4plex, My error, It doesn’t say either way. I picked that one because it was the lowest price per square of the three I was debating about posting, but they were all huge drops. The other two clearly stated bank owned and now I realize that this one doesn’t say. While you can’t trust zillow/redfin sale history, the fact that they show it didn’t change hands recently probably means it isnt a repo.
As pizzaman mentioned, we are seeing chunks taken off by banks and builders, the race to the bottom has begun. Will it close for 329K, if it’s not a short it will close under that. If I didn’t hate that lot I’d load my lowball cannon and fire off a 275k offer. Pizza you are right, the screaming 20-30% off deals that pop up for a few days are actually selling. Perhaps the rest will realize that huge price drops actually work.
The whole situation feels like the battle scene in a war movie where the men can see the enemy charge but are being told to hold their fire until they can see the whites of their eyes, for some reason, right now it feels like we can see the charge we just need to wait for the right shot.
