About a month ago (June 14th) we featured a video of REOs not on the open market yet:

http://www.youtube.com/watch?v=sEb3TtG7DDs ^[1]

They had been foreclosed earlier in the year, and that tour revealed a few reasons why they had not hit the market yet – still occupied, work being done, etc.

A month later, only one of them has listed, the first RSF house pictured, for $1.32 million.

Here is the second installment in the series, a youtube video tour of bank-owned houses in the prime North San Diego County coastal region:

The banks aren’t sitting on a lot of McMansion-type REOs in the region, but it’ll probably just be a matter of time before these tours get longer (#3 is in the queue). Note how many of these are occupied – the occupants are slow to give up hope.