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We often talk about the fact that there’s a shadow inventory out there. We’ve explained to you over and over again that inventory’s been tied up because the banks were afraid of the penalty they were going to get for not doing it properly. That penalty has been well defined and they’ve received the roadmap about 60 days ago. And I’m starting to see the number of foreclosures entering the market increase dramatically. The KCM members out there that already are REO agents, agents who do a lot of foreclosure business, they’re starting to see a tremendous, a dramatic uptick, in the amount of houses they’re getting now; the amount of listings they’re getting from the banks right now.  So that wave of foreclosures, it’s going to be a different wave in different parts of the market, is coming. -  Courtesy of KCM Crew

Now inventory overall, again we’re going back to supply and demand, as a country we’re back to normal numbers; that six month, five to six month number. That’s sensational. And some of the markets I visited over the last 60 days their inventory’s way low in certain zip codes, in certain prices, in certain types of houses. It’s under that six. Its four months. In some parts of California it’s two months in certain price ranges. And that might lead the seller and it might even lead some agents into believing that you know what it’s time to start upticking the price. Let the market determine that. Let’s not try to drive prices up because we have something else coming at us. – Courtesy of KCM Crew