A few months ago a company contacted me to help them auction off foreclosures for several of their clients. If they have any houses for me, they fax me the details and paper work on Wednesdays and I auction off these foreclosures in the Dyer county courthouse on Thursdays. Most of these properties have been financed with B-paper mortgages(originated by national out of town mortgage companies). All of our local banks have been sheltered from most of the foreclosures!
I got a call a couple of days ago from my company asking me if I can auction any day of the week as they are going to be working with a new much larger client who needs to auction several properties coming up.
Our Dyersburg real estate market has turned the corner as pending are up,new listings are up and the number of homes sold is also up. I am confident the new foreclosures will not have any adverse affect on our market.