Hold on folks it may be a bumpy ride!

I am attending REOMAC – a conference for lenders, mortgage servicers, title and real estate professionals involved in selling bank owned properties.  Very enlightening.  General consensus is that we are 1/3 of the way through the cycle and a turnaround is not expected until 2012 – 22013.  Keynote economist suggests prices in California are still too high.  Prices will fall until the average wage owner can afford an average home.