This may seem an obvious answer of no, but I must say in my markeplace this is what we are seeing.  Let me explain.  Prices are down compared to a few years back, interest rates are low and inventory is misleading.  What do I mean by inventory being misleading?  Well there are alot of properties that are short pays and short pays that are NEVER going to sell or be accepeted.  This is taking up inventory space and giving out the wrong perception to buyers on pricing and homes available.  It also distorts the "pending" escrow count, but that is for another blog. 

Here is the dilema I am experiencing.  Most buyers want bank repo's or REO's or the peverbial great deal!  Well the rate foreclosures are coming to the market has dramatically slowed, and with rock bottom pricing on them, we are seeing most REO's sell in MULTIPLE OFFERS AND SELL ABOVE THE LIST PRICE!  Doesnt that remind you of a sellers market?

IN this same market place I am seeing well priced " standard" listings not get nearly as many looks, offers (if any) and are continously chasing the market downward!  I am not talking about the seller that thinks the market is still 2005 or 2006, but a realistic seller that is not selling MAINLY because he is NOT a foreclosure and the perception is foreclosures are the "best deal."

Hence a buyers market on REO and bank repo's is going INSIDE the buyers market and opportunities we are seeing!  People looking for these deals, these deals coming, and people buying them quickly at all cost!