A few years ago, our market was filled with bank owned, short sales, foreclosures and other distressed homes for sale. April 2011, we had 33, 023 active listing for all bank mediated properties, but as of the end of March 2012, we had only 12,895 of homes active on the market. This about 1/3 drop for all bank medicated distressed homes foe sale.
As you can see from the attached graph, these homes are slowly getting off the market.
Short sale homes have gone down from 11,773 a year ago to 1,159.
If you are looking to shortsale or have been on the fence about that, this the best time to do so because you will not have a lot of competition.
Request more information about shortsale here