My realtor didn’t need to drag me down there to see distressed houses because I live here and know a lot of the distressed homeowners personally. The ironic thing was that we both had a huge list and we both had many homes that weren’t on each others list.
We won’t make any offers until October. I would like to wait until the $8,000 tax credit expires or wait to see if it turns into $15,000. There are also about 20 homes to be auctioned this month so I would like to wait and see if that actually happens.
We will probably make our offers in Nov/Dec. To even attempt an offer like that we will need the Tax credit expired/holidays. My feelings aren’t going to be hurt if the bank says no. My strategy is to give it a try this winter. If it doesn’t happen we’ll simply pay more in the spring. I can’t ignore that prices have statistically fallen 10% every winter for the last 4 years after a spring/summer bounce.