What to Expect with Foreclosures in 2012?

What to expect in 2012? 03 Jan 2012, BY Avi_68313

Hi Everyone! We wish you all a happy new year and a very successful 2012! So what will this year bring to the market, and how will it affect the REO inventory and industry as a whole?

National REO Statistics

1,750,000 REOs still haven't been listed
3,500,000 Mortgages are in default
15,000,000 Homes are under water

Asset Management companies are busier than ever and looking to new and creative solutions to help liquidate the assets on their books. Have you ever heard of REO Rental Management? (See Article) It's coming. There's also a good chance we'll finally see Short Sale listings being assigned in the same way the REO Industry handles their troubled assets. REO properties are moving faster than ever, with "time-on market for a move-in ready REO at just 10.1 weeks" (See Article) As a friendly reminder, be sure to keep your REO Resumes and Profiles up to date with the new year.

Rob Alley, Realtor/Owner of Virginia Real Estate Solutions at RE/MAX Assured Properties
434-220-7133
roballeyrealtor@gmail.com
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