Has anyone noticed that REO’s (at least in my area) are more and more starting out on the market at tax value as opposed to what’s owed? A shift in strategy on the banks part maybe? Or is it all in my head…
Well I projected that REO properties would be at 50 cents on the dollar by Christmas. It didn’t get there but I just bought on for $85k that has an ARV of $140k. Pretty darn close.
Yeah, looking for some of those… :biggrin Trying to close in on more accurate ARV’s… the broker I am working with has a real good understanding of the market (he’s also a flipper), and he’s having trouble because people are holding out for mortgage rate cuts…
With the .75 Fed inerest rate cut, let’s see how things shake out…