Re: Question for Active Trustee Sales Buyers

MTI: thanks for your reply. I live on the coast and my farm has been Kern county for the last ten years. I've been watching the trustee's sale buyers for several months now. I'm not seeing those buyers getting the significant discounts that would make spectacular deals, at least not in volume. They are mostly competing for the dropped min. bids. A lot of the deals are comparable to shorts. The shorts in my farm are good deals, even for rehabbers. It's just not a consistent or easy way to buy inventory.

True about the short/reo price becoming a comp, but in my farm, the rehab re-sales are 90-120 days out and sellers are getting their price. So, it appears the comp issue is being treated fairly by appraisers/lenders.

I've always flipped my properties to rehabbers, but now I'm thinking of doing the rehabs to make them retail ready, especially the more cosmetic ones. So many crews are available for work, and I have decent private money, so I feel less need to rush the sales. Interesting times in RE.