Could We Have Hit Bottom? Lee foreclosures drop sharply (13%) in August

There were 2,156 foreclosures filed compared to a record 2,467 in July, a fall of 13 percent.

What does this mean, have we seen the bottom of the market? I don't think so but we are or must be getting close. Where else can you buy a nice less than 3 year old 3 bedroom 2 bath 1,200 plus sq. foot home in tropical location for under $80,000? I think this means we are seeing less homes being foreclosed on because some banks are willing to work with the buyers and offers being made. They are seeing into the future and realizing if they don't release the inventory of short sales now, they will be in bigger trouble down the road. So let's clear the inventory while there are buyers and allow banks to lend more money to other buyers that are able and have the credit worthiness to purchase!! We won't know the bottom of the market has hit until 3 to 6 months after we hit bottom!!