Is REO inventory overpriced everywhere?

[Gary Marcotte]

I am a rehabber dealing mostly with REO properties and I am having a miserable time finding deals. I am up here in New England (northern MA/southern NH) and for the past 6-8 months the prices on REO properties have increased about 30%, making the margins on these rehabs very thin. I've even resorted to HUBZU to try to find something with no success there either. The Auction frenzy has these prop's bidding up well beyond my comfort zone. Anyway, just looking for a sanity check. Any other rehabbers experiencing the same thing or do I need to adjust my numbers?