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Short Sales Popping up Everywhere on The Westside of Los Angeles
invite response
2012 Jul 6, 7:52am 1,687 views 2 comments
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PockyClipsNow
2012 Jul 6, 9:21am
Pocket Listing Millonaire Realtorz being minted as we speak!
LA real estate is so corrupt, im sure theres tons of 'outside of escrow' cash payments to agents to get steals - then they flip em and split even more money.
I still dont see how that is fraud, the bank is free to foreclose and list it as REO with thier own honest team of agents. They can see the comps and walk the property before they accept a short sale offer - but they dont care due to taxpayers eating the loss. SO its cheaper to let a crook sell a pocket listing short sale to his buddy for 200k under market. Awsome ?!?
(remember, a home is only an investment vehicle to get a big pay day without doing actual work, nothing more!)
lostand confused
2012 Jul 6, 9:31am
Now that I am returning to CA, am looking at rentals/houses. Rentals are expensive. I am looking at houses in socal and prices seem quite -well reasonable? I am looking in the Conejo valley area and saw these for sale. Just looked at yahoo real estate, Thousand Oaks and under 500k-which is a pretty decent area and saw quite a few homes under 500k and several under 400k. It is lower than rentals . But 350-390k for a SFR in the area is not bad. The job situation is bad, so who knows how low it will go, but didn't think I would see prices in this range.
Short pays are now the name of the game on the coveted Westside of LA. From Malibu to Beverly Hills, we are seeing more and more beginning to dominate different neighborhoods. Are banks releasing more, now that the pool of organic sales has dried up to a trickle? We are now seeing discounts from 25% to more than 50% in prime locations.
Just think what the real estate landscape might look like after the presidential election.
www.westsideremeltdown.blogspot.com
#housing