Forget Foreclosures California has Bigger Problems

Forces much more powerful than the subprime meltdown and the explosion of foreclosures are threatening the health of the California housing market.

The other day at a presentation by the California Association of Realtors, I heard Guv Hutchinson (head legal eagle for the association) make a statement that could be interpreted to mean that a significant number of homes in California may never be able to be sold.

It seems that there are three situations that require a seller to disclose to a buyer certain information that may scare the buyer away from the deal.

• One is that someone has died in the house within the last three years.
• Another is that the house has been a "meth-lab."
• The third situation that requires disclosure is that the house is haunted.

That's right, if the house has ghosts, the seller must inform the buyer of such. Of course, no buyer in their right mind is going to buy a haunted house to live in, which brings us to the fact that more than 14% of homes in California are know to be haunted.

To prove it, I've taken a few pictures from one neighborhood which seems to be seriously infected with ghosts.

If you're looking for a good deal on a house, now is the time to buy - while the sellers have to disclose the presence of ghosts on the property. This fact will surely help drive the price down.

Somthing to consider before all the decorations are put away untill next Halloween!