I have sold properties in this community for 22 years. I have seen the property values rising at the end of 80’s and falling again in the beginning of 90’s & I remember selling al these bank owned properties and short sales. In that time there weren’t any loan modification programs & the homeowners were forced to sell the houses through short ale or to loose them in the trustee sale.

And again the same pattern started apx.  2.5 years ago and it was devastating to see all these homeowners in default. I believe we all learned a few lessons this time around.

• 1-Don’t buy a house if you can’t truly afford!
• 2-Don’t trust a “too good to be true” loan program!
• 3- Don’t borrow again you equity so much!

That said; now let’s concentrate on today’s market. I feel the market is turning around. There is a big demand of housing in our area, recently  every e bank owned property that I have put an offer for my clients have received a minimum of 10-15 offers  and the chance of buying a house for an average buyer is very small compare to an all cash investor.