The Blog of661 HOME SEARCH

REO’s are they Back?

So in the past month I have seen REO’s come back into the market place. For the past 8 yrs I have had a great relationship with Provident Savings Bank. 3 weeks ago they assigned me an REO in Santa Clarita we listed it and sold it in 1 day with multiple offers. I was just told by the VP of Provident that they have 4 more listings for me in Ventura,San Fernando and SCV this is great news for our company. So yes the REO market is going to get active and the reason being is that loan modifications are coming due and banks are not willing to negotiate with the sellers a rate mod again and now that homes have equity the banks are taking them back and selling them. Any questions about homes that I might have before they hit the market please contact me.