- Foreclosure activity may peak in 2011. The levels continue to rise from the past three years. REO inventories will stay at high levels through 2013.
- There is a massive "shadow inventory" that will slow down the housing market recovery. There are about 1.0 REOs and 700,000 are not listed for sale. 1.2 million homes are currently in foreclosure. Over 5 million loans are in some stage of delinquency.
- Distressed Properties are in High Demand.
- 60% of homebuyers are actively looking for foreclosure and bank-owned properties
- 25-30% of all residential home sales in 2010 were foreclosures or bank-owned homes.
- Nationwide, homebuyers saved an average of 30% when purchasing a foreclosure property. Short sales averaged a 19% savings; REO sales averaged over 37% savings.
in the MLS or one is with RealtyTrac. These are FREE to use. You may also enter the area or zip code and a list of homes will be returned. If you need further assistance, please give me a call.