when an REO is listed at one price, dropped and dropped, then relisted higher than last price drop

[Christina R.]

REO on market for 170 days +. The price has been incrementally dropped. Now there is a status change with the price higher than the last price drop by about 10K. Is this the bank's call to increase and why would they when clearly no one is buying it at the price it was last listed at?

thnx!

[Aaron Montague]

@Christina R. 

The bank owns it, so they can set whatever price they'd like.  Banks + Real Estate = weird combo and strange behavior.

What was the status change?

Keep hounding them with the price you are willing to pay for the place and they'll either come around, or they won't.  I wouldn't waste too much time second guessing their price strategy.

That could actually be a fun game here on BP: What was the bank thinking!! @Brandon Turner ...