The banks don’t adjust their pricing much for houses with upgrades – the agents and appraisers are moving quickly and don’t look too hard at how the comps really compare.

But do buyers look any closer?

Those who are paying close attention can pick off an occasional REO ^[1] that is priced with the rest, but has new carpet/paint and another $20,000+ in upgrades – plus peek ocean view on a culdesac!