Here’s another great example of realtor/banker ignorance.
This was listed as an REO in November for $599,900.
But the agent was from out-of-county, and inputted the listing onto the LA/OC MLS, thinking that it was the same as our San Diego MLS. They gradually lowered the price to $569,900, and on February 16th took an offer of $488,000 – all the time thinking they were giving it full exposure.
Want to guess the flipper-buyer new list price?