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Bank owned REO's continue to sell really fast in Northern California!!

As of 11/08, bank owned REO's are still selling like hotcakes in Northern California. Prices have dropped so low, that in many cases it makes more financial sense for people to buy these homes, than to rent. In the Northern California cities of Manteca, Lathrop, Tracy, Mountain House, Livermore, and Dublin there is a feeding frenzy when these REO's hit the market priced correctly. Many receive 6-10 written offers within a week from being listed!

The properties are being snapped up by:

  • First time buyers
  • Investors

Many investors are buying multiple properties right now. One investor, who owns a local carpet company, has bought over 30 properties within the last 6 months. Talk about a smart investor!!

For more information about the foreclosure situation in Northern California please go to my new website

http://www.tomlyonsforeclosures.com

http://www.tomlyons.com

Thanks!

Tom L

5 comments • Tom Lyons • November 10 2008 11:11AM

Comments

Stellar work there eervyone. I'll keep on reading.
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