My New Blog

We continue to work hard doing the same things we have been doing for three or four years.  Market values continue to be soft and decline.  Short sales and bank owned properties are a large part of the real estate inventory in San Diego as well as Southwest Riverside County.

On alll new purchases, we have witnessed a collapse of the appraisal system as the new law has restricted communications between appraisers, Realtors, and lenders.  In most cases, long term appraisers have been forced to give up half their fees to corporations that are owned by the banks.  This has caused a wide variety of appraisal issues on new purchases. 

In the short sale world, the larger banks have made great strides with better communications with Realtors as well as improving their overall process system for quicker approvals.  We have helped and continue to help numerous families save their credit and avoid foreclosure, taking a big burden off their shoulders, as they re-adjust their lives to the new realities of our economy.

We are often asked, "how long can this go on?"  We have been completely consistent in our response.  That is:  Until unemployment improves, there will be no real estate recovery.  If people are not working, or they are working and not making as much money, or if they are in fear of losing their jobs; those people are out of the real estate buying market.

Despite the fact that we have the best interest rates ever, the overall demand is way down, hence the continuation of a declining market that we are witnessing.

One silver lining is that homes that were unobtainable at one time are now good opportunities for people who have secure jobs and/or equity as Move-Ups.  Investors are also poring into the market, rehabbing fixers, and selling them at competitive prices and still making money.

If you know somebody who owes more on their mortgage than their home is worth, and they are having trouble making their house payments, please refer them to us so that WE CAN HELP.