If you would like I could either help you or refer you to an agent that understands the market area you desire.
Additionally, every seller wants to sell at MARKET VALUE. If a Comparable Market Analysis on a home, or a BPO (which is built from a market analysis) shows the home is worth X-dollars, then a short sale, regular sale AND REO is going to be priced accordingly.
Find an agent who is knowledgeable in the market, we have all sold REO's. Sacto is only about 15% REO ( Sac County proper, and SFR's--figure does not include condos), about %65 Short sale, and the rest regular sales.
Sounds to me like you need a Realtor who can REALLY HELP you!
Good luck in your search, don't just limit yourself to REO's, sometimes there can be great buys in regular sales too.
The concept that REO's are cheaper is a longstanding urban myth. Sometimes they are cheaper, sometimes not. Sometimes the probate sale is cheaper, sometimes the short sale is cheaper, sometimes the traditional seller competing with distressed sellers is cheaper. Look at the entirety of the deal, not just one aspect of its origin.
The other misconception is that an agent with foreclosure experience is a rare creature. Six years ago that was the case. After five years of heavy foreclosure activity in this market the majority of active agents are well versed in the subject.
I have been a buyers agent for an REO team for 3 years. I also work with multiple banks performing BPO's (Broker Price Opinions), on a daily basis. BPO's are how foreclosing banks price homes a few weeks before they actually come on the market.
If you just have questions or need help in any way, feel free to contact me.
916 601 4728
Certified Distressed Property Expert
That being said and as an REO Broker for many years, you will find many REO Brokers are representing their clients as they are established clients. I firmly believe you are better served finding an experienced BUYERS AGENT who has experience with REO properties. Many of us REO Brokers will not "double end" a property. Anytime you are involved in a doubled ended transactions one of the sides will lose.
So I believe you are better served finding a good experience buyers agent
Best of luck
eCurb Realty Lic # 01305148
Lyon Real Estate