Lots of Houses For Sale in Area

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Hey BP,

I'm thinking about submitting an offer on an REO property.

The price was just reduced today fairly dramatically.

I took a look at the property and it seems to be a good candidate.

My only concern is there are a large number of homes for sale in the area (particularly fsbo).

I checked to see if the school district had recently changed or a spike in crime had occurred. Neither seem to have happened. 

Should I be concerned?

Thanks,

Patrick