Where are all the REOs?

I get asked all the time, where are all the bank owned properties (aka: REOs)? Unfortunately, banks knew they could recoup the bulk of their losses in California, but in other states it's not the same.

http://www.realtytrac.com/news/foreclosure-trends/infographic-where-to-expect-an-influx-of-legacy-bank-owned-inventory/

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