Yes the foreclosure inventory is decreasing. Some places in Florida and elsewhere are seeing their inventories are getting back to normal levels. However, buying REO’s (Real Estate Owned) won’t necessarily save you money and could cost you dearly. However, there are good values available. One trend that is definitely happening is that a higher percentage of homes that wind up in foreclosure are being sold to investors at auction. Previously, banks were taking back a high percentage of those properties and then selling them as REO’s. We’re not quite sure what to make of this trend yet, but it could be very favorable.
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