A quick bank owned home story.
Home is priced at $170,000. (Price changed to protect the innocent.) Bank receives and rejects an offer at $155,000 about a month ago. Today, the bank reduced the price of said home to $160,000.
Moral of the story? Lenders are idiots when it comes to selling homes.
And speaking of which, I bring you this absolute gem from the brilliant Kris Berg of San Diego Castles Realty. If you’ve ever attempted to purchase a bank owned home, this ought to sound familiar. And if you haven’t, here’s a great primer.
[tags]Phoenix real estate[/tags]