Attention first-time homebuyers and investors looking to take advantage of the current market conditions:

All Hope Is NOT Lost!

It’s true that homes in the popular price-point that qualify for conforming loan amounts are being grabbed up more quickly than Cheerios to a 1 year-old, DO NOT give up! Trust me when I say that more opportunities are on their way.

I hate to think about all the distressed homeowners out there that I have been speaking to that REALLY want to save their homes.

The banks are a mess. That’s the truth.

They are holding onto massive numbers of assets because they cannot process the files quickly enough to get the bad assets off their books. Moreover, they are in no hurry because, once sold, the bad debt must get written off, thus impacting profits. Shareholders will walk if the banks cannot demonstrate sustainability.

Can you imagine what our economy could look like if the shareholders sold off all their bank stock??? Today's LA Times reported that the drop in home losses is only fleeting and a precursor to what looks to be a busy fall season.

I happen to agree, which is why I have positioned myself as a Short Sale/Pre-Foreclosure Specialist for Westside Los Angeles and Santa Monica Real Estate.

You can access the LA Times article by clicking here.

Many buyers I’m working with are looking for a ‘great deal’. While there ARE great deals to be had today, the future looks awfully bright for ready, willing and able (read: loan pre-approved) buyers, in virtually every price range.

However, buyers in the $400K-$800K price range need to understand that competition is stiff. Great deals and well-priced properties are seeing multiple offers. That’s a reality in most Westside areas. For now.

Here’s the scary truth:

Lenders have sent out an estimated 124,562 default notices in the second quarter of 2009, so expect a flurry of short sales and foreclosures on the horizon this Fall. So let me know what you're looking for and how I can help you get set up to win in this market!

Cheers!

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