Reading other posts I understand that the US "may" have some way to go before the bottom is reached but will this affect bank owned/foreclosures apart from the number that may be available. We are offering on a bank owned property at 65% than it cost 2 years ago; it is 4 years old. All the figures add up as a long term rental with a decent renter base etc. We are happy with this and tend to have a bird in the hand philosophy rather than try to be too clever and possibly loose out.

My question is are bank owned/foreclosures likely to get cheaper or is there a point the banks won't go below?

andrew