Remember when TG described the “popcorn” effect, where you’d see a single, exceptionally good deal in a sea of overpriced listings…then, it’s like popcorn, and everything else starts “popping.”
I’d like to think this might be a leading indicator, but I’m an optimist that way. 😉
FWIW, there are some similar deals that have recently been showing up in the areas I watch in L.A. These areas have held firm until the past few months, and there seems to be some weakness there. We suddenly dropped into 2003 levels, and a lot of it looks like it’s due to either short sales or *investors* who apparently got some screaming good deals at the courthouse steps or might be unloading some of the bulk REOs that have been trading hands behind the scenes. As much as I rail against them, the investors are actually making the market work right now (in L.A., not so much down here).
