It’s being broadcasted in the news “There will be another wave of foreclosures” but the truth of the matter is the “Tsunami” of foreclosures might never hit us.

With consumer confidence up, and REO or Bank owned homes selling in a day or sometimes in a matter of hours…The banks and government cannot afford to flood the market with Bank Owned homes.

In some areas of Southern California, the current inventory of homes has decreased from an outrageous 25 month supply to a low 2.2 month supply making a lot of areas a Normal Market!

REO Homes are receiving multiple offers (5-25 offers per home) and if the home is priced under $100,000 there could be up to 40 offers or more and many buyers are funding the deal “All Cash.”

The banks and the government have learned that putting homes in smaller bundles causes demand!

The question is: What will happen with the enormous amount of inventory they have on hold?

Well, some banks have decided to sell them in smaller bundles to create demand and higher prices.

Other banks have decided to hold onto their inventory and rent them out for a couple of years until they are worth more.

And, other banks are selling to large hedge funds which are buying huge blocks of properties which they are renting out. Their plans are to hold the properties for 3-5 years and then sell them a higher price down the line when the prices go up.

In conclusion, Banks are finding ways to avoid greater losses. Traditionally, growth and movement in the economy have been generated by the growth in home sales. Let’s stimulate the economy and start buying the few bulk of bank owned homes they are putting in the market.

This might be your last chance to secure an inexpensive Bank Owned home with the best terms available in years.

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