I think the idea that hundreds of 4S neighbors will be giving their homes back is absurb hyperbole. They come in onesies and twosies. It will take 6 to 9 months for them to come on the market if someone gets a Notice of Default in the next month or two.
Furthermore, there arent many new detached homes on the market under 600K. We are heading into our secular Spring rally and I gotta beleive all those tech companies in RB and beyond are going to hire at least a dozen well paid professionals some of whom will have families and want nice homes nearby. The numbers should actually be much higher. It would greatly surprise me to see that house sell for $450K in the next 6 months. It could crack under $500 within 12 months but $450 is just a tad more than we’ll see this year IMO.
