[starfish923]

Thanks.
My ex DOES have a friend in the local Wells Fargo (It's a small town.) and the friend DOES let him know.
We missed a real deal last month by only a few hours. The ex wasn't as quick on the draw, as it were, as another buyer.

[ex-Texan]

When properties are selling below the 'previous market' value (as established by a formal real estate appraisal), you would be wise to move very carefully.

To lop off 30% at the outset of a very protracted decline in housing this early indicates more reductions are coming.

Enough of this debate that is going nowhere fast. I'm off salmon fishing. Bye Bye.

[pierstroll]

Of course I disagree with ex-Texan as anyone who's been awake in the last two hours may be aware of.

Investors are moving now buying into the California market. If you can get defaults or foreclosures.

A few things are projected in California. Population will double by 2060. San Diego is projecting a doubling within 25 years. Demand for housing is increasing.

The city and county of Los Angeles is moving to approve small apartments and mini-condos to accommodate low income service workers (guess where they're coming from?).

If you look at immigration waves in the past and population growth after the war, the ones who go to college and get good jobs will move to the suburbs. That's why Riverside County is projected to become number 3 in population in Cal counties.

In some areas of the country there is a gentrification going on down town. So prices may hold and increase in those city cores.

I guess the wrap up is you have to do your home work, set your limits, and go for it.

Much better that taking advice from some number tosser like ex-Texan or even me, two anonymous guys on the internet.