REO flood in 2009!

I just interviewed one of the mega REO brokers here in the Las Vegas area.  His name is Tom Blanchard and he is currently handling approximately 500 REOs.

During the interview it came up that the largest "Re-Set" of sub-prime loans was to hit the country in October of 2008. He further suggested that it would be six to nine months later that the largest number of REOs would hit the market.  Mr. Blanchard predicted that the markets recently affected by "market Shifts" would take their last dip in value sometime in 2009.

The good news was that he believed we were already near the bottom of the market but he felt that we were experiencing a "false positive" at this time with a slight tic up in the market. (sales and values)

For the complete broadcast with Mr. Tom Blanchard go to www.RealEstateLive.TV then Click on the link above right which says "REO Update Show."

(It's 28 minutes long)

This is not meant to be bad news, just the facts that professional need to have. 

JC in Vegas.