Why many REOs aren’t selling

Mood of the Market

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I'm a real estate broker and attorney. I put myself through grad school, in part, as a probation officer. So, guess which career made me start carrying a vat of hand sanitizer in my car? It sure wasn't working with criminals! As the number of REOs on the market has steadily increased, so has the amount of sheer filth my clients and I encounter on a daily basis. In fact, most of my clients have developed a bizarre (but sensible) Pavlovian response: When my thumb presses the little doors that slide open the middle console in my car, they hold up their open palms to receive their ration of alcohol gel. And it's not just our hands that get contaminated. The other day I had to phone home to my husband to ask if he was aware of any way one could scrub lingering foul odors out of one's lungs. (He wasn't.) Showing bank-owned properties (aka REOs, for "real estate owned" by the bank) reminds me of that reality show, "Clean House." The host is an ebullient, Sout...