Monday, December 7, 2009

The thin months

Now that we have moved into the holiday season the new REO inventory will be really thin. Banks really don't like to kick folks out of their homes during the holidays. From a PR standpoint it's not a good thing to throw a families Xmas tree and presents onto the front lawn during an eviction. That sort of behavior will get you on the 6 o'clock news for sure.

So, if you are in the hunt for an REO property, don't expect too much until around Feb. Since the banks don't foreclose until after the holidays and there is another couple of weeks to get the home listed we are looking at sometime in Feb before there is any chance of a decent supply of REO's.

1 comment:

Anonymous said...

Yeah, this is true. Earlier it was Obama's policy to save homes, then huge inventory drop down and now again it is festival time. Let us see how thing going to work in and after February.
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