Positive Real Estate Professionals

It has been reported today that the state of California is considering placing a three month moratorium on all foreclosures. What this means is that a homeowner could have up to ninety days to get their financial situation in order. Immediately after this was reported there was a soundbite interview with a Los Angeles Realtor who dismissed the idea out of hand. He said that this plan would merely delay the market from hitting the bottom. I think this pessimistic Realtor is wrong on many levels.

This moratorium could give a homeowner the necessary breathing room to concentrate on finding a job if they have lost their job, or the opportunity to list and sell their home if that is the path they choose. Three months of no foreclosures could give the market the time needed to correct itself. Instead of discounting every idea and looking at every opportunity from a negative perspective, we as an industry, and we as a country need to look at these possible solutions. Inaction and negativity will not help people to move forward from despair.