What caught my eye in this story was that one San Diego Realtor said that 40% of his business was from Arizonans!

There could be some truth to that because a high school buddy of mine (Red and Gray! All the Way!) recently bought a bank-owned property 50 feet from the water (Mission Bay) for a price he couldn’t refuse.

Alexiou said that 40 percent of his clients are investors from Arizona who are paying cash for foreclosed properties.