My wife is a realator and we looked into it briefly. There are hundreds...yes hundreds that look at the new listings daily to see what's on the market for a steal. Some have very large bank rolls so that houses in the mil plus are not out of their ability.

If you want to try the game concentrate on houses marketed over $400,000 and have been on the market at least 6 months and offer them $50,000 or less than what they are listing for. The problem with houses in this price range is they are not fast movers anywhere except wher you would expect, Denver area or the ski resorts. So, you might get stuck selling at close to what you paid fo rthese places after sitting on them for months.

The $200,000 and under priced homes are overshopped for deals.