My guess is the banks have to start pondering these ideas of a larger bulk sales due to the fact that the holding costs including property taxes, maintenance (I am told there are some cities that are making banks keep up on landscaping), mello roos and of course the commissions paid out to agents. It seems as though the banks just can’t afford to watch these homes continue to sit on a market with few buyers.
I just think it is a matter of time before we hear of some type of larger transaction that may actually change the shape of the real estate market. The banks just can’t continue to sit with this inventory because it just doesn’t make sense.
