Depends on the location, some areas are stable, some are still declining until we get into the summer selling season, then we may have a little upturn, but some many folks want to sell that have just been waiting, it will take a long time except I hear bidding wars are happening in the Portland area, but that's good. Foreclosures and Short sales will be here for a lot longer, better to do it slowly so we don't have what some areas of the country have, and all values dropping. Besides the lenders can't do it any faster, their just hoping to get as many good loans, in to make of for the lot of bad loans still on their books.
I work the mid Willamette Valley and it's not bad, but most every area has foreclosures and short sales, high and low valued homes, but the lenders are not giving them away. Again that help keep the market as strong as it can be until they clean all of them up.
Best to you all.