Central Valley REOs (Real Estate Owned) have become a very hot topic of late and with good reason. Central Valley REOs and Central Valley short sales continue to dominate the Central Valley Real Estate Market. If you don’t know what a REO is or how they differ from a traditional listing, it can be a very frustrating. The amount of the bank loss has very little to do with the list price. Homes sell for what the market will bear…Fair Market Value. Very rarely do the banks accept an offer less that 97% of list within the first 30 days of the REO (foreclosure property) coming on the market. After 30 days on the market and no activity, the asset manager may approve a reduction to the list price. Keep in mind every lender and asset manager is different!
Homes-In-NorCal.com agents understand the Central Valley distressed home market. Whether you are buying or selling a Central Valley REO or Central Valley short sale we can help! Call us at 209.471.6516.