Yes, there is a flood of foreclosures coming, and so is Paul Revere. Are you going to be in the flooded area where home prices drop even further?
Those areas where the dam may burst have already had the damage done by the banks not foreclosing on squatters for the past couple years. Are you in one of those areas? If you are reading this blog I know you are not in one of those areas. Riverside, San Bernardino Counties and neighborhoods with high percentages of foreclosures are the only areas at risk.
If you are a buyer thinking you are going to grab a nice single family home in a good area when the Tsunami hits you are breathing too much Ether. The government forced the banks into a $26 Billion Crapshoot that will flush out some of the foreclosures in the pipeline more quickly than they had in the past couple years. Squatters are going to get a wakeup call and it’s about DAMN TIME for it. Those of us who pay our bills are paying for them to squat and 2012 will take care of that mess. Want to grab a great deal on a house? Investment? Home affordability is very high with low interest and low pricing. Do the math and compare to renting and be sure to add inflation to the rental amount. Buying most likely will be the winner and we have programs for first time buyers. If you want to live in the Tsunami zone, homes are already buy one get one free and come with tenants already in them. Those tenants are not paying and you have to evict them because the lenders were far too weak to do the job. You really didn’t expect the government to handle this situation any better did you? Stop breathing that Ether and turn off the main stream media. You are not in the Tsunami zone.
David Alex Wright
ENGEL & VÖLKERS • Irvine • Newport Beach • Laguna Beach
EV Coastal Real Estate, Inc.
6787 Quail Hills Parkway
Irvine Ca. 92618
3636 E. Coast Highway, Suite B&C
Corona Del Mar, CA 92603 USA
Phone +1-949-209-8963
Mobile +1-714-476-2040
Fax +1-270-423-4795
Internet: irvine.evusa.com
Mailto: David@IrvineEV.com
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