Third-party investors are much faster at reselling foreclosures than banks, according to the tracking firm ForeclosureRadar. It keeps close tabs on foreclosure activity in states along the country’s western seaboard, and the company says one market dynamic that’s consistent throughout the area is that investors are moving foreclosed homes at a more rapid pace than lenders who take possession of REOs. For example, California banks on average take 104 days longer to dispose of REOs than third-party investors do to resell their distressed assets.
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