Fair enough SD>
However, I am up close and personal with lots of REOs in my neighborhood.

I would say 9 times out of 10 the properties are trashed out and re-keyed within 2 weeks.

Usually they are back on the market within 2 weeks after that.

There are exceptions but they are rare.

I live in an area with LOTS of reos.

To me this delay can be accounted for just by administrative process.

Are you seeing something different?