Who is buying the bulk of REO's in your neighborhood?
By Terri Adams-Scott, Realtor, Walnut Creek CA Real Estate
(J. Rockcliff, REALTORS)
Who is buying the bulk of the REO (Bank Owned) properties in your neighborhood? It's very frustrating for the 1st Time home buyers when the bulk of the homes they can qualify for are going to the 'all cash' buyers...which are typically investors. I know from experience and numerous offers that the banks don't care about selling their properties for the highest possible, fair market value. They opt for the less-risk offer which is all cash. I get it...I know they want the properties off their books...but it doesn't mean I have to like it! I just wish one of the bank's incentives were based on revenue rather than just number of units sold. I say that based on my experience and opinion. One of the areas with the bulk of the REO homes for sale is located in Antioch, CA. T...
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