Great Real Estate Question of the week - why are lenders just dribbling foreclosed properties on the market?

Question of the week:  "

With so many homes in foreclosure, why are lenders just dribbling foreclosed properties on the market?

Answer: 

Lenders are uneasy about dumping large numbers of discounted properties on the market because they're worried about dragging down prices and lowering the value of the houses they still have on the books. It's more prudent to dribble the listings out. But that's not the only reason that so many foreclosed homes have yet to hit the market. For one thing, lenders are often repossessing properties that need repairs and have title issues that will take time to address. In addition, states often have eviction laws that require them to give tenants 30 to 90 days to move out.

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Keller Williams Realty

651-702-4000

email:  larry@larryeberhard.com