Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
I realize this question is vague. In SW Florida, houses that don't have major issues such as Chinese drywall appear to be priced about 10-15% below average retail asking prices. There is little margin for investors due to inflated prices. What are typical SFR REO prices discounted in various parts of the country?
Involved In Real Estate · Hyattsville , MD · Member since 2011 · 298 posts · 256 votes
12y
I'm in MD about 10 minutes outside of DC and it depends on the condition. If its bad then you can get a good discount maybe about 10-30% below market but if its even half way decent not live able but decent then its above market. Fannie mae lately has been pricing stuff way above market and just dropping as time goes on- A house I'm looking at 200 days later is still over market value for the condition.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
12y
Aaahh, yes I do remember waay back. When the winning bid was a discount percent off the asking. LOL It's now double digits percent over the ask and yes it's nearly fully fixed retail.
Do a yellow letter campaign to vacants, divorce, probate, code enforcement, late tax payers. Get the deal before it hits MLS or the steps to REO. 2014 will be alot of out bound marketing and taking alot of cell phone calls looking for deals.