[quote=sdrealtor]As a sidebar, I have been seeing lots of REO’s and short sales that were intially listed under market closing at prices 10 to 20% above th asking price. The market speaks volumes but some folks dont care to read what the market is telling them.[/quote]
If the flippers bring up the comps, then buyers will fight for a lower priced REO and suprise, sells higher.
[quote=sdrealtor]BTW, I checked the listing on Driscoll and as a short sale it was contingent multiple times above 600K so apparaently they had no problem getting offer in that range before it went back to the bank. They just couldnt get the short sale done so it went back to the bank.
[/quote]
Yes. Why was the short sale not done? Maybe the prospective buyer re-considered the over 600k price? Maybe they had cold feet.
