The bank REO department is full of clowns.

[Amy A.]

For years I've been trying to figure out the pricing strategy of banks.  Will they reduce the price 5% per week?  10% per month?  Will they counter with a 3% reduction?  What is their strategy?  Surely large, sophisticated banks use some sort of calculation to get their inventory sold.

Today I got a counter-offer from a bank of $123405.  I give up.