For the causal real estate investor or those who perhaps looks for potential real estate investments on their own, it just got a bit more difficult to find that distressed piece of real estate. Historically, finding and buying foreclosures at an auction was one of the primary methods of acquiring real estateforeclosures down at below market prices.

Combine that with the massive wave of foreclosures that occurred as a result of the housing debacle that began in 2007 and it was rather easy to find foreclosure deals as more and more banks took back homes from borrowers who could no longer afford to make the mortgage payments on time.

Last week the real estate data analysis firm RealtyTrac reported that foreclosures reached the lowest point since before the housing bubble burst. In June, there were 107,194 foreclosure filings across the country, the lowest since 2006. This thinning of inventory has gained new ground as the first wave of foreclosures in non-judicial states began to clear out just as judicial foreclosure states got around to hearing foreclosure cases from lenders. A few states, those that require a hearing in front of a judge, saw an increase in June however as the courts make room for additional suits. New Jersey for instance saw a 54 percent increase in filings while Florida had the highest rate in the country. These gains however were offset by other parts of the U.S. that saw foreclosure rates fall precipitously.

Serious real estate investors who have been Investing in Real Estate full time for decades should have an easier time bidding on properties as the casual investor doesn’t have the sort of resources that a professional turnkey real estate operation has. Success investing in real estate has less to do with distressed inventory and more with proper analysis and initial review.