PowaySeller, I agree completely. We are actually not in a hurry at all and are “bubble-sitting” just like you. We sold our house last year at the peak and moved into a condo for the time being while we wait for a bargain. We own the condo, so we are not paying rent either. So we can afford to wait, and will do so. I guess I just have a lot of angst in wanting to see these greedy developers feel the heat and would like to see them sweat and retreat. Their smug arrogance just making me nuts.
In the meantime, I am learning about foreclosures and completely agree with your thoughts and approach. Thanks for all of the feedback and allof your informative and well thoughtout posts.