Working with potential Los Angeles home buyers in this real estate climate is challenging.  Most listings are not realistically priced; others are short sales, which can translate to months of waiting for the thumbs up or down from the lender.  A handful of homes are aggressively priced and are selling quickly in multiple offer situations.

The foreclosure moratorium has changed the dynamics of our Los Angeles real estate market.  Many homeowners are living payment free in their homes just waiting for the axe to fall.  There are home buyers ready, willing and able to buy these homes…. If they come on the market. Should the government interfere and offer yet another bail out?  Is it time for underwater homeowners to be provided a lifeline? Some housing experts believe there is no alternative but outright forgiveness of a substantial chunk of mortgage debt for many who are at risk of foreclosure.

 

Tom Petruno, Market Beat

New Research On Walking Away

What do you think?