Real Estate Owned Foreclosures - Pricing

[Tyler Standish]

Hi,

I am new to the real estate investing world and am trying to learn as much as possible before making an offer. I have read conflicting information on the deals you can get on REO foreclosed properties. In some instances, I have read that banks are desperate to get rid of these homes (especially those that have been on the market for 3 months or more) and would be willing to take offers as low as 70-80% of the list price. Other things I have read said this is simply not true, and REO foreclosures often sell for more than the list price. Can anyone who does this type of real estate investing give me some ideas as to what is typical in these situations?

Thanks!