For us, the first blooms of spring, are a sign that business will be picking up soon.  This year, with the collapse of the "hard money" lenders, spring was late in coming.  It's the middle of June now, with the first day of summer just around the corner, and we are finally starting to see activity in the market that indicates movement.  We have had lenders with clients that have been waiting months for there to finally be some sales that would support a refinance.  On the inspection side, our real estate agents are starting to keep us busy too.  If this is the extent of the hard money collapse on our market, then I will take it and be happy.  I talked to an appraiser in Chicago the other day (looking for work in our area), and he said that there are 30,000 bank owned properties in his area right now.  These were caused by hard money lenders coupled with dishonest appraisers getting people into houses they couldn't afford.  All to make a quick buck.  Sometimes we complain about the latest regulations that are being imposed upon us, but if these mean that it will keep people from losing their houses, and keep the rest of us working, then by all means, bring it on!  As hard as it has been the last few months, having no market would be far worse.