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Tag Archives: ProTek

Report: High Sold-to-List Price Ratio Confirms Bidding War Activity

Last year, some analysts were speculating the large supply of REOs and shadow inventory would keep the market depressed, but instead, the market is dealing with a lack of inventory available for sale, ProTeck Valuation Services noted in its May Home Value Forecast (HVF). ""[I]n reality the shortage of housing inventory has led buyers to bid more competitively against one another leading to significant home price increases and tighter housing conditions,"" said Tom O'Grady, CEO of Pro Teck.

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Investors, Inventory Shortage Catalysts to Housing Rebound: Report

Demand for distressed properties from investors is contributing to the recovery, not creating an artificial one, according to Pro Teck's Home Value Forecast for April. One of the catalysts driving the housing market rebound has been large investment funds, which are buying distressed single-family homes to be used as rentals. ""These funds have also been renovating homes, which has helped to improve the overall conditions of the surrounding neighborhoods and provided a positive injection of capital,"" said Tom O'Grady, CEO of Pro Teck.

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Top Mortgage and Housing Execs Engage to Promote Progress

Industry leaders gathered in Las Colinas, Texas, Thursday for the Five Star Institute's 2013 REO and Short Sale Executive Summit to discuss issues and market conditions impacting the distressed asset space. A number of the nation's leading financial institutions and government agencies were represented at the event designed to facilitate open dialogue and collaboration for developing solutions to today's most pressing REO and short sale challenges.

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