New Wave

If you've talked to us recently, you've heard us say that we're not out of this mess yet. The shadow inventory of bank-owned properties yet to be released to the market, and mortgage delinquencies that will result in additional waves of foreclosures are harbingers of further erosion in statewide real estate values. As usual, our local neighborhoods appear to be in better shape than most, but the damage is wide spread. Today's Chron spells out the ugly truth. The market will continue to be friendly to buyers for the foreseeable future. And if your were thinking of selling but thought you'd be better off waiting a year until things pick up, you may want to rethink that strategy.