I have been really surprised about how competitive the foreclosure market has been. The last two weekends I have seen houses that I liked that were listed on a Thursday or Friday and then the next Monday they had multiple offers that they were taking to the bank. Probably one or two of those was more then the asking price as well.
These houses haven’t been in perfect condition either, the one I liked from this weekend would have required the carpet in the entire house to be replaced and some of the others would have required the kitchen to be redone. Going into the process I was expecting to be able to take my time with a decision and maybe offer less then the asking price but it looks like that is not going to happen unless it is a place that needs a lot of work.