With the concentration of foreclosed, REO, Bank owned properties, one chances are pretty good to have sold a foreclosure in today's market. Currently I am working with 5 distressed sales situation. Would you be interested in purchasing a foreclosed home?
The market has been slow leading up to the holidays due to Federal changes in policy. IE not many foreclosures. This will probably change in the new year. But there is no promises that any change will happed fast.
A few... average closing time seems to becoming shorter and more streamlined as Lenders try to sell backlogged empty homes. I prefer to work with Forclosures rather than short sales as they don't take as long and one is dealing with only a few parties. In the FWB area the market has about 5 months of inventory... some consider anything less than 6 months is approaching a 'sellers market'. Certainly we have seen one of the best Spring seasons in awhile although official stats are not in yet and I'll post them when they are. Meanwhile as you may know mortgage rates are as low as they have ever been so its a great time to be buying.