Archive for the 'REO Bank Owned Properties' Category
It’s a Seller’s Market if the Home is an REO (Bank Owned) Property
16 Comments Published by October 27th, 2008 in Buyer Advice, Foreclosure Activity, Foreclosures, Irvine CA real estate, Personal Insights, REO Bank Owned Properties, REOs (Bank-Owned, Foreclosed Properties). by
Photo courtesy of The Truth About Mortgage
With the financial markets in turmoil, and with the luster lost in the real estate market, one wonders where the savvy buyer/investor is placing his/her dollars. If you remove gold bullion, and/or stashing your money under the mattress from the safe haven equation, I would say that the REO (real estate or bank-owned) market is currently vying for the home buyer’s/investor’s cash.
I’ve been tracking the REO market here in Irvine for my buyers and sellers. Buyers want to know that if they decide to purchase a home now that their investment is protected from a further market decline. They feel that if they focus on foreclosed properties, then they have, to some extent, a built-in cushion just in case the real estate market experiences further declines. Whether or not this perception proves to be true is still debatable. However, this is the buyer’s/investor’s view of the current state of the real estate market. (more…)
