Diana Olick and Heather Fernandez discuss the current number of home sellers reducing their initial selling price as compared to a year ago. Diana also notes 50% of the recent existing home sales were distressed properties.
The conversation up to this point is actually rather intelligent and Dennis (Gomer Pyle) Kneale takes the opportunity to share his vast knowledge regarding the volume of foreclosures. He states Heather, "there is less supply of foreclosure properties selling at firesale prices.......". Heather (clearly the smarter one) states that there continues to be an increase in the number of foreclosed properties hitting the market.
Back to your dish Dennis.
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