Buying a bank owned home or distressed property can offer the opportunity to buy the house under market value."]
——————————-
In normal times, buying bank owned would mean you were buying under market value because bank owned was more anomalous. However, if there are 20-30 properties in some stage of foreclosure within a quarter mile radius, I’d be dubious to call that an anomaly. With that volume of distressed real estate I’d say that would likely be the market, therefore the distressed price would be the market price.

I’m not saying it’s a bad opportunity, I just don’t think you’re buying an instant upside.