Those areas will be more favorable for purchase prices as well as inventory but you definitely do sacrifice lifestyle and convenience.

Historically I have purchased REOs; but with inventory being so low all recent listed REOs have been listed about 10% above market value.

. $2k- Ask for 1k credit-negotiating partial sometimes better than full credit-less than a shock for the buyer and if their is low supply of housing inventory, it is a sellers market. 

@A Perez Not sure about your market but in my market and many others inventory has remained just as tight as it was before this mess.

Right now inventory is super low.

We are still quite active here and our inventory has been low for some time.

There may be less inventory, but demand is still pretty solid if you look at the most recent nationwide stats.

Single-family home sales fell 19.1 percent year-over-year, with 6,199 units sold, ending nine consecutive months of positive sales;The Days on Market (DOM) figure for single-family homes was unchanged at 58 days;Total property sales dropped 21.6 percent, with 7,192 units sold;Total dollar volume dove 20.4 percent to $2.14 billion;The single-family home median price rose 2.4 percent to $251,000, reaching an April high;The single-family home average price was flat at $310,331;Single-family homes months of inventory was at a 3.6-months supply, down from 3.9 months last April but above the national inventory level of 3.4 months;Townhome/condominium sales plunged 37.5 percent, with the average price up 11.9 percent to $227,577 and the median price up 12.2 percent to $181,750;Lease properties staged a negative performance, as single-family home rentals fell 4.1 percent with the average rent down 1.7 percent to $1,765; Volume of townhome/condominium leases fell 9.5 percent with the average rent down 1.2 percent to $1,565.Source - HAR

At least not one that is justifiable based on the market inventory vs demand and in-place mortgage systems.

He said the inventory is really low and he hasn't seen people dropping their prices because of COVID.