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I received a telephone call last evening from an individual identifying himself as an AT&T Service Technician (could also be Telus) who was conducting a test on the telephone lines. He stated that to complete the test I should touch nine(9), zero(0), the pound sign (#), and then hang up. Luckily, I was suspicious and refused. Upon contacting the telephone company, I was informed that by pushing 90# or #09, you give the requesting individual full access to your telephone line, which enables them to place long distance calls billed to your home phone number. I was further informed that this scam has been originating from many local jails and prisons DO NOT press 90# or #09 for ANYONE. PLEASE FORWARD THIS ON TO EVERYONE YOU KNOW!!!
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If you have been following the Real Estate Market to any degree in the past 6-7 months, the sheer amount of information with headlines from "Mortgage Meltdown" to "168 Billion Economic Stimulus package" is positively mind-numbing. Moreover, when was the last time you heard a Realtor tell you it wasn't a "good time to buy?" Specifically in California, where housing tends to cost a tad more than other areas, will raising conforming limits on loans help the market here ? maybe. The question I have is this: Since inventory here in Los Angeles County has basically doubled from last year's levels, how long will it take to get levels down to more "normal" levels? At the moment, we have 12-18 months worth of unsold homes depending on your neighborhood. The reason I am asking is that I constantly hear radio commercials pronouncing "it's a great time to buy" versus bubble-bloggers declaring the end of civilization as we know it. So am I really doing my job by telling my friends now is a good time to buy? of course. But do I also preface said statement by warning them prices could go lower? Definitely. It is true rates are the lowest in about 4 years, but with this proposed "Economic Stimulus Package" who really knows what will happen? Will the foreclosure situation get worse and add even more unsold property to the already ridiculous levels of inventory? or will it stabilize? Here is another question: As the stock market goes down after going up for the last six years, will that shift investment dollars into Real Estate?
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