How Much Of An REO Discount Can You Get?

When searching for an REO, many buyers have an expectation of receiving a price discount of as much as 40 percent. But while REOs may be up to 40 percent cheaper than what the last owner paid for it, few banks are willing to shave that much off their asking price.  If you’re hoping to get a deeper discount on an REO, you need to understand that there are several factors that come into play before a bank will even consider reducing their price:
Read more

Housing as a Driver of the US Economy [Video]

The Bipartisan Policy Center published a graphic this week showing how far housing is falling and the impact it has on the U.S. economy. BPC is a Washington think tank founded by four former senators, including Bob Dole. Analysts there organized data from the Bureau of Economic Analysis and Robert Charles Lesser & Co., a real estate data firm.
Read more