Foreclosure Inventory in Hampton Roads

It's been two weeks since my last update, but the numbers haven't changed dramatically over that time. REO properties continue to represent around 8% of overall available inventory, Short Sale listings remained virtually unchanged, so distressed properties still represent only 21% of available inventory.

That means for every five homes on the market, one of them is a short sale or bank owned foreclosure. Not too bad when compared with some parts of the country which were hit much harder. If you're considering buying an REO property, talk with an agent who is familiar with the market segment. If you are an asset manager looking for an agent to market properties for you, be certain it's an agent who understands the local and REO markets. Call me for more info.