Just heard from a friend of mine through Google+ who spoke with a friend who handles BPOs (broker price opinions) for lenders getting ready to list bank-owned properties. Apparently, the phone started ringing off the hook yesterday which meshes with what I was hearing from my former brokerage as well about a sudden surge in BPO requests.
There are a lot of things that can go sideways from the time a bank orders a BPO to the time a foreclosed home appears on the market, but it’s hard to view the phones starting to ring again as anything but a good thing.
Well, unless you’re a seller whose got equity in his property and you’ve been waffling about what to do.
In general, you’re going to get more money for your home when there are 8,100 detached homes in the market in Maricopa County than when there are 13,000. Might want to accelerate your time frames a little bit in that case.