I think in a competitive market this is a must but given we're new construction and there's no other inventory in the area, I don't see it holding us back.....at this point we really want to unload it so we can move on so we're contemplating either getting a realtor to take it on, lowering the price, or both.....I think the main draw of a realtor is to be a great salesman and sell someone on the property who's not fully committed, but at the same time I'm not sure how effective they're going to be......lowering the price is another option but if we drop it to 259 do you think that will change anything?

Hi @Mike D'Arrigo -I live in the Austin area, but think the markets are potentially better for newbies outside of this very competitive city.  

This house has a lot of competitions for it and I believe it will sell in a few days.

The market is here in the Boston area is quiet competitive.

@Matthew Irish-Jones are you saying buy in cash because its been competitive lately ?

If it's not for several weeks or months, some of your competition may lose interest. 

Competitive, but great market.

You can offer to lend the seller money to stop the foreclosures. 7 or do a lease with an option to buy - making up the back payments that would be considered you advance lease payment.Always look at the property if you have intentions of bidding at the auction (this can be tricky because you need to do that with the owner's permission - do try to build a rapport with seller  - also look at the foreclosure suit to find out what the bank is looking for and if there is a second mortgage or other liens.At the court house steps when the auction take place you need to be well prepared with your certified funds but more importantly you need to know the fast sale value of the property - you don't want to pay retail.Get to know your competition - there will be professionals at the foreclosure auction looking to capture some serious equity.

Long answer is if that you're new to this, know that chasing foreclosures is starting off in the more competitive end of the market.

There are some places around Olympia that deals can still be found, though properties found on the MLS can be rather competitive.