A large portion of my business in 2008 came from representing first time home buyers and investors purchasing both short-sale and foreclosed property.  Up until recently banks were pretty firm on their prices until they were ready to make another price reduction.  I've seen banks hold on to properties for nine additional months only to sell them for what our initial offer was.  The one things which has rung true in this area for almost all banks was no seller concessions on the purchase price, but recently, some banks not only will help if it's needed with closing costs, they're advertising 3%-5% seller concessions for OWNER OCCUPIED buyers.  The banks are at a saturation point where they need to unload these properties and with an estimated 40% increase in foreclosures in 09', they're getting more aggressive with pricing, commissions, and incentives.  I understand that this may be a regional phenomena, so for those agents around the country, what are your experiences?

Joshua Matthews--Keller Williams Coastal Realty