have to write another offer and get back in the car. It also seems like the listing agents and the appointed title companies that are working with these banks are not motivated to get my deal done. If there is a snag, then they want to not work and move on to the next offer. They are lazy because they know that they have more listings coming down the pipe.

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