I realize getting a full scope of the foreclosure market is not as simple as inventory being up or down. However, what I've seen from people I work with is larger, regular buyers at the Texas Tuesday auction ending up with less than expected inventory. This has happened the last two months from what I've heard.
Im not too savvy on the auction but know some reliable people over there. Anyone else have a perspective or opinion on this? If it's true I'd like to get an idea of why people think its happening.
Is it less inventory, more competition, smaller profit margins? All of the above?
Houston market specifically.
Some feedback would be appreciated
I'm also interesting hearing what the majority has to say. In my county (population 220K+), their were 22 newly listed pre-foreclosures in the past week. Their are very likely 22+ REI's in my county so I'd say the pickings are slim and competitive.. This certainly wouldn't speak for the Houston market though.
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when I first started looking at foreclosures last year the montgomery county list started with around 100 to 150. This month is at 117ish. Seams like the normal range. The only people I see continously over bidding are American homes for rent and random newbies going for that one house that get bid up.
The hardest part is finding a house that has equity that makes it to the auction. A lot of the properties start off with slim margins and no one bids on them.
I'm seeing more homes for sale and more houses for rent than last year.
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