In the past two weeks I have seen a dramatic uptick in the number of BPO orders. A BPO is a broker price opinion. A third party contracts them out to local agents on behalf of lenders that are negotiating a short sale or marketing a foreclosure.
There has been a severe drought of BPO requests over the previous 8 months. However, I have received more requests in the past 2 weeks than the rest of 2009. This is telling me that there are more foreclosures coming and possibly some good deals too.
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