Let’s designate a series of homes to watch so we can identify if there’s a significant leg down in the works, or just a bumpy ride through tract-ville. Using newer tract homes for markers is the easiest way to gauge the trend, because of their similar nature.
In the video below, you’ll see that there’s a 4,225sf REO coming to market, and the last two model-match sales were significantly higher than the opening bid – but both had $200,000 in upgrades, according to the MLS remarks. If the REO is priced way under, will buyers come running? If they don’t, it’ll look like a leg down just based on price only, but as you’ll see from the exterior, its sale could be hampered by the “features”: