Banks fixing the properties?

[Sharad M.]

Hello all,

So I was talking to a realtor this morning and I asked him why there weren't more properties coming on the market as compared to last year. He mentioned that some banks are actually fixing up the properties themselves and then listing them back on the market at or just below the market value. He said part of the reason for this was because banks were getting such bad rep because of the condition of the properties they were selling and how it was affecting the whole neighborhood.

If that's the case that banks are fixing the properties themselves, that can't be a good thing for investors looking for undervalued properties.

Have you guys noticed in your area that foreclosures have slowed down considerably and some banks are fixing the properties themselves?