2Jul/080
Quick 5 minute Housing Update
RealtyTrac is rather lame. A lot of the information is out of date or just not correct. A lot of problems with some property that have no data and no additional information. It looks like a lot of things disappear quickly.
REOs are hard to buy occasionally, especially if the bank is greedy (which they are) and doesn't know what they're doing (which they don't). I bid on a property, rather low ($100k less than the bank got it for) but it needed some serious work before it would be considered move-in ready. A very similar house sold a few houses down for 20k more than I offered for this property a few months ago and it didn't really need any work at all! Its also been on the market for 60+ days!