There is a clamoring for “deals”.
Over the last twelve weeks there have been 785 trustee sales where a bidder purchased the property, rather than it go “back-to-bene”.
There were probably a few of the 785 that were bought by an owner-user, but we can probably guess that more than 700 were bought to flip:
Trustee-Sale Results, last 12 weeks:
A whopping 23% of the trustee sales over the last 12 weeks resulted in a 3rd party buy.
The chances of “stealing one” must be greatly diminished by the increased competition between bidders. Will the banks/servicers take notice, and trustee sales become a primary liquidation spot? They should unload more at the court house steps with that much action – we’ll keep an eye out!