Flood of foreclosures to hit the housing market.

[ayo4yayo]

Yup, right about 2006-2007 i also started seeing people all of a sudden claim they were "loan officers and real estate agents" when their previous occupations in 2005 were in the retail industry and fast food? ha ah hah i knew something was up...

Majority of them were loan officers. Real Estate Agents actually had to go to an accredited school. Take a test that was administered by the Department of Real Estate and pass it to get certified and licensed.

The agents just showed home buyers with the property they could "afford." The banks were the ones pre-approving everybody and they mama.

 

[MobbinINda916]

I know this dumb ass lady that bought 3 houses in Sac when they were handing out loans to everybody, so she thought she was gonna make a profit by renting them out but she lost all of the houses and then lost her job.

 

[vinylfiend]

Its tough trying to buy a house in parts of silicon valley. Im trying to buy in South SJ and its competitive market right now, all of a sudden in the past month or two theres been bidding wars on homes in the 4-500K range. I gotta check MLS everyday and be up on it if im gonna get a chance.