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In our last newsletter I discussed the current bank owned property inventory, and aggressive pricing by the banks. The aggressive pricing seems to have had the desired effect. A large part of the foreclosure inventory that piled up in November and December is sold, and default (pre-foreclosure) numbers in the JBLM Region have declined, especially in Thurston County (Info from Realty Trac) . If you have been actively watching foreclosure listings, you have probably noticed that many (attractive and/or well priced) homes are no longer showing up in your search. Of course the overpriced/junk is still out there! 
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