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: