Prices have not fallen enough here in south OC. Too many folks still buying the 1m+ homes. The smaller ones are sitting longer – I have seen some reduced 40 – 60k, but that’s about it, I guess there are some real deals, but I feel we (the medium home buying public) will not see any real big drops unitl mid -next year.
Of course I am interested in purchasing a forecloser – however the one’s I see have all the equity sucked out and been left for the bank, and they (teh bank) still believe the market is going to rise again and will not take discounted offers.
Kinda upsetting, but I am cool to sit in my rental and wait, and wait till it is the right time for me.
SO I pay a fee more tax dollars this year, better that than to be stuck so upside down, you cannot even see the top.
Perhaps I am wrong, time will tell.
