But I wouldn’t buy based on those criteria. I would buy based on the sales rate, months of inventory, percent of sales that are REO, number of foreclosures on the market, number of foreclosures that have not yet hit the market, etc.
So, I don’t really care if it it is in good condition priced 5% below 2003’s level. I care if the price will it go lower or is it ready to come back up.
If this web site teaches you nothing else – learn not to look only at the price graph to help you determine if you should buy. Look at other underlying factors which affect prices.