The dark side of my business is growing every day. The Real Estate Owned (REO) bank propery growing in numbers every day. The market is adsorbing the excess but a dear price. My data indicated that a REO property will be discounted at least 10% for under 75K 20% for 75-150K and 30% for homes over 150K. This discount over and above repairs, it is just what the buyers are offering to banks that have too many homes in stock. This is the biggest buyers market I have ever seen.
But good or bad every deal needs an appraisal which is good for my business.
Be safe, Be happy, Laugh a little and work a lot.
Dann Cann