There’s definitely been a shift in the market and while all the inventory available will take a while to dry up and regain “normalcy,” I’ve begun to notice foreclosed homes being priced more competitively than six months ago. And that’s definitely having an effect. I was out with a buyer yesterday looking at homes in Natomas and of the four homes we had been considering two weeks ago, two were pending. All four were bank-owned properties.

Six months ago, the situation was different. Foreclosures were priced at 2005 values. Today, foreclosures are where the bargains are.

Banks are finally getting it right!

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