They have to do something, right?
As servicers receive more and more REOs, they have to be discussing their options:
1. Use the trustee sales as a primary liquidation channel to off-load more properties quickly, cheaply, and without recourse.
2. List the habitable properties with realtors, and sell for retail.
3. Sell the fixers at auctions.
4. Bulk Sales.
They have to be encouraged about the tax-credit extension, and dozens of bidders at trustee sales around the country. They have to be loading up the truck, and thinking they should take advantage over the next six months.
I think buyers will flock to any well-priced new listing, but take particular interest in stealing one from the bank. You can probably expect that options 2 & 3 above will be very active channels of re-distribution.
But if they get to the point where they really want to off some property, doing it at the court house steps is very handy.
Let’s be there to take advantage: