It isn’t often I look at the comments below a story of mine on Kansas.com and say or think anything printable, but today’s an exception.
J.P. Weigand & Sons, the 800-pound gorilla of Wichita residential real estate, announced the formation of an REO today, a misplaced acronym that actually means “foreclosed properties division.” It should be a real “uh-oh” moment for anyone who follows the Wichita housing market.
Two key points emerge from the announcement: There’s already enough home foreclosure business to warrant the formation of a foreclosure division, Weigand officials said. And they’re preparing for more.
An alert and astute reader’s response: “This is sure a sign of the times.”