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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Murrey Walker who wrote (8500)	2/7/2012 9:16:23 PM
From: Sdgla	Respond to of 85487

Its happening already Murray. Most of the RE transactions here in So Cal are short sales and they take 3 to 12 months to happen. All the negotiating back and forth between the buyer and the note holders {Bank/lender appointed negotiator} take a significant amount of time... during which the buyers, most of the time, move on to better buys. Its really the gov thats holding the recovery up by trying to toss political favors at the voters which makes all parties act like deer crossing the road staring at the headlights. IMO thats why prices have sort of leveled out and not dropped another 20%. The banks are going to take a haircut one way or the other because there's somewhere between 5 and 10 years worth of existing and pending inventory out there... based on historic sell rates.