June 17, 2011
Recently I’ve noticed a trend with bank-owned listings. It seems the listing agents are pricing their foreclosures way lower than the bank would ever accept in order to cause a feeding frenzy to ensue.
I liken it to chumming to attract sharks or larger fish. Once the sharks or home buyers and investors have arrived on the scene the biggest shark or buyer with the highest bid wins.
June 5, 2011