Great information from CNN Money.
“Remember there are 800,000 REO’s in the banks’ inventories, there’ll be another home to bid on tomorrow” Rick Sharga, Spokesman for Realty Trac
I couldn’t agree with him more. Will there be a flood of properties put into the market? No, probably not, but there will be more. Buyers must know their options and the time frame these different transactions entail.
The best advice is, find a Realtor who understands the real estate market in the area you are searching for a home. If the Realtor can’t tell you market information, statistics and procedures on how to purchase in a depressed industry, go find another Realtor…
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