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Homes are selling well over listing prices as buyers compete against each other

Housing Wire

Mimi Foster, a real estate agent, told MarketWatch the home was like “walking into a crime scene.”. She received multiple cash offers that were well over the asking price. Low-inventory is partly to blame. Due to low inventory, buyers don’t have a lot of options when it comes to purchasing a home.

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The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

REO properties are attractive to homebuyers or real estate investors for several reasons. In many cases, lenders are motivated sellers who do not want to sit on their REO inventory, and (depending on the bank’s history with the property) these homes may be priced at a discount. 10 Steps to Buying REO Properties.