Bank-owned properties in Big Bear

We've had a very busy year with about half of our sales coming from bank-owned properties so far in 2008. However, that's half of the number of sales, but only about 20% of the dollar amount. Because it's generally a second-home market and people didn't seem to be getting into crazy negative amortization, adjustable rate mortgages for a vacation home; we have a very small percentage of bank-owned properties (less than 0.5% in our MLS). If the bailouts and Countrywide-style adjustments work as promised, there could be a dramatic increase in our median sales price as soon as these bank-owned properties disappear from the market. www.bigbearteam.com