I talked with the Realtor, we plan on hiring to sell our house, today. She told me, starting April 1,
Bank of America will release 500-600 foreclosures each month. They have an inventory in Nevada of over 6,000 homes. She suggested we put the house up NOW, to use this month to possibly get the house in contract....
RIGHT. I am not through with my "de-cluttering" and we have not found another house...I am so weak from this miserable flu or whatever it is I have been fighting this past week...
She said if the market gets flooded again, it will drive the prices down.. The banks will list the foreclosures low, allowing the house to get into a bidding war, which will drive up the price of the house. Often, that ends up with the property going back into foreclosure AGAIN!!.
No doubt there are other banks who have inventory too, and will follow suit. I don't even want to think about the amount of foreclosures flooding the market here in Nevada!!! Will they do the same in California, or have they already released their "phantom inventory"? Our Realtor in California said she knows nothing about when they will release the inventories of foreclosed homes...she is going to investigate for me and call me back...
If might help us in getting a place in California, but not here. When I told my husband, all he could say was,
"Can't we ever catch a break?"....
