My partner and I have been listing bank owned properties (REO) for some time now in addition to short sales, conventional sales and assisting buyers.  We do not spread ourselves too thin by listing properties from the many, many asset companies out there. We stick with two asset companies and have been very pleased with their business model.  The asset managers work with the utmost professionalism.

This time last year we were swamped with foreclosures.  You will read about the ghost inventory of homes foreclosed upon, but not yet released to the listing agents.  We actually attended a direct lender's conference in May.  It was said to everyone there look for an influx of homes in the summer time.  Many REO agents are waiting for the slew of homes to come out to them.

It  has not happened yet.  Talk around the water cooler was  "It's coming, it's coming".  That initial anticipation has come and gone in the last two months. 

We have received several homes, one that was reassigned from another agent.  Not sure what that person did wrong, however, within two days of being listed, I got 8 offers.  The inventory is low yet the local newspapers are making some money publishing page after page after page of notice of trustee sales.  At some point it has to come out somewhere.  

We are constantly shifting with the changes in our industry.  Whether it be REOs, short sales, regular sellers,  first time home buyers, VA buyers, FHA buyers, Investors........we are about putting sellers together with buyers. Short Sales are getting through. Investors are finding incredible deals.  If the ghost inventory comes then we are ready, in the mean time we are not waiting around!  There is plenty to keep us busy!

Benicia, CA Real Estate and Vallejo, CA Real Estate - Choose me to provide local expertise and national exposure.