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2008-06-25 — thetruthaboutmortgage.com
"California home sales were up nearly 20 percent in May compared with the same period a year earlier as the median existing home price plummeted at a record pace, the California Association of Realtors said today."
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travelare at 06:31 2008-06-27 said:
The longer it takes lenders to 'review' short sale requests - still upwards to 75-90 days -- the longer it's going to take the market to settle. Buyers continue to back out of deals when values drop to find a better bargin around the corner. Yep... then wait again because all that's out in Southern Cal are in excess of 75% Short Sale or Bank Owned. The faster you can get approvals from lenders, the faster you will close to maintain the price the faster you can use the higher comps to justify a price maintenance vs a free for all fall. !! Permalinkadd a comment | go to forum thread
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