In order to track the bank-owned inventory trends, we have followed the same four REO agents over the last couple of years.
With 7,293 properties on the NOD list, and 9,885 on the NOTS auction list in San Diego County, you’d think that the REO listing specialists would be rocking with business, right?
Here are their listings:
|March 13, 2008|
|March 9, 2009|
|March 27, 2010|
They aren’t having any trouble selling the few listings they have, you’d think that the banks would notice and push a few more through the system during the government double-cheese era. Instead, the foreclosure flood as been turned down to a trickle – they have 77% fewer REO listings today than they had two years ago. They are probably thinking about laying off staff!