So there are now less forclosed homes coming onto the market. With the creation of Calif. Senate Bill 900 which doesn't go into effect till 1/01/13 for primary residences but it is currently in effect if the property in default is a second home or rental property. So, this has stalled the process slightly to allow owners the opportunity to see if they can work out some other method to modify or short the home, dis-allowing a lender to 'double track' or expedite a forclosure.
Maybe the advent of the 'Bulk Sales' pilot initiative could also be having an effect even though this is currently in a specific area of the country and it is being threatened to spread round the state of Calif. and resultantly diminishing the supply of forclosed homes, we are all waiting with baited breath for any info on this.
The introduction of an opposing bill by Congressman Gary Miller is very much in order, since remember, this would be our tax dollars ultimatly funding this, AGAIN.
Another more 'Normal' occurance is that 'House Flipping' is taking place again. This is the best and most healthy business move I can think of. The investors are usually the 'Mom and Pop' sized team organically coming along and rehabing these foreclosed/trashed properties and making a clean living from their efforts.
But - there is also the latest creation of the called 'House Flopping' a whole new twist by those of a less honorable mindset.
Here is a great bargin with no Tricks involved just a shear Treat! and it's a property you will want to keep in the family for generations.
For all your Real Estate information and needs and even a few chuckles, call me!
I'm always glad to inform and be your BEST resource for Real Estate.
Whether it be in The Monterey Bay area or in Lovely Lake Tahoe.
Marlene Henderson, Broker/Owner/Realtor
MoeBEST-Henderson Properties and
Property Managment
831-429-9091 Office
831-419-9091 Cell
www.BestSantaCruzProperties.com
Have a safe and fun Halloween
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