Saturday, January 5, 2008

My Buyer Bails Out

I found out yesterday that the house I am trying to sell in La Canada likely will fall out of escrow. The buyer grew nervous after septic tests were only partially successful. You see, La Canada doesn't have sewers, so septic tanks are an issue in every sale in the Flintridge area of town, which was where I lived.

Panic has not set in, though. In the four months I've been following the Laguna Beach real estate market, I'm more convinced then ever that prices will go down to the point where I can get a pretty good house without the need to sell the old house, which I can rent out.

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