More RE Gains

128 existing homes and 22 foreclosures. The 45 thousand dollar FC is on lewisville, and the Yahoo map places it in between King's Row (sic) and Hickory Hill by Matteo's (sp?) Pizza. In the next couple of days, I will try to remember to pack the camera and grab an image. That's a hell of a low price and sure to unsettle comps for existing homes for sale.

Analysis/Random Thoughts: This is the beginning of the RE season, so it is no surprise to see the existing inventory numbers moving up, even about a dozen in about a week. I expect to see the July 4, 2009 number be somewhere around 160 to 175, and if what I am reading is accurate, we should be at about the bottom of the trough now, meaning for this real estate selling-season. I can't imagine that there's anything below 45 thousand, can you? Think about what it would be like to try to sell your (two or three bedroom with one or one and a half baths, on let's figure a smaller, quarter or half acre lot) home for a buck and a half and thinking that's a low, competitive price, only to find out that there's a FC in the same zip code for one third your price. It essentially takes your home off the market at your price or any price even remotely near your asking/hoping price.