How is your local market inventories holding up?

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Permalink Reply by Paul Maxwell on October 23, 2009 at 6:17am

The charlotte REO inventory has been holding steady but not as large as one might expect. The good investment deals go quickly so you have to pay attention everyday to price changes, new listings, etc. I keep a spreadsheet of REOsthat I believe have potential. It includes estimated ARV and repair costs from which i calculatea target purchase price. When the list price comes within what I consider a negotiable range of the target price, I try to neogtiate a deal with my money or a client's.

At one point I believe the lack of inventory was the result of banks holding properties off the market. The latest explanation I've recieved is that the banks just don't have the staff to process all the foreclosures.

I foresee this as being the situation for years to come so I'd like to atart listing REOS. Any advice would be appreciated.