Mostly because their buddies, family member or associates control the market.  

this is tricky, it tends to be a case by broker-case basis, and only a handful of brokers control the bank-owned..yikes......i forgot if the agent can rep. the bank and you, there in NC, if you make offer..Just thinking out-loud and opinion, not telling you what to do, dont know your plan (hold, flip, or your funding):  ...get over there, with a property preservation buddy, assess the repair and upgrades, (unless its already pretty perfect or you feel the agent can give you some accurate idea)...ask agent what he/she can sell for in good condition, confirm.. then factor arv, repairs needed, make offer with 10 day due diiigence professional inspection......are you offering an almost full retail-market priced forclosure anyway, then are you going to hold it for cash flow? 

@Chuck Holland I don't have any great leads down there myself, but I got a wholesaler buddy that is tearing it up down that way. 

One of the workers told his buddy "I've placed septic tanks my whole life, but never had someone care that much about one"

This is how it worked: the "land agent" had a buddy on the scene who set up a big bladder full of water a bit further up the mountain, ran a hose through the brush down the mountain, and buried the last fifteen feet.

Going back to my Marine Corps roots, I spoke with an old marine buddy of mine who suggested scoping out his (and my former) neck of the woods - Onslow County, Camp Lejeune, Stone Bay, Swansboro, Hubert, Richlands, Surf City, Topsail and the southern Outer Banks.

I have a buddy who I went through the police academy with that was stationed at Fort Hood. 

I have a buddy that is a real estate agent in Lufkin, and it seems that he is up there building spec houses. 

New thing/partnership in question: A friend and his buddy approached me about getting into investing, the conversation over the past few months turned into them wanting to partner.

@Andrew Franzen thanks buddy