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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: REO asking price doesn't mean much Posted by SDEquitySaver on April 15, 2009 at 10:40 AM In Reply to: REO asking price doesn't mean much posted by CC in OC on April 15, 2009 at 8:25 AM : REO sellers put their houses on the MLS at a low price to spark a bidding frenzy. You may as well call the list price the opening bid. We are seeing a reduced inventory (for the moment) of REO property. The banks are just not putting them on the market for various reasons. I took a quick look at North San Diego's January REOs and see that 73% of the REOs for that month have not been listed or resold. That tells me the banks can't keep up or are trying to manipulate the market by delaying their delivery of the product. On the other hand, I'm still finding deals, but only in the nasty ugly stuff that the normal buyers doesn't want to deal with or can't get financing for. Follow Ups: Re: REO asking price doesn't mean much warren 5:18 PM, 04/27/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : REO sellers put their houses on the MLS at a low price to spark a bidding frenzy. You may as well call the list price the opening bid. : We are seeing a reduced inventory (for the moment) of REO property. The banks : are just not putting them on the market for various reasons. I took a quick : look at North San Diego's January REOs and see that 73% of the REOs for that : month have not been listed or resold. That tells me the banks can't keep up : or are trying to manipulate the market by delaying their delivery of the : product. On the other hand, I'm still finding deals, but only in the nasty : ugly stuff that the normal buyers doesn't want to deal with or can't get : financing for. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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