Finamore foreclosure sold!

The bank-owned Phoenix that went on the market 32 days ago at $279,900 had just the result I thought it would...it had mutiple offers...the bank called for "highest and best" and it sold for well over asking price and with the best terms: $327,512 cash.

Generally the banks have been following this strategy lately in marketing their inventory: Price agressively...obtain multiple offers in a short time...create a biding war...sell it fast, above asking and with a contract that contains a good combination of price and terms. Todays sellers may want to consider this strategy.