I know we all try to stay up to date on what is happening in the world of real estate... here's abit of information about real estate you might not have heard about on TV , the internet or newspapers…

AB957 is known as the “Buyers Choice” Act… If passed, it will require that the buyers of property be able to select the closing escrow company, not the bank (REO or short sale transactions), as they do now.

Thousands of owners are losing their property in short sales and foreclosures (REO properties), the banks have been dictating to the buyers who they are to use for the escrow company… (at the buyer's own expense).

This may be a good bill because in some cases, the banks are writing their own rules in the sale and closing of their REO and short sale properties… It's true that the banks are losing millions of dollars in all of these sales of distressed properties which are all upside down (or under water)… Rules are rules… We've abided with the rules of real estate for many years and now we have a few banks dictating all NEW rules to buyers, sellers and real estate brokers… NOT Good… it'll be good if this one passes…