2 Data Points and a Trend may be forming
OK so I just got the following email from a mid sized REO agent in my investment market.
"We expect 60-70 new REO listings from Jan 15-Feb 15" - In the past his team would get 15-20 a month so a large spike for sure. And as an earlier post indicated this is now the second time I heard about this jump in upcoming listings
I don't know if others are seeing or hearing about this in their investment markets. Please tell me you are hearing the same things, else I am affraid this data is unreliable as I see no reason for my market to release properties first. Maybe this agent is simply picking up listings from a broker who lost the listings ...
A house in my market is like a house any where else so hopefully your REO agents are telling you about all the goodness coming in early 2010.
Let me know what your hearing ...
Good Investing
Comments (3)
I've heard similar things from REO agents in my area. Not sure how to take it though. Beginning of 09 saw a ton of HUD stuff hit the market in my area.
Adam Davis, about 15 years ago
Nothing too exciting in the REO market in DFW area. I'll have to agree with Peter, the lenders are holding too much and 2010 should see things heat up. Let's hope the Washington doesn't offer any more bailout $$$ and the banks have to liquidate to keep afloat. Watching this economy is better that any Hollywood soap-opera.
Kyle King, about 15 years ago
I have not heard anything specific... but I have been saying for the past couple months that lenders are going to start to get rid of their REO stuff after the first of they year. They know they can't hold it forever... Lets hope that this is the sign of the times.
Peter Giardini, about 15 years ago