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Are banks 'hoarding foreclosures'? in Pensacola, Pace and Gulf Breeze
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Are banks 'hoarding foreclosures'? Probably, but they are losing money at record amounts here in Pensacola, Pace and Gulf Breeze.
 
We have 4 brokers here that handle 73% of all foreclosures and while they put them in the MLS most if not all have been sold already to there investors. While agents complain banks, the government and the tax pay loses big time. I made offers on behalf of 4 different buyers on 19 different properties since January at higher prices than the recorded sale. How does this happen?
 
Some agents think homes sit empty as banks wait for selling prices to increase. Banks say the process just takes time. Read more.
Recent housing surveys are showing an ... more

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