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

Housing Wire

More for Real Estate Enthusiasts. How to negotiate your home purchase offer. 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.

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

PennyMac

What is a Real Estate Owned (REO) Property? REO, which stands for “Real Estate Owned,” is a term applied to foreclosed properties whose ownership has transferred to the bank or lender. REO properties are attractive to homebuyers or real estate investors for several reasons.