Bulk Sales Revisited
This past week, I made the trek to Sacramento for the California Association of REALTORS® business meetings. And once again the hot topic was the bulk sale proposal from Freddie and Fannie. You may remember that a few months ago I told you about Lance Martin (REALTOR® extraordinaire) who almost single handedly led the leadership of CAR to make the decision to lobby against this program. While CAR has sent emissaries to Washington to address the issue, and spent copious amounts of money in print ads in an attempt to rally the public support in opposition of bulk sales in California, it appears that we could in fact be fighting a losing battle. I say this because of the view on the horizon (let me explain). Seven years ago, we were in an incredible real estate market, prices were rising quickly. The average buyer could afford an above average home. And, there was nothing but blue skies all around us. But on the horizon, the companies who had always been there when the market c