Headed up here in Northern New Jersey, but excruciatingly slowly. It's as though we have two markets going simultaneously, though. It's difficult to get buyers to even look at short sales and, while a lot of them think they want a foreclosure, when they actually see a few REO homes, they run away in horror! And I hear from the REO agents that the banks still have not released their REO properties here, so who knows WHAT will happen when they finally do so.
I really wish we could somehow get the banks OUT of the real estate business. Just my opinion, but it's the banks' irrational behavior that is holding this market back. They refuse to pay for legitimate appraisals, so they get bad information, then they make bad decisions based on bad data and distressed properties languish on the market, which brings the entire market down.