Friday, April 13, 2007

The whole state is going to be foreclosures



From the current edition of Bakersfield Magazine just out on newstands, comes an interview with local realtor Betty Byrom. This magazine has no online link for the story, if you want the whole article you will have to pay $2.50 for a copy or just go to Barnes and Noble and read it for free.

Here are some highlights from the Q&A section:

You have been called the "Queen of HUD". Do you still specialize in those
kind of sales?

There is no HUD now, hasn't been any HUD for the last four years because the market was crazy. When the market's good there are no foreclosures but there will be. This whole state's going to be foreclosures (soon) so I'm starting campaign now.


What is your view of the current real estate market?

Its a little below normal. I think it has almost reached bottom. I knew it was coming 15 months ago, told all my investors if you're going to sell, sell now. All those crazy loans people did, the repos are going to be horrible, but it's mostly going to be the upper-end ones. I think it's going to be the more expensive ones - your million dollar houses are going to see it first.


Will it continue to grow as it has in the last few years?

No, because we have too much inventory now. We have always grown a little. But we are not going to get any big industry in here as far as I know. We grew when we were affordable; we're now almost as high as the rest of the state.



3 comments:

Perfect Storm said...

The central vally will be foreclosure capital of California. All the moron investors were fooled by the population statistics put out in 2000 abouth the growth, however the population increase will consist mostly of undocumented workers and those who want to work in the meth lab business.

The investors bought homes all along the Central Valley and now are screwed. They actually thought that buying anywhere in California was like finding gold in the street. Fools, fools, fools, they were conned by the REALTORWHORES AND THE MORTGAGE SCUM BAITS AND NOW THEY ARE SCREWED.

I HOPE THEY GO TO THE POOR HOUSE!

Realestateslasher said...

Boy O Boy looks like greener pastures headen our way

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