see post # 10. I'm in Orange County right between LA & San diego. We've lost over 10% YTD. 95% of all props here under $550,000 are REO's or Short Sales. Hard to even find an equity based seller under that price.
Short Sales taking over 3 months wait from seller's lender tells me the SS's will all be REO's sooner or later. Watching also to see if foreclosure notices begin to increase into the summer months from rate resets earlier in the year.
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