[quote=CA renter]There are a number of homes being sold to bulk buyers/investors. In many cases, they are getting them for 15-20% of what is owed on them.

It is totally unethical, but apparently, it is legal. FWIW, taxpayers are backing a large portion of these losses, but we’ll never hear about it in the MSM. Sickening…
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Edited to add link:

http://thearizonainvestor.com/partners-seek-bulk-reo-buys/%5B/quote%5D

Thanks for threadjacking with a totally irrelevant post. That has nothing to do with these as they were non-mls sales to individuals. Most likely related parties. Both of the higher 2011 sales were ALL CASH sales. CAR time take the tin foil hat off.