The mid-range market isn’t getting much help from defaulted properties – here’s a look at last month’s foreclosure notices sorted by home size and their estimated value:
Jim Klinge
Klinge Realty Group
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Maybe banks will rush out distressed properties if they see a dip coming?
@Thaylor Harmor
Rather unlikely.
Banks can finance their inventory near 0% with the Fed. As long their other costs of holding on distressed properties are under control or they can stick the bill onto somebody else (stalled foreclosures), their total costs of carry are very low and likely to remain so for a few more years.
They have very little incentive to rush properties to the market.