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

Housing Wire

In Seattle, a buyer offered $400,000 over the home’s $725,000 listing price without even seeing the home. Not to mention, they waived contingencies on their home offer. A Realtor in Colorado Springs made headlines this year when she listed a rundown home for $592,000. Low-inventory is partly to blame. But guess what?

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

PennyMac

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. Real estate agent: A real estate agent will be able to find REO offerings from multiple lenders in your desired area.