Real Estate Investor · Riverside, CA · Member since 2013 · 42 posts · 8 votes
CA may have dropped out of first place in foreclosures according to our local paper. The Homeowner Bill of Rights, which took effect on january 1, may be partially responsible. BP investors are out on the cutting edge of purchasing, so I thought that I would ask CA investors about the extent to which you anticipate that this law will impact your purchasing in 2013? I'll try to post the link... http://blog.pe.com/real-estate/2013/02/15/real-estate-will-the-big-drop-in-foreclosure-ricochet/
It's tough to know for sure if the drop in foreclosures is a result of HBoR, or just banks holding back while they watch the value of the homes secured by their bad loans rise. My purchasing will be impacted as a result of lower volume. Can't say for sure that is attributable to the new law though. I just keep expanding geographical territory and look a little harder for deals. Seems to be working so far.