As I said in previous posts things are now in the stagnation stage. The active pending ratios in many areas are turning bearish. Finding recent sales becomes tougher for appraisers. As you stated what seemed like a deal may not seem so now. However when you did your analysis last month did you note the number of pendings in the area you looked at not just closed sales? At any rate it is moot. You should come to the realization that things are going to slow down.
