Hi Dennis First of all, forget the idea that banks bid high to stop prices from falling. Neither Wells Fargo nor the entire financial system has the firepower to keep the whole real estate market propped up. And even if they did, there’s no logic in paying more than necessary just to “protect values.” Business is simple: buy low. With how stressed the Florida market is right now, what I’m seeing from lenders is actually the opposite. Many are bidding below their own final judgment because they want to avoid taking more REO inventory that loses value every day they hold it. So when a bank comes in way over the judgment amount, like Wells Fargo jumping from 133k to 250k, it usually means something specific is going on behind the scenes, not a strategy to keep prices high. If you want, share the county and case number. I can take a look and see what might be happening in this particular file.

First of all, forget the idea that banks bid high to stop prices from falling. Neither Wells Fargo nor the entire financial system has the firepower to keep the whole real estate market propped up. And even if they did, there’s no logic in paying more than necessary just to “protect values.” Business is simple: buy low. With how stressed the Florida market is right now, what I’m seeing from lenders is actually the opposite. Many are bidding below their own final judgment because they want to avoid taking more REO inventory that loses value every day they hold it. So when a bank comes in way over the judgment amount, like Wells Fargo jumping from 133k to 250k, it usually means something specific is going on behind the scenes, not a strategy to keep prices high. If you want, share the county and case number. I can take a look and see what might be happening in this particular file.