Buying Up The Market

I just simply do not care what people say about the next "foreclosure wave". I think its not going to look like bargain hunters hope it will look like. I am of the opinion that if lenders truly are holding onto a "shadow inventory" (see Wall St. Journal for a series of articles on that) then they are going to be strategic about releasing them and not flood the market which is what it would take to drive prices down with any significance.

So what does the "new" market look like. It looks like this. Properties that are truly distressed and the big bargains are snapped up fast. Cash investors are grabbing them before they hit the market or multiple offers are common. When people are buying and pendings are up - we are getting back to normal and that's just hard data.

So count me happy to see people buying!