What happened to all the Bank Owned Foreclosure Listings?

About two years ago, the banks realized that Foreclosing and Selling their own Properties,

is a very expensive process.  Shortly there after they began allowing Investors to purchase

these Properties, at a discount, at the Trustee Sale Auctions.

They also began building up their in house Short Sale Departments.

This graph does not show the rise and falls of the number of foreclosures,

just the percentages of how they are being sold.

Everyody is waiting for the "Psychological Bottom"

Keep in mind these are National Averages.

The seasonal trend really stands out.

Everybody is waiting for the "Bottom of the Market".

They can't be waiting for lower interest rates...

Do they think prices can get any lower?

International Buyers see Las Vegas as a "Hot Spot"

Click above to view this extremely detailed report on

where International Buyers are Investing their Money.

Most International Buyers are looking for something for themselves,

either a primary residence or a vacation home.

Not so sure what "Both of the above" is...

Gas Prices Affect the Economy

In my opinion, this is have a big affect the real estate market.

It's simple math, the more we spend on Gas, the less we have to spend on other things.

If you stop putting Gas in your car, it stops moving.

If you stop paying your mortgage, you get to stay there for a couple years.

A Recent Interview with Prof. Robert Shiller, Creator of the Case-Shiller Housing Index

This is one of the Ultimate Authorities on our National Housing Market.
Speaking on the National RE Market, Consumer Confidence, Political Policies and much more.

"Supply and Demands" and it's affect on Prices

I don't want to get too excited quite yet.

This slight upward trend is most likely an affect of the recent Assembly Bill 284.

Though it's nice to see a positive movement in the market,

we'll have to watch and see what happens next.

Do we learn from our mistakes?

 

I have mixed emotions about this issue.

On one hand, I am anxious for the real estate market to be in recovery.  On the other,

lower lending standards was a big part of causing the problem in the first place.