If push came to shove, and we really had to, I might move for another job.

So the closing on the house I've had in contract has been pushed back again (second time).

So, I didn't push it.Now it is January and so far they have had an excuse each month why they don't have all the money by the due date.

To be honest I still don't believe the article and saw so much similar marketing pushed out there by the developers who did invest in those areas and wanted the greater fools to buy up their mistakes.

I would agree with everyone above saying Negotiate - but make sure all your ducks are in a row - really push the case, using BACKUP, that the value of the house is "X".

If we do a dormer or an addition this will usually push us up to around $60k-$65k.Hope that helps.

Under current conditions, with most rates being higher than current rates and other foreclosure problems, I doubt a bank or lender will be chasing you down demanding full payment, but if they did, you still have recourse and like I said, when push comes to shove, I never had it happen.

The buyers will likely undercut the market in terms of rent to get their units filled, which they will be able to do profitably because they picked up the properties so cheap.Between these two forces, it's fairly clear that any over-leveraged buy-and-hold investors may be in trouble, which will just fuel a new wave of market troubles.And while MikeOH is probably correct about entitlements ending at some point, the shorter-term reality is most likely that the government will reduce entitlements to stay in line with reduced market rents, which will push rents down even further.In other words, if you're a buy-and-hold investor, make sure you don't over-leverage, ensure that you can afford a drop in rents, and keep picking up cheap properties in order to "dollar cost average" your holdings.Personally, I plan to start buying apartment buildings in the next year or two, as I expect prices to be such that even with significantly reduced market rents, there will still be a great opportunity for cash flow and long-term appreciation.My my $.02...

After all theowners, three retired doctors pushing 80 years old, who owned the lots and buildings outright fully expected, I'm sure a low-ball offer and you short sale experts out there, I assume there are a few of you here, must surely think that in order for a transaction to be a "short sale", "it's your goal to short someone on the sale, right?"

They want me to push their product and I have brother up near Modesto who could sure use the help.