Good morning everyone! The last few months were very interesting for our real estate market. Many properties were foreclosed on and then later listed on the market as banks were looking to get the properties off of their books. One interesting trend is that the pending sales index has been rising since November until now. In addition, the inventory of homes for sale has scaled down since November. For the first time in awhile I have encountered many homes (20+) where my clients' had to compete with five to ten other offers. This has happened heavily the last two months in all areas of our region. I think it has to do with prices coming down, buyers feeling it is a good time to make an investment, and people jumping at the good buys in the market. It is still too early to determine if the market is stabilizing. We are sure to see another wave of foreclosures hitting the market at least through the end of the 2008.