Average amount of time REO's are listed in your market?

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Thanks for any input. The impression I have, based on the posts is that you need to move quickly in many areas. Locally I am finding REO's that have been listed 12 to24 mos pretty easily. There were almost 800 foreclosure filings in August within 45 minutes of where I live. My initial impression is that BPO's are high. I am obviously biased looking at this as an investor. However, topshelf homes are being sold at losses. Real Estate inventory is at record highs. I just don't want to pay too much for an REO + Rehab and sit on it. To do this profitably I need to come to market with a nice property that is competing with great prices and inventory. The only way I see to do this is with offers 50 to 75% BPO. I don't want to be a dink but I dont want to end up a chump either. Is my thinking way off. I've read not to send info about property rehab and market conditions. Send clean offers. Makes sense. Is there anyone sending aggressive offers as a percentage to BPO and finding success. I'm willing to offer and wait reoffer and wait etc...