I wish I had a nickel for every time that I’m asked “do you think we’ve hit the bottom”. If you have a real estate license then I’m sure you’ve also been asked to look into your crystal ball and predict the future. I’ve learned many years ago that instead of making predictions, it’s always best to relay the most up to date information and let the client decide.
So what’s the latest trend? In managing one of the largest offices with some of the top REO teams, I have a unique advantage of seeing the day to day foreclosure market under a microscope so to speak. What I’m seeing more and more of is multiple offers on REO properties. Add this to the announcement made a few days ago by a VP with Countrywide that they have 17% less product coming on the market this month than the last few months and there are now currently over 4,000 Las Vegas properties in escrow.
What does this tell me? I see this as one of the first signs that investors and buyers are taking advantage of the the tremendous opportunities of value that is out there. In fact I believe this so strongly that not only am I personally making offers on some amazing REO homes but I would suggest that you gather your friends and family together, look at the investment opportunities and see if they’re right for you.
