Very well said, Bill. I agree 100%. It's sad that the banks dont care when so much is at stake for these people who only want the american dream.

The tail still appears to be "wagging the dog."

This is a problem....but only one of many......

Additionally:

Are banks working seriously to modify mortgages for those home owners that are in trouble?

Are "short sales" with offers being handled responsibly?

To answer your question, there will be additional homes coming onto the market but under the current circumstances, we should be seriously concerned with if this is going to happen prior to the "First time buyer incentive" expiration.

It may be time for concerner individuals to be in touch with their representatives on this topic.....the clock is ticking, and banks just don't seem to care.

Hi there,

Well..there is another wave of foreclosures that will be hitting the market in 2010. They have not been able to estimate if the wave will be one big wave or small waves of foreclosures. However, as is the case now, all foreclosures are going pretty fast..this may be the case later on as well. And on top of that, the interest rates are already going up so if you wait too long, you might price yourself out compeletly. Tell me what parts you are looking in and I'll try to see if I can assist you.

Your problem is a very common problem amongst buyers right now so please dont worry. A lot of others are experiencing the same thing. Please feel free to call or email me anytime.

Kamal Randhawa
Broker
510-932-1066