Buying from a Bank? Get Ready to Play Hardball.

If you’ve been shopping for a home lately, you’ve probably encountered more than a few listings that are either bank-owned (REO) or short sales. In some of Redfin’s markets (Las Vegas, Phoenix, and San Diego) distressed sales make up more than half of what’s selling these days:

Of course, we’re never satisfied just to bring you flashy top-ten lists (or top-sixteen lists, as the case may be), so we wanted to dig a little deeper into the data. What kinds of things could we learn about distressed sales that would really help a buyer who is thinking of making an offer on one? As it turns out, the data was happy to talk to us on that subject, providing us with some juicy insights to share with you.

For the full report visit the Redfin Research Center.

Discussion