If the Pain Train theory has any legs, this will be the first of many but this one and the others that go big and go early will actually sell quickly. In six months there will be 20 of them languishing at 25% off. This is merely the recon unit for the pain train, train is a coming, but this isn’t it,…. yet. Scrips and other desirable areas will benefit from the pounding the banks have gotten in the I.E. and central cali in the last year. Waiting hawk will probably agree, last year many of the repos up here were priced higher than the resale and new stuff, it took them a while to figure it out an only now am I seeing them lead the downward trend. As the repos hit you, the bank’s REO guys have already learned some lessons, they will have their first 15 plays scripted when your game starts. Play #1, cut the market off at the knees, go 25% off and grab the bargain hunting pent up demand, if there’s one sale in that zip code, be it. Play #2, see play #1. Lather, rinse, repeat until you run out of sideliners at 25% or another repo goes 30%, then adjust accordingly. I swear I could totally unscrew any bank’s REO division in 5 days and get them a 10% stock bump and I am a complete idiot, then again I could probably lead the Chargers to more wins than Norv. If he blows the packer game I am calling A.J. and I am offering $100 to the Bill Cowher fund, SI’s Peter King thinks it will cost 8 million to get Cowher to coach again, I may be in for $200 if they lose by more than a field goal.
