Inventory reduction regarding listings, lower interest rates and rock bottom pricing have heated the real estate market up!  Regardless of what you hear on T.V. those of us in the grind of real estate understand the market is not as bad as advertised.  As a matter of fact ITS HOT!  Well priced homes in good condition in desirable areas are not on the market long, and they are selling in multiple bids.  I am finding this especially true in bank repo/reo arena.

I also find the REO's not necessarily the best deals, but people are making offers just because of th buzz word "FORECLOSURE."  I wish I could take every one of my sellers listings and just say "FORECLOSURE" on it and would sell in multiple offers, no repairs, no nothing and a per dieum if it doesnt close on time!  Seriously though the REO's are being sucked up, and with the new requirements on the bank (which I feel is a good thing) to REALLY ATTEMPT to help with loan modifications, then short sales and finally foreclosure, it has helped the market begin to right itself.

Look at financing currently. Yes it is harder to qualify, but if you can get a 30 year fixed FHA loan with putting 3.5% down around 4.5% or so and the property prices have come down, you pay more to RENT in alot of cases than to BUY!

I have investors and first time buyers bidding on the same properties!  That tends to say you are at the bottom. I do not know what the future holds, but I do know we are righting the ship!  ITS A GREAT TIME TO BE IN REAL ESTATE AND GREAT TIME TO INVEST IN IT!