It also seems that other people feel the same, as a lot of the multi family houses I look at have been on the market for months.And lastly, also any of the pod casts have a guest on that deals with NYC realestate?

We are nowhere near a workout of residential foreclosures.Nationally banks have 300,000 residential reo's with another 700,000 bank owned but not yet listed for sale.About another 1,500,000 to 2,000,000 residential properties in pre-foreclosure that are short sales or are just 30 days behind all the way to having failed trial loan mods.Most of these properties will be foreclosed as they work through the system or failed loan mod to BK to eventually foreclosure.So in my opinion we are about 3 years away to work through most of the residential stuff.You have to remember that distress is not evenly spread out across the U.S.There are markets that have continued to go up and have zero to little foreclosures.Then you have the speculative markets that are first to rise and first to fall with wild swings in fluctuation.Then you have market that dip and recover but the decline is not as severe and is spread out over time.Whether you wait could depend on your strategy to buy properties.If you are long term buy and hold properties might dip a little before hitting bottom but that gain might be offset by higher future interest rates.If you are paying all cash then waiting and having the interest rate climb by 200 basis points but buying for 50k less might be a winning combo.You have to really explain your game plan more.Investing is not a one size fits all approach.

You will find resources here from blogs to pod casts and forums.

You will find resources here from blogs to pod casts and forums.

You will find resources here from blogs to pod casts and forums.

You will find resources here from blogs to pod casts and forums.

Mods - Feel free to remove the dups...

ServPro quoted $3000 to have his items moved into a pod while work is done and to have his items moved back, but he refuses to pay a penny for anything (including rent for a year and a half I might add).To make matters worse, he threatened to unplug all water mitigation equipment left running in the condo used to remove moisture and possible contaminants from the air.

The ability to learn what a good deal really looks like comes down to using the PRO calculators- practice every day. 2)Listen to every single BP pod cast.

You will find resources here from blogs to pod casts and forums.