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.Video from our friends at the South OC Tracker.
There has been a lot of talk about the declining inventories. Inventory has been declining, and sales have been increasing, but prices have also been dropping because many of the sales are REOs going at “fire sale” prices. Increasing volume and decreasing prices is not the sign of a market recovery, it is a sign of market panic. Some lenders holding these REOs are trying to clear their books while there are still buyers to be found willing to pay our still-inflated prices. However, many lenders are not, and there is much more REO inventory out there than is widely known.
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