DWCAP I posted about that contact. Groups of investors pool money together to purchase bulk REO properties at STEEP discounts. What they do with the properties, (whether they resell immediately as is, or fix them and resell, or rent them out) is up to them. However I do not see the lenders giving in (at least in this case) to the discount requested by the buying group, (again in this particular instance).
Anyways I do not agree with that speculation that realtors are hording properties. Now are flippers still alive? Yep they are. One purchased a property on Reisling near my home, and fixed it up and it is already on the market for close to 200k more then what they bought it for. As far as hording though, I don’t see it although it seems there has been alot more pending/sold activity as lenders are pricing a bit more aggressively and shorts are getting processed and accepted a bit more readily.
