According to the article, "Southern California sales shot up by an unprecedented 65% last month from the
dismal record lows of a year ago." It also references that REO or Bank Owned properties for sales make
up approximately half of the 20,497 new and resale and condos that have sold since September of 2007.
At our brokerage, we are definitely seeing the rewards of this trends and we mirror the reported So Cal
stats with a considerable portion of our pending and closed sales coming from Bank Owned homes.
Moreover, the trending is really helping our agents have meaningful conversations with current sellers
about pricing strategies that can either help them enter the market with gusto or stay on the sidelines until
the market rebounds.