With today's number of REOs rizing reaching record numbers, it is no surprise that they add to the crisis in the real estate business.  Banks try to "dump" their properties as soon as possible as they are not in the business of owning and managing properties.  Every time an REO sells, it drives down the prices in the area as they are based on comps that now include an artificially deflated price on a property the bank wants to get rid of.  That's the bad news.

The good news is that prices are coming down to levels where FTHBs can afford homes again.  The frenzy from the last couple of years had priced most FTHBs out of the market.

Check out overviews of all Bank Owned Properties on http://allbankownedproperties.com/