REO at an online auction, but listed on mls?

[Joe Rosenberry]

So my wife an I are looking for a house, we both grew up in the same town, and her parents still live there. Since we have a 9 month old it would be helpful for us to be close, we found a house 2 minutes from them, but its an reo house that you have to put an offer on through a website.. I noticed today that they lowered the price, now i knownthe house its nice and priced ok for a normal purchase, but still high for an investor.. does lowering the price indicate they aren't getting bids on it? And maybe i should just put an offer in and hope for the best? Or don't bother because an investor will win out with a cash offer?