I just came from a blog where the headline stated "Can We Really Believe "California Comeback" Report?" and after reading the other posts I had to write the following and wanted to share it with you here!

"Wow, there are a lot of great posts here about a possible comeback, but we still have to keep in mind what a couple of the posters stated about reality. This is just for us realtors to keep in mind for our own personal knowledge, but I totally agree with the "It ain't over, till it's over" statement.

With all the moratoriums and holding back by many of the banks and institutions, I am concerned that we may not be seeing the full picture at this time and I believe that you can agree, can't you? I have, quite possibly, a unique perspective in regards to the situation, being a broker, appraiser, and co-founder of a nationwide valuations management company and hear things from all sides and it certainly appears to me that there is a major hold back of properties already foreclosed on and properties where the current owners are behind, but have not yet gone through the foreclosure process and this is what really concerns me.

How many are being held back and when will they finally let these loose onto the market? Will they all be let loose at the same time, or over a period of "?" how long? Unfortunately, there appears to be more questions than answers to these questions at this time, which leads us to the biggest question.

If there are still more foreclosures to come and they are holding back at the same time, what will happen when they all finally hit the market?

Okay, I am finished, as that last question is the key from my perspective, what about yours?"

Now, it was stated in the blog by one of the posters that part of the problem was due to differences in broker price opinions being completed by realtors and appraisals, but I can tell you that from experience, that either one can be right or wrong at any given time for varying reasons and I see the real problems in the data available.

There is such a mix of data available at this time with the extreme mix of sales, short sales, and foreclosure sales, that it puts everyone in a very difficult position of attempting to determine which is the best to use for each circumstance and then trying to obtain enough information on every property is another problem for everyone right now, especially in the rural markets, where there can be little MLS coverage, if any and then there are the government agencies that oversee the sales for recordation and I am not just talking about the recording of the deeds, but in the tax assessors offices as well, where some of these rural counties will only update their data once per year, yes, only once per year!

So what do you do with this kind of data or lack thereof?

Ed Justice, Co-Founder

Residential Values, Inc.

Visit my blog at www.brokerpriceopinion.us when you get a chance, look forward to seeing you there!