In Nevada, 1 in 146 homes is in foreclosure. In California, it is 1 in 204. The national average is 1 in (just over) 500. The attendance at the big foreclosure auctions has declined from 5 attendees per property to under 2 attendees per. So just as the REO wave is rising, interest is waning.
A message to all the REO Brokers out there. The way you are doing business is broken. Playing hard to get, and abusing the other agents and investors, is going to come back to bite you. This is not the mid '90s. The #$%^ is going to hit the fan. Eat your wheaties and get ready to deal. Be proactive and adopt the mindset of the investor. The bank is your enemy - not the investor.
