22 October 2008

Real Estate may be about to go up

An acquaintance told me that her friend can't buy a foreclosed property in Antioch, CA for cash. The friend made an offer that met the bank's price, but now the bank doesn't seem to be able to get around to processing the transaction. My acquaintance thinks the bank may have let its experienced people go and hired younger, cheaper people to replace them. The young folks don't know what they're doing, so the bank slows down and the paperwork piles up.

I'm not so sure. It's more likely that the bank thinks the local real estate market is about to go up in the next couple of months, and is delaying the sales of foreclosed properties in hope of getting higher prices. It's playing dirty against the friend with the cash, but for the rest of us, it's a hopeful sign.

2 comments:

john said...

Homes-in-Stockton.com is an exclusive site dedicated to selling and buying homes in Stockton, California. The site has a huge database of listings for sale. The listings are even segregated community wise for quick and easy navigation. The site also offers tools for transaction calculations. It has thorough information for buyers and sellers and even offers marketing information and tools for sellers. The site also offers information on the home market in Stockton on a daily basis. The site has an expert advisor who guides buyers and sellers in their deals.
Stockton Real Estate California

lisa said...

If you would like to narrow your search, simply click on the Laguna-Niguel SEARCH tab above the list of homes on the right, and move the sliders to create your own custom Laguna Niguel Search Results! If you would like to SAVE your custom search, you may do that as well. Simply click on the SAVE SEARCH button, also located above the list of your search results. Here is a link to a wonderful site that discusses in depth the state of the real estate market in Laguna Niguel and the surrounding areas.

Laguna Niguel Real Estate