Mozart reminded us yesterday of his upbeat outlook dating back to last May, and a search of the records found this quote, from May 19, 2009:

“Like it or not, things are getting better. Home prices and incomes are balanced. Things are still tough but stability is great news. Extremely well qualified buyers are now the norm. We’ll piddle along for the rest of the year. Substantial price gains are a ways out but this grind along the bottom is over.” Mozart.

The foreclosure list seems a bit stagnant though, and the only properties getting foreclosed are those that the ‘owners’ really don’t want, mostly due to underwater-ness:

CV f-list NOD/NOT/REO Total
Nov ’08
May ’09
Jun ’10

The list keeps growing, but not over-flowing. The worst of it for buyers are the distressed houses that do make it to market tend to be those in bad condition, funky floor plans, or inferior locations – and about half of today’s list are condos. But if the number on the list stays moderated, and the loan mods stick, we’ll be piddlin’ for a while longer. Here’s an example:

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