MLS Deals Becoming More Competitive??

[Zach Leasure]

I'm sure investors have started to realize REOs on the MLS are becoming more competitive. At least in my area (Baltimore, MD) houses will go to market and with in a week will be sold and will have multiple offers. Even HomePath properties that are in horrible condition with a seasoning period for Owner Occupants only are being bought before investors even get a chance to submit an offer.

Just want to get people's insights, experiences, what may be causing such demand and competition and where people see the market going over the next 12 months. 

[Ned Carey]

@Zach Leasure Yes I am hearing from many investors that properties suitable for flips are tough to find. It has gotten more competitive. More new investors are coming into the market. many not knowing the hidden costs and risk. They are willing to over pay because of it. 

In addition to increase competition, the supply of REOs is dropping in MD. We have finally moved through much and the backlog. New defaults and foreclosures are dropping to historical norms.