No word can explain the current LA real estate market.

I went back to California from Texas. It has been one month for me to personally submerge into the current Los Angeles real estate market. A refreshment?!

I swear to myself that I would not say anything before I have some ways to get along with the market. For now, all I want is just sit tight, observe what the market is functioning and doing some purchases and investments. Hope no extra word of opinion out of mine.

One month watch leaves me a very impressive and confusing image on Los Angeles market. It is incredible to believe what could be like this, out of the housing bubble and Bernanke-Paulson-Gaithner‘s policy. What kind of monster is out of there? I wonder if a decent traditional real estate market does exist in terms of conventional wisdom, foreclosure, short-sale, justice and mortgage banking laws.

Using a foreign language to describe the current maze situation, such as "Shonda" is not good enough (please see Mortgage crisis is crying 'shonda'.) Not only it is still too foreign to me, but it confines itself within the angle of hindsight. It is not good to portrait the "REAL" pictures of the status quo, let alone the foresight, solution or predictable game rules.

If I have one word to say, it is "LP." In Taiwan, it is the word bearing a sense of "barbarian civilization." It will make the term of "jungle" too polite when a civilization meets this hard-to-explained situation.

What I mean exactly? It is difficult to imagine and explain what kind of real estate market the current Los Angeles is. Well, I believe nobody with reason can interpret the LA market without difficulty. Sometimes I have very difficult time to see what is going on like last night when I received two “addendum” from a REO banker in one day. The first email was revoked when the 2nd one arrived in 30 minutes.

I was so frustrated that I don't even know how to reasonably response or proceed. While the REO banker has totally ignored the original 8 page CAR form my agent presented, its asset management gave a brand new "addendum" as its counter offer or contract. Ann, the bank asset manager, is insisting on conveying the title to the property by a "quitclaim deed," even she orally and in her emails agreed to use "Grand Deed." However, in the last two addendum, she still insist to include the "quitclaim deed" in the contract and says that is the bank form which no outsider is able to change without its legal department's permission.

I have no enough reasoning ability to see why she or the bank lawyer wants "quitclaim deed" in the contract on the one hand, and, on the other hand, they claim all their transaction are done by a "grand deed" with no exception? They even went so far to admit it is illegal to use a "grand deed" in their transaction. But if the bank is not going to do "quitclaim deed," what is the big deal for the banker refusing to take the term "quitclaim" out of the contract? Does any my fellow agent understand the rationale behind this? Dealing with this banker, only this nonsense issue is enough for me to rush out for Rolaids. (NOTE: l don't want to mention other issues, such as the bank's right of unilateral termination to the contract. To rebut the "illegal" claim of their usage of "quitclaim deed", I may release the legal form of the attorney later for my agent fellow to review.)

Is it totally insane, irrational or crazy, or may be I should be not so strong to say, different from what I am used to. Hum, am I too old for this brand new ball game in the E-ages?

With the Californian judges denying gay community the marriage right, I am also wondering what is so important for them to fight to death, when some people decide to love and live together without a legal license? Hum, am I an old-fashioned? Am I normal or abnormal in facing the Los Angeles new game? At least at this moment, I have to think: By who’s definition of normality or the law of cause-effect?

I wonder, it would be much easier for Hilary Clinton to face and react to the recent behavior of North Korea than I am going through the Los Angeles real estate phenomenon.