Bank Owned Homes Inventory trickling in for Spring in Phoenix, Scottsdale & the surrounding cities!

After months of keeping the “shadow inventory” off the market we’re starting to see a trickling in of bank owned/REO/Lender owned properties being released to the supply here in the greater Phoenix Scottsdale metropolitan area.  Timing is everything and it makes sense that the banks would release a hefty inventory to coincide not only with the typical seasonal Spring increase in  home buying but also because we still have until April 30th for first time home buyers to get something under contract for the 8k tax rebate.  The question remains what will this mean for the existing Short Sale inventory, many of which are homes currently under contract and are awaiting banks response to short sale approvals as well as what can we anticipate as selling strategies for short sale listings to compete with the REO inventory.  Come back tomorrow for more on this subject!