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The funny thing is I was reading about how technically the detroit metro area has access to the largest body of freshwater in the world. Without water there's little plant life...which means little animal life...less clouds more sun higher tempertures. The justification for moving to the south west shrinks.
Being a real estate broker can involve much more then listing and selling houses. Many brokers are also developers, speculators and some are involved in commercial real estate. What better position could there be to hear about and find the good deals in real estate than being a broker. In business information you know that others you are competing with do not know is golden. My opinion is that very few good deals ever make it to the market as they are snatched up by the brokers or their straw men. I would guess that the choicest foreclosures are bought by those on the inside and only the residue make it to the market and the MLS. This probably along with many foreclosures being held off the market is putting a prop under prices. Real estate has always been a rigged game and it would seem that this is particularly particularly evident on the housing side. There is such a high level of emotion attached to the way most people purchase a house that they just roll over and accept getting screwed by the inside game the real estate industrial complex plays.
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Just happen to look at redfin today and notice another house was bought low by someone before it went on market. The buyer in turns mark up the price as much as ~30% and hope to sell for easy profit. Though not sure who the buyer is, but I think my guess is not far from reality. Must be an investment organization's job. I truely believe this happen everywhere. Sigh.
http://www.redfin.com/CA/Upland/1364-Maywood-Ave-91786/home/3888752