[Tim Hamilton]

I say maybe, if they are not an uncommon occurrence in the market and sold through the MLS with competitive marketing time. I usually find, not surprisingly, that the REO trends toward the lower end of the market but it is an informed seller and informed buyer each working in their own self interest. Here in NJ the REO sale is often preceded by a Sheriff Sale of the asset to foreclose the bond of mortgage and that Sheriff Sale does not in my opinion qualify as an arms-length transaction. Hope that helps.