I understand there is still a huge risk that I could lose my money, but at least I have something (the property) to sell to try to recover some of my investment.

I've used this successfully to recover money owed, along with penalties for my trouble.

I had this happen a number of years ago, and the lender did not just want to cover the extra amount, I had to do many follow ups to recover the added fees back into the escrow balance.

I know those areas take the biggest hit during the downturn and are last to recover.

We have have a few short sales this year where the approvals took so long that by the time the approvals were ready the market corrected and the properties were no longer short.Our market ( S.Calif ) is recovering fast and the need for short sales now are much fewer but still an option for some sellers.

My experience was that the bubble burst sooner in HI than in the continental US and recovered very quickly.

The markets here is WA are definitely heating up quickly with prices recovering.

Our fund's CEO is a former (recovering?)

This instrument shall become effective as a contract and binding when signed by both Landlord/Seller and Tenant/Buyer.(14)SPECIAL PROVISIONS:(A)The Landlord/Seller will complete the following by:__________ [Day] _______________________ [Month] ____________ [Year] or this Lease/Option agreement will become null and void and all monies disbursed by Tenant/Buyer will be immediately refunded by Landlord/Seller or at Tenant/Buyer option, these items will be completed by Tenant/Buyer and the cost of the same will be recovered as provided for in paragraph (12) in which case this Lease/Option will continue in force.

Auckland has around 25% of the whole population, and christchurch is recovering from our earthquakes he had in 11-12, you will love it here good market or not, very nice place to visit.