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Regular Contributor
lareguy2012
Posts: 108
Registered: ‎02-19-2008
0

Hardly Any REOs in the Valley Area

It used to be last year that it seemed nearly every house on the market was an REO or at least the ones that seemed the be a good deal. It's amazing how few REOs are on the market. 

 

I am considering possibly selling my personal residence soon, so the lack of inventory could help me sell quicker..but I am wondering if anyone thinks we might get more foreclosures coming on the market..I'm guessing probably not since many large hedge funds/institutional investors have been buying up properties (many i'm sure before they are even listed on the MLS) 

Trusted Contributor
mnsweeps
Posts: 196
Registered: ‎06-04-2008
0

Re: Hardly Any REOs in the Valley Area

I don't think there will be many foreclosures in the future as long as the govt manipulates it.

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
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Re: Hardly Any REOs in the Valley Area

Government? I don't think they have that luxury or power. What is well known is that big shark investors are buying tons of properties for peanuts to convert this country into a rentingland country.

Regular Contributor
lareguy2012
Posts: 108
Registered: ‎02-19-2008
0

Re: Hardly Any REOs in the Valley Area

True...the rich get richer...they having been buying up properties cash at deep discounts while the average joe fights over their flips with preapproval letters in hand.

 

Not saying it's wrong or right just fact.

Gold Regular Contributor
sheriff
Posts: 2,355
Registered: ‎06-01-2012
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Re: Hardly Any REOs in the Valley Area


lareguy2012 wrote:

It used to be last year that it seemed nearly every house on the market was an REO or at least the ones that seemed the be a good deal. It's amazing how few REOs are on the market. 

 

I am considering possibly selling my personal residence soon, so the lack of inventory could help me sell quicker..but I am wondering if anyone thinks we might get more foreclosures coming on the market..I'm guessing probably not since many large hedge funds/institutional investors have been buying up properties (many i'm sure before they are even listed on the MLS) 


The hedge funds are buying up most of the REOs before they get listed.  You don't see them because they are buying them up in large groups (think hundreds).  It saves the banks marketing and real estate commissions to sell them that way and the hedge funds get a better price than an individual buyer could hope for.