Found 1 blog entry tagged as REO.

Destin Foreclosures, priced at market value, are leading the way in reducing the number of  available homes for sale in the area. 

Many buyers are anxiously looking at recent selling prices in an attempt to "guess" the market bottom. However, the first sign of  a strenghtening Destin real estate market is found by analyzing inventory trends*.

As demand fell for Destin homes in 2005, 2006, and 2007 (see chart below), inventory rose dramatically.  The primary reason for this was unrealistic sellers overpricing their homes. Buyers were looking but unwilling to pay the list price.

In late 2007, REO managers started listing foreclosures in Destin.  Often times, their list prices were more than 30% below competing homes.  Over time, traditional sellers…

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