Last week of May, I had 3 inspections investment type properties. One 2 on 1 , duplex and 3 on 1 properties. All investors are becoming more aggressive on offers and more tolerant of property conditions. Two of the properties require some rehabbing. One was a short sale.
I was surprised to hear how many of my inspections in mid June are short sales. This is a big change since last year this time. Its refreshing to see banks are being somewhat more cooperative.
Several clients are grimacing over the steep pop in interest rates in the last few weeks. It certainly causing some pause in recalcluating the monthly payment.
California announcement of a New 90 day moratorium on foreclosure would certainly dry up the bank own properties that may put more upward pressure on pricing. http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/06/13/state/n165243D76.DTL
Have a great week!
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