In many cases, the prices they got at auction were about 5 to 20% below what the REO guy felt he could have sold them for on the open market. We went over several and he said they left 25K to 75K on the table in those cases.
My jaw is on the floor.
We must be missing numbers, did pricing drop significantly after the first few? Or is the REO guy in denial of the market? If they left 25-75K on the table, the homes profiled in another thread would have sold be selling at or above previous sales price?
