Upcoming Challenges Facing the Real Estate Market in Southern California

BY Sandra Knight

If you are like me and many other Californians, we could not wait to see 2020 come to an end.  What a horrible year? Who would have ever imagined, after the economic downturn of 2009, we would witness something even worse.  Not only were we quarantined indoors, unable to spend time with friends and families, it was also necessary to suit up to go out.  A trip to the grocery required masks, gloves, hand sanitizers and disinfectant.  Favorite activities like shopping, dining out and heading to the movies were no longer ways to relax.  Everything we heard on the news was about gloom and doom.  Dear friends and families were lost.  There was no idea if and when a vaccine would put an end to the madness.  Parents with school age children groaned each day their child was not in school.  Not only could you not get away from the kids for a moment, you now had to go online and help them with classwork.   Zoom and other software programs was the key to the classroom, to working from home or being able to participate in many things to stay engaged with the world.  My shoulder and neck hurt  just writing about it.    Who will forget people fighting over toilet paper in the stores?   Yet, despite all of the madness, there was another monster hiding in the closet. 

For home and property owners, the scary monster lurking in the closet is pre-foreclosure. This is scary movie we would rather not watch.  This movie is about mortgage payment defaults, forbearance, loan modifications, and short sales. Back in February 2020, two things stayed on our minds, staying alive and healthy and how long before the money would run out if we lost our jobs. One year later, the fear shifted to the possible loss of your home due to a permanent reduction in the flow of income into the household. 

At the time of this blog, much is still unclear about the economy, the Biden Administration’s efforts to bring relief to so many who have lost jobs and are at risk for losing their homes, and what role if any will the banks and government play in helping homeowners remain in their homes.  Should you find yourself facing a ‘New Normal’ perhaps the information pertaining to possible foreclosure will be helpful?  In a series of blogs we will cover the following topics and shed insight in to the financial impact of COVID 19.  These blogs are intended to get you to assess your situation and be better prepared to take action in a calm and informed matter.   The sooner you can visualize a strategy to return you and your family back to a state of normalcy, the better you will be to do take action, confident that everything will be all right.  You will be able to minimize fear, doubt and worry.  You will definitely need a ‘can do’, ‘we can get through this’ attitude to manage this stressful situation effectively.  The topics discussed here are some of the things to be considered as you move forward. 

Qwik Home solutions is happy to help homeowners navigate an uncertain future concerning their homes and their particular situation. Do not hesitate to call us at 1-800-319-7847, ext. 4 or e-mail us at 

qwikhomesolutions@gmail.com. We are here for you for a full consultation.