Even though all three counties saw a seasonal decline in homes that are trying to sell there home for less then what is owed on the mortgage, the short sale inventory is still greater than December ‘08. Before we can see any stabilization in the Long Island real estate market we are going to have to see these numbers decline steadily.

I keep hearing that there is another wave of foreclosures coming to the market this spring; however, there has been no sign of new inventory as of yet.