Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.
I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.
