A lot of good deals get overlooked because they weren't good deals when they came on the market. Since they weren't good deals they didn't sell. They sat and sat and as they sat the sellers of these properties chased the market, lowering their price continuously but never low enough. Many of these properties get forgotten; Some have been on the market for years and nobody pays attention to them anymore. (If it has not sold in two years what can possibly be good about it?).
Some sellers maybe did not have to sell two years ago but circumstances might have changed and now they do have to sell. Don't overlook those properties! As a matter of fact most of my sales thus far this year were that kind of property.
REO's fly off the shelf when they get listed because they are priced right when coming on the market. There are other properties that are price as competitively as REOs.
If you would like a list of those properties please e-mail me to Wiebkewestedt@aol.com or call me at 305-393-0923