WOW, it's been almost a year...

I can't believe that it's been almost a year since I posted my last blog.  I kinda breezed through my old posts and it's really interesting to see things from a different perspective.  Looking back and comparing my '07 posts versus my early '08 posts, I can see my view of the market sharpened considerably.  My February '08 posts are very closely inline with the comments Richard Lee made on the news a few day ago.  He basically said we are going to trudge along the "bottom of the market" for a few years. 

The number of NODs and NOSs are so high that I believe it's not too late to "wax your board", paddle out and catch a few waves!

Here's something to think about.  Of all the listings I sold in '08, I would say we averaged about 3 offers per listing.  Some had 10 or more offers, but some had only 1, so I'm giving you a conservative average.  Now, if that's the case across the board, can you imagine how many buyers are out there????  I just took a snapshot from MLS and there are over 7800 REOs on the market (EA/ER).  That wave may not necessarily be all on the listing side of the REO market..........