Could be Perry… One thing I found was that many of the REO properties out there were simply not priced aggressively. I also noticed that when I looked up what the home went for at auction, it was evident that the lender was trying to sell the home on the MLS at a higher price.
I am sure we will see many more of these auctions like we saw a few weeks ago. Based on some of the posts that we saw after the first auction, it seems like there was alot of buying activity. I am not sure that people were getting the deals that they thought they were getting.
It will be interesting to see what will happen when the lenders finally start pricing the REO properties to really sell.
