OfflineWell it's a day after Sept 15..The day I kept reading that the banks are going to release alot of forclosures!
How long before we see some more inventory??Anyone have any more info??lol
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It's AFTER Sept 15..How long Till we see more RE For Sale?
Posted on: Wed, 09/16/2009 - 23:00
It's AFTER Sept 15..How long Till we see more RE For Sale?
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- by pinballdan
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I havent heard of this... so i agree, more info would be great!
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Tracy Lynn
My daily journal link.
I'd love to hear from you.
http://www.deangraziosi.com/real-estate-forums/investing-journals/29564/...
In CA the moratorium ended on Sept 15th. It typically takes 90 days for them to work through the process. That information aside, the banks know they can't dump a bunch of REOs on the market because it will bring prices down even more. So they are letting a few out at a time, selling 'lots' of them to investors (I’ve been approached if I want in on one of these deals), and some banks are actually going into the renting business. So even though one would think the REO door in the sky will open and there will be plenty for all, it may not be the case.
If anyone has any other information, I would sure be interested in hearing it.
Wendy
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com
http://realestate.msn.com/article.aspx?cp-documentid=21702765
"Faith is taking the first step even when you can't see the whole staircase."
~ Martin Luther King, Jr. (1929-1968)
www.beaconinvestorsgroup.com
You should see more foreclosures in CA around mid October. The banks do want to dump all at one time. They're trying to stabalize housing prices. It will take them at least a month before you notice the increase on your MLS.
KimmyJ
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