Homepath properties are appraised before they go on market. Usually, the initial price is pretty close to appraised value. After all, Fannie knows they cannot sell a house above market value, because it will not appraise.
Homepath listings, like all foreclosures, become bargains after having been on market for a time; because they get regular price reductions.
Broker/Owner, REALTORŪ,GRI, ABR
REO listing/selling since 2004; BPOs only for current clients