Before you look at the attached video and chart, consider these points:

The interviewee is a real estate broker. EVERYONE has an opinion and I agree with a few.
Refrain from thinking "he's just looking to make another sale..."
He has GOOD, VALID points that I concur with in San Diego (see attached chart). The market isn't great for sellers and there are properties buyers can buy for much less than in days past. The number of bank owned homes (REO or real estate owned by the bank) grows every day. Notices of default do not always result in a bank owned home; these can be "headed off at the pass" via short sale. And there is a whole different lecture on buying homes at foreclosure auction (trustee sale).

Conduct your own due diligence - call me for specifics on your area.

Without further adieu:

and  (click to view)

Have a great weekend.

Marvin