TODAY WHILE DRIVING A BUYER PROSPECT TO PREVIEW PROPERTY IN MORENO VALLEY AND PARRIS CALIFORNIA, I WAS SADDENED BY THE NUMBER OF FOR SALE SIGNS I SAW IN EACH NEIGHBORHOOD COMMUNITY. THEY WHERE PRIMARILY SHORT SALES WITH SOME BANK OWNED PROPERTIES ALL OF THEM DEFAULTS.
I SPOKE TO NEIGHBORS WHO TOLD ME THEIR NEIGHBOR WAS FORCED TO LEAVE THEIR HOMES BY THE BANKS BECAUSE THEY COULD NOT MAKE THERE MORTGAGE PAYMENTS. HOW DID SO MANY PEOPLE LOOSE THEIR INCOME? THESE INDIVIDUALS HAVE OWNED THEIR HOMES FOR MANY YEARS SO THEY WERE NOT SUB TO THE SUB-PRIME CRISIS WE JUST WENT THROUGH THIS PAST YEAR OF 2007.
After spending two solid days in two weeks, one full take of gas and eight plus hours not including the time on the internet and phone, this buyer just up and disapears. Will not return my calls or email.
Sunday, May 4, 2008
Thursday, May 1, 2008
WHAT'S UP WITH REAL ESTATE TODAY!
Well this past year was quite a shock to most of the country regarding the real estate market. It is my understanding that the Real Estate Market will adjust itself every ten years of so. Here in Southern California, the prices where just sky rocketing so I can understand that they could not keep going but I had no idea it would create the type of market it did.
I think that once the problem started, the media jumped in and just distroyed the faith of anyone thinking of purchasing property and left us with no buyers. This happened prior to the sub prime lending crash perhaps being caused by lack of money available onced the sales of homes stopped.
James
I think that once the problem started, the media jumped in and just distroyed the faith of anyone thinking of purchasing property and left us with no buyers. This happened prior to the sub prime lending crash perhaps being caused by lack of money available onced the sales of homes stopped.
James
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