Ah – I see what you’re saying. When it goes back to the bank before they sell it as REO, does it count as a sale comp? Good question. I read somewhere that they’re counting properties that go back to banks as a sale. I thought in some chart they did count those as sales. So if it goes back to bank and they count the comp, at what price, the original loan amount? That would be skewed if they only do the first mortgage.
