April 24, 2009

P.S.: Foreclosure Feeding Frenzies

(More) Market Manipulation?In my last post, “Banks Price Low to Elicit Multiple Offers,” I discussed the increasingly popular tactic of foreclosure Sellers pricing low to precipitate bidding wars. What I left out was the identity of the banks who appear to be behind many of them: notorious, sub-prime lenders such as Countrywide and Indymac. Just...
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Foreclosure Feeding Frenzies

Banks Price Low to Elicit Multiple Offers Real-estate brokers say multiple offers on certain homes have recently become more common in parts of California and Arizona and the Washington, D.C., and Minneapolis-St. Paul metropolitan areas. . . Brokers say banks appear to be deliberately setting asking prices low in some cases to provoke bidding battles...
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