So..... here we are in what is touted to be the biggest year ever in REO's and we brokers in Florida are for the most part sitting here wondering where all the listings have gone???

The reasons have been given---banks being cautious with paperwork lawsuits, rampant dismissals of foreclosure summary judgements, etc etc.

If one assumes that banks can't hang around and simply wait indefinitely, then answer the magic question----when can we really expect to see inventory start moving again?

Answers and details and general insight is/are welcome.

no worry BIG O is gonna make things all better soon ...









on a serious note ... I have been wondering the same thing about FL reo inventory ..

Simple answer is "David J. Stern". He had about 140,000 case files and he is required to file a legal motion to withdraw from each of those cases. Catch 22, They took the files away from him and he has to go back and find each and every one and file a motion to remove himself.

That added to the fact that every one of those cases has to be reviewed that they are factual and correct before anything else can be done.

I am guessing 2nd or 3rd quarter before we start seeing any meaningful increase in REO here.

Best wishes.

Not sure if this was posted previously - good read about David Stern's story: http://abcnews.go.com/Business/wireStory?id=12852757