Along with the previous two posters, I can add some more:
1. In this market condition, focus on REOs
2. Don’t hire a buyer’s agent. If you need a buyer’s agent, you haven’t done the home work – you are not ready to buy.
3. You get the best deals in REO by using the listing agent to represent you as buyer & cash or high down payment offer. The deal you get improves with cash (I know cases where REO sellers didn’t really care about purchase price offered as long as it was all cash)
