...It depends, but mainly bad. Those of us left behind will have to contend with empty houses, unwatered yards, and unpaid condo association fees. And that will have a depressive effect on property values. So if you're a seller, my advice is to sell your home within the next six hours.
But if you're a buyer, here might be your chance for some real bargains. Houses don't hold up well when they sit empty, so plan on doing some fixing. Hey, maybe this is an idea for a new HGtv show -- how about "Fix this Rapture"?
And if you're a bank, you can look forward to getting your oily mitts on yet more property when you have to foreclose on all these empty homes.
And if you're a Realtor, you will not be getting raptured (except for maybe a few of you in Texas), and there will be plenty of houses to show and sell. Begin courting bank asset managers today to position yourself as a post-foreclosure rapture specialist!
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
Well, thanks for sharing this very interesting post. I've got an idea about raptured in real estate market.
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