With the kind of pricing I’ve seen with the REO on the MLS, I don’t think they’re that motivated to sell. Some of them have been on the market for a very long time too. So far, it seems like only the builders have taken the initiative to move inventory. We’ll see if the bank will be more willing to move inventory after the ARM readjustments in the next 18 months. At this point, REO is just as wishful in pricing as some sellers.
Oh, and since I’m looking to buy in MM, I’m glad MM made it to the top 500 foreclosure zip code. :-D.
