The Real Estate Market is in flux

iStock 000009162618Small 150x150 The Real Estate Market is in fluxI know it has been several months since I have posted, honestly it has been a blood bath out there and tough to stay focused. There have been lots of changes on the Real Estate front to have been beaten up over. The saviour of the Short Sale program was supposed to be the HAFA program. I am not sure that we are any better off than we were before.

Currently I have two JP Morgan Chase (one is a legacy WaMu) Short Sale, and a Wells Fargo Short Sale with all with First and Seconds with the same institution. Nothing seems to be moving forward any quicker than they used to.

I have a new business partner and office mate, Catherine Myers. She has been working on Short Sales for the last several years. I have followed her BLOG, Contra Costa Short Sales and together we have been attempting to education the public as to how things are really going with the Big Banks. What an up hill battle! Together we have turned out to be a pretty great team.

I have some additional thoughts on the market. So here goes.

Banking: Yesterday I came across this article in DSNews. I was suprised to read that an independent credit rating company, Weiss Ratings rated the nations banks and their vulnerability to financial difficulties and possible failure. Click herefor a review of the article. Reading it was very enlightening. It makes me wonder how these large banks are going to process their shadow inventory. Given the recent history with Short Sales and the public (myself included) starting to not care about the banks financial health, they seem to have a HUGE public relations nightmare ahead for themselves.

I also found an article from another source HousingWire. I am still waiting for more information before I admit mistake or error in judgement. It appears as if the Federal Reserve leaving the MBS Market didn’t cause interest rates to climb as I previously predicted. I personally think that the credit crisis in Europe and specifically Greece, has delayed the increase in Mortgage Rates. But again, we will see. Click here to see another public apology of someone who also thought rates were going to change.

I would be curious to hear what you all think about the market too. Feel free to comment, I would love to hear that I am crazy, or not…

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J. Rockcliff Realtors

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Danville, CA 94526

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About Greg Fielding

I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work.I also have started to do some paid real estate consulting. If you have questions or just need some good real estate advice, book an appointment at addition to selling real estate, my insights have been featured in The New York Times, The Big Picture, and regularly on I have also done consulting work with ForeclosureRadar.Starting my career, in 2003, I have sold homes throughout Alameda and Contra Costa counties, specializing in Danville, Alamo, Blackhawk, San Ramon, Dublin, Pleasanton, Walnut Creek, Lafayette, and Orinda. I live in Danville with my three kids.

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