Valleywide, 18 percent of the 676 properties foreclosed on last month were purchased by third-party buyers “” typically investors “” while lenders took back 82 percent
I don’t follow foreclosures but 82%… Wow!
What are the banks going to do with all those properties?
It tells me you’ll have a great selection if you want to buy a bank owned property (REO).
It tells me banks should be more flexible about accepting short sales.