Please tell us whether the house you are buying is bank owned and where.
It would be useful if buyers tell us that for one gets the impression that REOs are on one level and non-Reos at another.
All the price indices miss that distinction.
Some REOs really being offloaded now may be at prices that voluntary sales get to say in a year’s time and hence make more sense.
It is at least feasible that over the next year (from Sept 08) the price of voluntary sales falls faster than the price of Reos.
A tale of two markets, in places like SD, is so important to describe; and contrasts with places like Texas where there is still one market (and a rising one at that).
(PS Remember that today’s Case Shiller data relates to deals on average committed to in March/April)
