The azcentral.com has a piece on Beth Jo Zeitzer, a Realtor who specializes in representing banks. She has about 400 lender-owned listings.
Zeitzer doesn’t think she will continue at this pace, explaining that the market is hitting its bottom, at least with entry-level homes. She expects to be dealing with smaller numbers of higher-dollar properties in the next several months. Over time, she figures to be listing mainly commercial properties, rather than slews of single-family homes.
{ 2 comments… read them below or add one }
Richard Stabile New Homes 06.24.09 at 7:43 am
That is interesting. The flow is lighting. I believe the sales volumes are way up. The commercial comment is what I believe also. Many commercial properties are losing tenants and pricing power. They also have not been able to arrange appropriate financing. I think the commercial wave will run past the residential.
mr. kekko 06.28.09 at 5:24 pm
PLEASE STOP. STOP. for the past, oh, 18-24 months the Realtors have been telling us we have hit bottom. WE HAVEN’T. the market is going to overshoot to the downside just as it overshot to the upside. waves of foreclosures remain with demand remaining constrained by job losses, depressed wages, fear of job losses, overall household wealth destruction to the tune of $11 trillion- TRILLION, tighter underwriting, lack of financing options and a general feeling that the market will continue to decline.
BEST ADVICE FOR THOSE LOOKING TO BUY: WAIT ANOTHER 18 MONTHS.