Bank Owned Foreclosure Moratorium
We are now almost 2 months into our Californian 3 month-long moratorium on foreclosures for our real estate market. For those of you that have been tracking the market in San Diego, just awhile back in 2007 there were 21,000 residential properties on the market. Most agents never thought they’d see this inventory end. And now…
Recent Impact on the San Diegan Real Estate Market
The most recent impact on the San Diego real estate market is that we now find ourselves in 2009 with a bare bones of 7,000 homes on the market with most of those being foreclosures. Potential buyers submit offers on properties that have little or no chance of ever closing escrow because they are being sold short.
What Effect Will This Real Estate Change Have?
Some say that we will soon be bombarded by foreclosures hitting the market and driving prices down even more. Others say that President Obama will not allow that to happen. What is the truth? We don’t know. What do fellow readers think on this topic?
Tell Others What You're Reading!
Connect with me!
