1 to 2 in 10 listings in the MLS are bank repos. The assault of reposessed homes continues to flood the market and make the resale market tough for traditional owner/sellers. Short sale offerings now account for 1 in 5 mls listings. Bank repos and shortsales combined account for more than 30% of the market offerings. More are coming. More than 500 reposessed homes were auctioned in the past 2 weeks. No numbers on the total homes sold, but many of these homes will return to the market to compete. They will undoubtedly re-enter the market at lowered prices creating further pressure on already declining prices. Chew on this, roughly 1 in 2 homes on the market are vacant with motivated investors, builders or institutional sellers. With every offer, Sellers need to consider this in their responses...greedy or grateful?