“I wish I could get away with one of these transactions in San Diego.”

It’s too soon here, Wait until 2010-2011 and you might.
Once the market bottoms, it’s going to be flat for awhile.

So many people will have lost homes and will not want anything to do with purchasing one. They will be the bitter renters of the next decade…with a rental that they can actually afford.

The market isn’t going to bounce 10% or 20% off of the bottom quickly. There will be deals, even for those who need loans, and you may have more to choose from than you can imagine. Most people still wont have cash for a decent down.

Once the majority of ARMS stop resetting the first time, and the neg am loans are cleaned up, it will settle down.
It just takes patience.

If the govt continues to come up with more delay tactics to stall the fall, it’s a different story.