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    JewellSC's Avatar
    JewellSC Posts: 3, Reputation: 1
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    #1

    Nov 18, 2008, 12:41 PM
    condos versus single family homes
    I have an investor that wants to buy--not MLS listed or not loopnet listed--SFH 50% of value in bulk up to 10million--are condo's SFH'S? And what is REO?
    jimmynoble12's Avatar
    jimmynoble12 Posts: 13, Reputation: 2
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    #2

    Nov 24, 2008, 10:55 PM

    REO is real estate owner=forclosed home (the bank owns it)

    Here is the reality. I often times find investors who want to purchase for .50 on the dollar but the reality is that a seller could sell for more. I know, I know, he is looking for someone desperate. The reality is that the "desperate" people are the ones who seem to be holding out for the most money and often times are looking to get a higher price than what they want. Instead they try and make the price themselves and languish on the market. Have an agent pull properties and show the list to sales price and you will notice that there in probably not a 50% difference in the two. My market here in Maryland, Baltimore County to be specific sells for plus or minus 5% of sales price!
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