REO's in TX - conflicting info

So, I’ve heard different things. On this board, I read that good deal REO’s are few and far between in DALLAS. I recently attended an REI meeting in my area and SEVERAL people were saying REO’s are the way to go and that they had done and have several deals through banks. I talked to one guy who had 4 REO’s at the same time when I was talking to him. Why are some people in TX saying there aren’t REO deals, but others I’ve talked with say they are plentiful because banks can’t unload?

You just have to test the market for yourself. Some cities in TX like Austin where I am have bucked the national RE market trend, so some banks may think they can get good prices. However, I’ve heard stories of investors in these markets (e.g. Austin) that would make offers with 50% earnest $ & 10% option $ for 50 cents on the dollar & the bank says yes!

So I guess in that case: Cash money talks & make offers, make offers, make offers!