South Bay Homes and Real Estate

I can’t help feeling a little smug… Robin Hood style…about short sales!

For the past eighteen months I have helped homeowners sell their homes “short”…for less than they owe. So many stories have circulated about how foolhardy these borrowers were to get into loans they cannot afford. I am shocked at the level of naiveté in this attitude as the vast majority of my clients are anything but foolhardy. In fact, many of them are truly heroic – trying hard to achieve a level of “success” that home ownership conveys. Many of them leaving the home as soon as they can no longer make the payments…and leaving it in wonderful condition.

I have developed a bit of a Robin Hood ‘tude towards these deals…taking from the rich and giving to the poor.  The poor are current first-time home buyers. For the past decade these fine folks have been out of the market in the South Bay. Either by choice or because of the high prices, they have not bought a home. Now, with Torrance prices falling over 20% and so many foreclosures throughout the South Bay, it’s a great time for them. And the loans that these buyers are getting are nothing short of phenomenal…many with 3% or 5% down.

Yes, short sales are lengthy and messy and many fail to materialize. But, they cannot be overlooked for buyers seeking great home values in the South Bay!

Rocky Rockwood is the father/son real estate team of Mike & Ryan Rockwood. South Bay home buyers and home sellers can reach the Rocky Rockwood team at 310-809-0203 or ryanrockwood@kw.com.