It's happening as we speak. All of those so called great deals on foreclosure properties are vanishing. Here in South Florida, it's becoming very common for properties to sell at more then asking prices! As fears over interest rate hikes, coupled with the awareness of the upcoming deadline for the $8000.00 tax credit loom near, properties are flying off the shelf at a speed that we haven't seen since the market boom.
So take this as a word of warning. If you're procrastinating that buying decision you run the risk of losing out to competing buyers. We've all but reached the bottom, so go make your best deal!!!