Lately the Countrywide foreclosures that have been coming my way have been listed below my BPO (broker price opinion). It was reflected on my latest scorecard too, I got dinged 20% because I was selling them too high – my REO closed sales last quarter were 107% over BPOs. 

But Bank of America changed the name last week, did they change the pricing strategy too?  Or are prices going up in Oceanside? 

The sold comps I used on my BPO were $371,000, $390,000, and $390,000. 

But the active comps were $299,000, $360,000, and $367,777, and all six were the same or similar models in the same tract as the subject property.

My BPO was $369,900, figuring that they’d consider the active listings too, and keep with their aggressive pricing of late.

Instead, it listed for $394,800.  There is already an offer in too, very close.

Here’s the youtube tour:

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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