In the WNY area housing never rose much more than 5% per year throughout the boom years and even when national prices are dropping our market continues to grow ~5%

Report this week says hedge funds are dropping volume and losing customers in droves.

What is the current market condition - dropping, stable, rising?

I expect to drop further in list.

They can drop you like a sack of potatoes....

We recently faced this when the landlords from whom we are currently renting decided to break the lease and sell the house out from under us because the interest rates had dropped and they felt they needed to sell.

It's just a guess but I would expect to see a full point drop over the next year.

Just starting to do some shortsales in Ca and AZ. Anybody got advice on where I should start my offers to the banks?? i.e. 70%,80% of BPO??

Bag it, take it to her, smile, show her the bank statement, and say "I think you, or another family member/guest dropped this.

If the value drops even a little, you'll have to bring cash to sell it.