SPDR S&P 500 (SPY)

[learningboutinv]

OT - RE, Foot, I am just curious about the bank owned homes.

So the Banks say they want to sell a property let's say 3 br/2ba for $190K to get it off their books. What are you seeing on average in terms of buyers asking price? Are they low-balling and saying $160-170K from the REO? In terms of percentage are the sales closing at 10-15% less Bank asking price?

What are the current buyer's thoughts? ie- We think the banks are desperate so let's low ball or give 10% less asking? or we think there is a bottom and there are multiple bids so let's bid higher than the bank's asking price to ensure we get the house.

TIA.