You can take it slow, this winter is great, next winter

may be greater. But I can't guarantee that next next winter will be as good. Subprime loan rate reset will soon wind-down in a couple of months, Alt-A reset will also wind down in a few more months. REO will continue to flood the market for the next 12 months, inventory will remain high. 2009 will become best year to bargain hunt foreclosed properties. I am not certain about 2010 though. By end of 2009, price for *REO* properties should touch bottom. However, that doesn't mean regular sales will see bottom at that time. All bargain hunting effort should be focused on REO properties anyway, i.e., dealings with selling banks only, so you can disregard regular sellers.

Don't call me "expert", I am embarrassed with that. I am just a amature investor paying attention to the market and read a lot.