The Countrywide Foreclosures Blog keeps a running tally of the amount of repossessed or REO (Real Estate Owned) properties Countrywide has for sale on their website.
Right now Countrywide has over 15,000 properties for sale. REOs happen when the lender tries to sell the property at auction and fails. Sort of a “worst case scenario” type of thing both for the lender and for the neighborhood.
15,000 is, well, quite a few.
REOs Offered For Sale On Countrywide’s Website [Countrywide Foreclosure Blog]
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@yesteryear: The problem with that is, then you have a nice house, but you’re in Arkansas.
/ducks
um, i was kidding. i live in the bay area – the best place on earth! yes, i pay 850 for a one bedroom apartment (which is a steal), but i’m 10 minutes from the best city west of NY. no offense, arkansas… ive heard little rock is beautiful this time of year.
@yesteryear: SF is lovely, but I’m glad to be back in Oregon. I make the same amount of money and I can actually afford to own/buy a house now. I’d love to be back in Portland, but I also love the job I have now, so I won’t be moving any time soon.