Hooks Van Holm handles my region and state too.
Face it, in the post-foreclosure properties, the listing agent wants to get as high a price as possible - to get as high a commission as possible.
At some point, the only offers that come in are all lower than the listed price, and somebody working for the seller has an awakening and makes the adjustment.
Whether HUD or REO, this is what seems to happen.
As an REO listing agent said to me the other day, even the listing agent doesn't know when that will happen - but they expect that it will at some point in most cases. And the sellers of these post-foreclosure houses are still hoping that some clueless newb will pay asking to get into a deal. As long as this also happens, expect price adjustments to be somewhat unpredictable.
But stay the course, and keep making offers that will be profitable for you.