REO Home on Zillow for 168 days.. Is my offer reasonable?So my wife and I are looking to move and the house we're looking at is an REO home that appears to have been on/off the market for 2 years and most recently listed on Zillow for 168 days. We have a pre-approval letter from our lender and have submitted an offer that is $20k less than listed ($170 vs. $190). Considering the time it's been on the market and the trend that the listing price has dropped roughly $20k every couple of months, I was going to see if this seemed like a reasonable offer? I am VERY new to REO homes and have been trying to do as much research as possible to be well informed IF the offer is accepted. Thanks! March 27 2014 - Oklahoma City00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.