My area i focus on the pre-foreclosures.Right now there is only about 35 properties foreclosure in my county mls.In my area everyone gobbles up the properties in default buying the equity rich homes or short selling them out.The the scraps are bought at auction.What is left in reo is dog properties that need a ton of work or the bank is unrealistic on value for the properties condition and it sits forever with the bank reducing a few thousand at a time.

This is why i don't do the reo foreclosure lists to buyers anymore.Most of the properties don't meet there criteria and the underpriced ones are sold in a few days before the investor can see them.This is why i like pre-foreclosure most don't know about them yet and i can shop them to my investors and sell them fast.

I was just wondering how everyone elses market looks and operates.

Large increase in trustee sale notices in the seven counties around me. About half actually seem to go to the courthouse steps, but I have no data on the other half. Some are real dogs, but most are just average houses that sell fairly quickly once the banks get them to market(okay, my REO average is 84 days, the area average on all RE is 180+). I'd loveto sell pre-foreclosure, but I don't have the time or help to keep up with all the up-and-comings.