Some banks have a policy to price slightly above market value and reduce the price on a schedule.
Other price below value and will use the 'Highest & Best' strategy to initiate a bidding process.
Both of these practices would have been revealed in the data your agent shared with you.
Sometimes we have to lose a few before we actually get in the game and allow the data to drive the action taken.
Your purchase offer needs to be reflective of market value if the list price is too good to be true.
Prudential Results Realty
Read my blog here on Trulia on this topic: http://www.trulia.com/blog/mark_lemenager/2012/05/investor_g
Most bank owned properties in this area sell for MORE than list price, so clearly your assumption is wrong.
If you are using a realtor, why are you asking us? Don't you trust him or her?
Slow day in Fresno?
and sometimes they don't
But the Listing Agent never determines what the house will sell for.
The Bank owns the house, not the Agent.
And the LISTING PRICE, at best, might be a indication of the Selling Price:
Lately, the trend is to List it LOW, to get multiple offers:
So, don't be fooled into saying that "I offered full list price"; you may be waaaaay short.
Have your Realtor do a CMA to determine the true Market Value;
assume that the LISTING PRICE is ficticious.
Alan 407 832 4888