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Are things starting to change?

Pent up buyer demand, historically low interest rates and a large inventory of homes for sale can lead to a busy spring market. Add one more thing to the mix. Some lenders are really getting serious about pricing their REO properties and they are pricing them to sell. I have seen some big reductions locally here and also some new REO listings that have been cleaned, with utilities on, and priced well.

I have had multiple offers on one of my Pennsylvania properties this week after months of minimal activity.

Yesterday, I was outside getting the mail and I saw this overhead. We were having one of the bluest skies in a long time and someone was taking advantage of it.

It is time to soar!

Posted by Rich Mielke, REALTOR, Frederick Maryland Real Estate on 01/23/2009 09:22 PM

Comments (11)

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11 Comments on Are things starting to change?

JAN

I showed an REO todat (the first time in a looooong time). I think the price was right on the money...to sell the house. It was easily $100,000 less than the purchase price three years ago and the house was one of the newer McMansions (built in1999) that has nice 20 foot ceilings in the family room, etc. It just needed a little TLC -- paint, carpet, a new washer and dryer. All the appliances and kitchen cabinets were still there... it hadn't been gutted. So you may be right. Once they get into REO status the banks may want to get rid of them.

I'm gearing up for the huge break in the spring! Getting my boat out to ride the flood of ready buyers! I'm stoked! I can't wait for it! Hope you're ready!

That's great! I'm having trouble reaching the listing agents who are working for the banks...there is one phone number and it goes to a machine...no cell phone...sad.

I'm so busy I can't see straight!

Rich, I picked up three new buyers in the last two weeks and two sellers. I've been busy all month and hope to be writing an offer soon!

Alright, this is what I like to hear. The macro-market here in New York City is not exactly promising, but I am super busy with my customers right now, just got a lease done today, taking out motivated buyers on Sunday, and Monday. Let's hope I can get some good accepted offers on my listings next week!