HUD homes for sale in Coweta County Georgia are becoming more scarce with each passing day.
And while at first that seems like good news, it really has me thinking that there is foul play afoot,
Because the number of foreclosures has not abated one has to wonder if the so called “shadow inventory” is growing as fast as the National Debt.
Is this a Keynesian attempt at market stabilization or is the motivation purely political? Either way there is trouble looming ahead when these houses are finally released into an already tenuous market.
My preference would be to sell them as soon as they can be sold. Otherwise they will simply be stripped by vandals and left to decay into oblivion.
If that is the intent of the powers that be may I offer this admonition?
Let the houses go!
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I agree Richard, the sooner we can get all the distressed properties sold the sooner we can begin to move toward a more stable or "normal" market.
Richard, Considering we see about 20-25 foreclosures per week in our county, we SHOULD see more lender owned listings, yet typically there are only about 80 per snapshot in the MLS. They're out there somewhere, because I don't think they're selling them that fast.
HUD is pushing for the first look sales to the non-profit organizations that were awarded the Neighborhood Stabilisation grants. Also even with the current inventory there are title issues, so maybe they are also waiting for those issues to be resovled.
It does appear the REOs are coming onto the market at a slower pace and looking at their pricing the banks are trying to increase their bottom line calling it an attempt to stabilize the market.
I'm with you Richard let the houses go and get them sold.
Hi Richard! Get them out there and get them gone!
I haven't seen as much activity on HUD REO's lately. The inventory is definitely there to be listed.
Well, if the shortage stays there, prices will start to creep up. That is a must in our market. I know of several who need to re-fi but the house will not appraise. If we get those prices back up, there will be less people walking away and less HUD's coming up.
Richard, we don't need games. Interesting, we don't have many here, and I mean very few... and they are showing up a bit more now. Perhaps they came up here for a bit?
Vandalized homes are of no value... to anyone..
Hopefully there will not be a huge amount hit all at once and the trickle on and purchase quickly momentum will remain so the inventory remains low.
I am thinking it is a bit intentional. But is it good policy? Probably not. I believe in letting the market forces play out.
Richard ... I Understand ... one would think! Yet ... In Northern Nevada we are seeing the number of foreclosures decrease and the prices are starting to hold! Yeah! I think!
I guess your Spidy senses are working again! Keep us posted!