The counts of local bank-owned properties are not out in the open, and people are wondering – are there loads of REOs waiting to hit the market?

Here are the SD County REOs from the tax rolls, compared to April 8, 2008:

Lender 4/8/08 Today
Deutsche
1,066
49
US Bank
726
62
BofNY
561
37
WFB
502
44
HSBC
451
30
Citi
144
25
BofA/CW
117
108
JPM Chase
90
18
Totals
3,657
373

With a county population of 3 million people, there should be adequate demand to soak up the remainding REOs once they finally hit the market.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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