I bought a house this week for 50% off what it sold for in 2004. Of course, its been neglected and has the typical REO property issues. But, I think 50% off peak price is something to get excited about. I missed another house in multiple offers. I offered 10% above list price, all cash non-contingent, and did not get it. Either the listing agent screwed me or someone else really wanted it.
The point is that the banks are starting to figure it out. Houses are starting to come on the market at below market prices. Most REO inventory in the last 18-24 months has been overpriced and the banks unwilling to negotiate, at least not willing to negotiate enough. Its starting to change in my area. How about yours?
The point is that the banks are starting to figure it out. Houses are starting to come on the market at below market prices. Most REO inventory in the last 18-24 months has been overpriced and the banks unwilling to negotiate, at least not willing to negotiate enough. Its starting to change in my area. How about yours?
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