Reply With QuoteIt is a great time to Hold onto cash (limit toy spending) and enter the housing market when you think the trend will turn.
1. timing is critical again
2. Pick the right house that has what people like (RV Garage).
3. Location Location Location
Yup...unfortunately.
It is a great time to Hold onto cash (limit toy spending) and enter the housing market when you think the trend will turn.
1. timing is critical again
2. Pick the right house that has what people like (RV Garage).
3. Location Location Location
I am not seeing a big change in the asking price yet. I have only seen IMO homes that are way to over priced going down a little. One that I looked at was cut $45,000 but this only put the price closer to what they payed for it less then 2 years ago. Until I see prices that are more in line with a slow market I will be waiting.
Keep your head in the sand...its safer there.
I hope you're right, but everything I read says its getting worse. Eh, What do I know, I've only been in the REO business for 15 years........
Wow thats a long timeIts funny according to most of my friends its been a bad time to buy since high school. (20 years ago.) Well thanks to thier ignorance (and yours) I got EQUITY!!! and stability. Sorry your lifes so tough mr gloom.
The Havasu Real Estate market has had a sudden change, or I should say spark of buyers -The Canadian dollar is up, our market is down and we are seeing a change with contracts and offers coming in.....
Sucks for us! The dollar being down hurts us more than most people know. A little up tick in foreign investments will not compensate for the higer prices in all consumable goods that we all pay for.
The Havasu Real Estate market has had a sudden change, or I should say spark of buyers -The Canadian dollar is up, our market is down and we are seeing a change with contracts and offers coming in.....
Yup a big story about htis because of the $ value.
http://www.msnbc.msn.com/id/21739273/
Take it while you can, unless the dollar totally collapses and we go euro then youll be set
Bad thing is guess how fast they pull out and leave even more empty houses.
Wow thats a long time
I can make it simpler for you. Its not a great time to buy when values are decreasing. A real estate investor will make more money by buying at times when the market it distressed. Then hold the property until the market goes up. It runs in cycles you see.
It depends on what your goals are. If you don't intend to sell it, then the market value is irrelevant to you. As long as you can afford the payment and you feel you are getting the value of use out of it, then that's great.
If your goal is to make money off of it, either through rental income or flipping it in a few years, it is logical to try and buy it at a time when prices are down, rather than at their peak.
Ignorance.....I think not. Experience. I've bought and sold many homes and currently own several pieces of property. I am glad you have equity. Stability, you must have a fixed payment and no need to buy or sell.
Wait a while longer before you buy, if thats your plan. I suspect you will be getting better deals in the months ahead.
I am not gloomy about foreclosures. I think they're great. The worse things get, the more my business makes!
I can make it simpler for you. Its not a great time to buy when values are decreasing. A real estate investor will make more money by buying at times when the market it distressed. Then hold the property until the market goes up. It runs in cycles you see.
It depends on what your goals are. If you don't intend to sell it, then the market value is irrelevant to you. As long as you can afford the payment and you feel you are getting the value of use out of it, then that's great.
If your goal is to make money off of it, either through rental income or flipping it in a few years, it is logical to try and buy it at a time when prices are down, rather than at their peak.
Ignorance.....I think not. Experience. I've bought and sold many homes and currently own several pieces of property. I am glad you have equity. Stability, you must have a fixed payment and no need to buy or sell.
Wait a while longer before you buy, if thats your plan. I suspect you will be getting better deals in the months ahead.
I am not gloomy about foreclosures. I think they're great. The worse things get, the more my business makes!
Sounds like a good way to make money in real estate or you could buy and hold and have "EQUITY!", just hard to retire and pay bills with equity.
I heard renting for profit is not easy though?
prices are still too high to buy with a low down and rent out for positive cashflow. I used to be able to pick up a duplex or fourplex for a reasonable price. Rehab it, rent it out, and refi all my money back out, and still get positive cashflow! Those days are long gone.
Who would pay so much for a rental property that they go negative every month? And if its not appreciating and actually dropping in value? Its silly.
Prices need to get back to where they belong, and its going to happen. And it won't be quick. Its not gloom, its reality. Every one complains about how housing is so expensive.....well now the prices are coming down and we still complain... kinda ironic I'd say.
Year over year double digit price increases are just not sustainable, nor should they be.
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