THINKING OF BUYING A FORECLOSED HOUSE AT A BARGAIN PRICE? Five things to look at first.

Meanwhile, I have to say that house prices seem to me to be falling too slowly. In my area, the houses that have sold are the ones where owners have cut prices significantly — but I still see houses being put on the market at prices that presuppose 7-8% appreciation over the last two or three years, which is ridiculous.