The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (1208)	12/17/2001 9:41:24 PM
From: endless	Read Replies (1) of 306849

Here are my lay person observations on certain areas in the LA market. Prices have come down slightly, there are no fire sales (at least none that I know about), there is, however, a big selection of homes on the market. Last year and the year before there was virtually nothing on the market during this time, mostly junk. Even though properties are taken off the market without a sale there are new ones coming on. There is also a big selection of homes for rent. I track $500,000 plus to a $1,000,000 on my spreadsheets for areas of our interest ( I have a lot of time on my hands...). We are looking for something around $ 550,000 - $600,000, which is still low inventory but notably better. Pretty unbelievable, hey? This is what we could comfortably afford...providing my husband stays employed... So no "diving in" here. How important is continuous employment history for loan applications? Anybody know? Are they gonna give people a break if they can't show for 2 years continuous employment but are currently employed?

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