In addition to all the great answers here let's add Fair Market Value and Supply and Demand to the equation.
The seller lists the home to generate the highest and best offer.
Buyers are out shopping for value.
Homes perceived as value will generate offers and when the seller and agent have priced it correctly it may generate multiple offers.
Buyers and/or their agents who are knowledgeable in the market will have an opinion of the value of that home, and offer accordingly.
Value includes location, condition, etcâ€¦
This is true of all properties, regardless if they are bank owned, short sale, or just a regular arms length transaction.... more
The number of NOD (Notice of Default) are lower in Monte Sereno. The number of NOD's can usually predict the number of Trustee Sales that will take place.
If you are a little shy about taking your certified check to the courthouse steps, then looking in the MLS for BANK OWNED/REO properties is probably your best bet. There are several ways to find them.. quickly. One is hook up with a great agent (like myself) or in today's do-it-yourself world, you can sign up for automatic notifications by using my buyer/seller toolkit. Sign up on my website www.InteroRealEstate.com/JBateman. When setting up a search select 'Bank-Owned/Reo' in the 'additional listing info' box. Email me at jbateman@InteroRealEstate.com for assistance.... more