Next REO Wave

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Real Estate Agent with Keller Williams VIP Properties

Inventory seems to be drying up and yet, there is so many NOD's being filed. When is this next wave coming??? I keep hearing May/June.

A REO agent with out any listings is like a painter without a paint brush.

-Kim

 

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Rainmaker
460,197
Joseph D. Federico
Donahue Real Estate Co. - Dedham, MA
Eastern Massachusetts Real Estate

Kim-I am waiting for that wave, like a surfer!

May 11, 2009 01:16 PM #1
Rainmaker
269,553
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

It will probably come in June when I take my vacation.

May 11, 2009 08:38 PM #2
Rainmaker
414,410
Regina P. Brown
California Coast & Country Homes, Inc. - San Luis Obispo, CA
e-Pro Realtor

Kim, don't worry, we will have foreclosures and short sales through 2010 at least... I've seen the stats of the 5-year ARM loans, most are coming due in 2010.

May 11, 2009 11:47 PM #3
Rainmaker
180,299
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee California

I keep hearing it's coming but it sure hasn't started as of yet.

May 12, 2009 05:13 PM #4
Rainmaker
157,985
Rita Gibbons
MacDoc Realty LLC - Fredericksburg, VA
The Gibbons Group

I suspect the banks will trickle the assets into the market.  I think we'll see these assets trickle a little faster into the market over the next few months, but I don't think the banks will flood the market like they did last year.

Jun 12, 2009 06:01 AM #5
Rainer
189,242
Paul Durry
RE/MAX Professionals - Lawton, OK
Broker Associate, CDPE, CIAS, CHMS

Rita, I think have hi the nail on the head. I know my market here had slowed down, but now my inventory has begun to build up again. I know here a lot of the investors are out looking for projects (properties that need repairs) to redo during this coming fall and winter. I have seen that the price categories/ ranges for many of the REO's have gone up. With a lot of the investors I am trying to get them to understand many people will not be able to buy (forclosures, and bankruptcies), but will have to have somewhere to live so why not lease these properties for the next 2-4 years.

Sep 16, 2009 05:44 PM #6
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Rainer
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KIM WHITE

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