REOs: An insider's view of bank-owned properties

Agents work through foreclosure market in hard-hit areas

Stockton, an inland city located in Northern California, is a hub of real estate activity -- in the worst kind of way.

For-sale signs appear to outnumber residents in some neighborhoods. The grass is overgrown and weeds spring unchecked from some vacant properties.

If there is an epicenter for the foreclosure disaster that has spread like wildfire in markets with overbuilding, declining sales and dropping home-price appreciation, it is Stockton. The foreclosure market in Stockton has drawn national and international media attention to the city, one of many across the country that have been hit hard by a swelling tide of mortgage defaults.

In this three-part special report, Inman News goes inside Stockton to take a look at how the market for foreclosed and bank-owned properties is booming, how agents are finding business and working through the tough times.

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