I don't believe there will be a flood of REO's hitting the market...right now it's a trickle, and i think it will remain so for quite some time.
While I understand why you think you want the flood to hit, please remember the last one...it blew alot of escrows apart because the values went down approximately 10% ON AVERAGE in just ONE MONTH here in the Antelope Valley. Just sit and consider that for a moment, and then think about all your listings and your escrows... you will quickly realize that you really DON'T want that to happen (again).
I think what we really want is for the supply to come even with the demand, which would make it tons easier for us to find a decent home for our non-cash/FHA/VA buyers! That's all I want...I am so tired of writing great offers for worthy homebuyers over, and over, and over again, just to be beat out again and again....and again.
One thing I can certainly tell you is that the banks have all stepped up their foreclosures, so the tide is beginning to turn.
Michele M. Hunt, GRI, CRS, SFR, CDRS
1998 REALTOR of the Year
Realty Executives Platinum