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Its just about serious bargain hunting season, especially if you are in the market for picking up a short sale or a foreclosure/REO. We're in our last 30+ days or so of the summer sale season.  Sellers (including the banks with their foreclosure holdings) do not want to be on the market this fall. Why?  Several reasons.  First, the market is continuing to decline which means the house they are trying to sell is worth less each month.  Second, winter is not, historically, the most ideal time to sell. Its just slower.  Moving over the holidays is not popular. Third, banks that have a traditional year end of December 31st have to start thinking hard about what non-performing assets (in other words, foreclosures & REOS that don't make them money but cost them money and tie up their funds that could otherwise be making money) are going to be on their "books" at year end.  The less "on the books" the better.  Most have stockholders to answer to--and stockholders don't like ugly books.

So, combine all this info , I say "Shoppers, its sale season!" 

If you would like additional information on buying short sales or foreclosures or selling your home as a short sale, just let me know.

Melinda

PS If you are a seller with a short sale, its a great time to remind your agent to remind your bank of the above and "motivate" them to cooperate with you!