Over the past couple of weeks I have been getting frustrated when trying to find houses for my clients. They are of the type that do not want to wait for a Short Sale and personally I do not blame them. You wait for weeks (or months) and you still might not get the house.
So we have been looking strictly at bank owned properties. I have noticed a severe decline in the amount of REO's on the market. Furthermore, the properties that are available all have multiple offers within days of being listed. I saw one that had been on the market 5 days and had 14 Offers. So you might ask, "how can this be?" Where are all the REO's going.
I started talking to multiple sources. Many people say that we are in the last year to 18 months of the REO fiasco. I actually had someone call me today, specifically to tell me that. Are we really reaching the end of the large amount of REO's? Or is this just a break before another storm of properties hits the market.
I did a little research to back my conclusion that the volume of REO Homes has declined. I searched on our MLS at brokers that were averaging 200+ REO's at a time. Now they have between 30-50 properties. That is a sharp difference from before.
Well, I guess there is no way of really knowing where things are going because no one has a crystal ball. But, it would be nice to see things return to normalcy and have some equity sellers.
What are your thoughts? What are you seeing in your market? I would love to hear.
Check out this great 2 Bedroom 2 Bath Home in Millennium Estates, Phoenix Arizona. This 2 Bedroom 2 Bath Home in Phoenix Features a large, bright, open floor plan with a giant patio that is great for entertaining. This 2 Bedroom 2 Bath home features distinctive custom tile work unlike other homes in this community. This 2 Bedroom 2 Bathroom Home is in the Fowler Elementary School District and the Tolleson Union High School District. Call Matt @ 602-904-4722 to see this great home today!
  |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Welcome Home Realty : 13020 W. Rancho Santa Fe, Suite # 102 - Avondale AZ 85392 : 602-904-4722 |
Fabulous 4 Bedroom 2 Bath Home in Avondale, Arizona. This 4 Bedroom 2 Bathroom Home is located in Cashion Park South and is 1485 Square Feet. This 4 Bedroom 2 Bath Home has tile in all of the right places and is a great deal. This 4 Bedroom 2 Bath HUD Home needs some TLC but is at a great price. Check out this 4 Bedroom 2 Bath HUD Home today. Call Matt @ 602-904-4722 today to see this great home.
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Welcome Home Realty : 13020 W. Rancho Santa Fe, Suite # 102 - Avondale AZ 85392 : 602-904-4722 |
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
Home
