If it’s priced right, it moves. It’s as simple as that. I mentioned this previously, but I made an all-cash bid on a foreclosed condo downtown (that looked clearly mispriced) a couple of months back and I was one of 18 offers (I lost). I believe it closed at 12% above list, all cash (I got a little too cute with my bid). REOs of all stripes and at all price points are flying off the shelves… largely because they’re priced competitively (even when they’re not a “steal”).
