Housing Alert! Santa Cruz County Double Dip Real Estate is now here!

My active readers won't be surprised by this Housing Alert. I hate being right about such predictions.  

For well over a year I have predicted...housing is taking a double dip..It is almost Halloween and the second dip just started coming up in our stats and the foreclosure freeze mania has pretty much sealed our fate.

The big guys like Gary Shilling is expecting prices to drop another 20%! This will result in up to 40% of all homeowners being upside down in their homes. Santa Cruz County Short Sales are going to be dominate the landscape of this county's real estate market.  I believe by March of 2011 a home in Santa Cruz listed today for $600,000 will lose another $100K....by spring if you don't sell it now.

The cycle continues. More depreciation leads to more underwater owners...leads to more ‘distressed sales'. More distressed sales results in more depreciation. Where will this end...no one knows.

What IS known is that real estate professionals who know how to do Short Sales will be in HUGE demand. You cannot find a better Short Sale agent to sell you house that is now 40% underwater.

20% added depreciation