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Real estate investors are betting on bargains in depressed markets

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2 Big 2 Fail
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Mortgage meltdown: Vulture investors
Real estate investors are betting on bargains in depressed markets they think are ready to bounce back.

"The smart money is thinking about buying there right now," says Martinez. "It may be six to 12 months early, but it's a good time to be searching for deals."

Local housing markets that have fallen far, yet have the potential to recover soon, are ripe targets for "vulture investors," who buy cheap in the hope that prices will rebound.

http://money.cnn.com/2007/09/24/real_estate/vultures_circling/index.htm?postversion=2007092711

September 27 2007 - US

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Space Acer
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"Local housing markets that have fallen far, yet have the potential to recover soon, are ripe targets for "vulture investors," who buy cheap in the hope that prices will rebound."

Lets test that theory! Drop knife on Alpine and see if he catches it.
Are you game to test that theory? Who the (BlanK) are you kidding Mr Realtor! I see your fishing for fools once again.

September 27 2007

2 Big 2 Fail
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Sorry, but I am not a realtor. I work for the government.

September 27 2007

Space Acer
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And I work for Santa Claus... Your on the short list this Christmas ...

No soup for you!

September 27 2007

Roberto Ribas, "azrob"
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Roberto Ribas, "azrob"

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Zillow All-Star

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"smart money" i loved that line in the article; who cares that rents in the bubble cities are also plummeting, and fla insurance and taxes are charging ahead! I would love to see what the ROI looks like on condos in Miami now/ 2 years from now...

September 27 2007

Space Acer
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Surfing the internet on tax payers time and money!

No soup for you!

September 27 2007

2 Big 2 Fail
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Rents in many cities are up, actually.

September 27 2007

Space Acer
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There you go again... adjusted for inflation its been flat compare to 10 years ago... Silly Rabbit tricks are for kids and realtors alike...

September 27 2007

Agent Smith, "WillSell4U"
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Agent Smith, "WillSell4U"

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Realtors are what keeps the country running. They play a major role in the economics of the country.

You need us.

September 27 2007

2 Big 2 Fail
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ok, if it makes you happy space acer, I will admit that I am a successful real estate investor in a small town in NJ called Alpine. I am in the picture in the article below:

http://www.nytimes.com/2007/07/22/realestate/22frick.html?ref=realestate

Sorry for deceiving you the entire time.

September 27 2007

CORONA NICK
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Agent Smith, you mean, you need buyers and sellers, not the other way around.

September 27 2007

Space Acer
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"Realtors are what keeps the country running. They play a major role in the economics of the country."

Oh that a riot! Come on! Your making my belly pop with laugher!!!!!!
Oh Stop! that too much! We should elect Lereah for President one day!

BAHAHAHAHAHA

September 27 2007

Space Acer
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And Im GOD Almighty... sorry no website link!!!!

Just a say a prayer tonight... I might be around...

September 27 2007

teardowns dotcom, "Teardowns.com"
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teardowns dotcom, "Teardowns.com"

Greenwich, CT

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Alpine NJ = $$$

At least, from what builders tell us...lol

September 27 2007

Space Acer
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Alpine NJ a model town for every city in the US.

All we have to do is be a rap star or a primadonna sports athlete...

After all thats all you will find in Alpine, NJ! I sure hate to see

people not buying rap CDs or not going to sports events...

Is that guy really worth $50M because he can bounce a ball or

sing about busting a cap into a cop ? Yea! some reward system.

September 27 2007

2 Big 2 Fail
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Prices in south Florida re going to collapse with inventory numbers like these. Those investors are playing with fire.

Miami (from realtor.ocom):

There are 44,578 available properties in Miami, FL

Property Types:
Single Family Home (11,797)
Condo/Townhouse/Co-Op (22,033)
Multi-Family Home (1,246)

They don't call Florida Housing Crash Central for nothing.

September 27 2007

2 Big 2 Fail
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Who are you talking about space acer? The guy in the article I posted is a real estare investor who owns 75 apartment buildings in the northeast. He is not a celebrity.

September 27 2007

Space Acer
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Look up Alpine in Wiki!

September 27 2007

CORONA NICK
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Your point Alpine???

September 27 2007

Agent Smith, "WillSell4U"
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Agent Smith, "WillSell4U"

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Corona, Love me, or Hate me,
but at the end, you need me.

September 27 2007

2 Big 2 Fail
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Ok, I am convinced that prices will never fall in Alpine. Why? Because even the foreclosures in Alpine are mucho money. Here is one from the sheriff's office:

9/28/07 20 PIKE STREET ALPINE $1,573,485.58

http://www.bcsd.us/sheriff_sale.aspx

As far as I can tell, this is the only foreclosure in the entire town.

September 27 2007

teardowns dotcom, "Teardowns.com"
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teardowns dotcom, "Teardowns.com"

Greenwich, CT

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Alpine, how do you feel the current market is in Bergen these days?

September 27 2007

2 Big 2 Fail
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I really do not have that much information on the Bergen market. But the waterfront condos in neighboring Hudson County (Hoboken and Jersey City) are selling well:

Update on % sold from Robert Toll:

http://seekingalpha.com/article/45366-toll-brothers-f3q07-qtr-end-7-31-07-earnings-call-transcript

Joel Locker - FBN Securities

I just wanted to get your comment on the 700 Grove Street. You had mentioned that Hoboken was B plus markets, but just wondering if that differentiated between the Grove Street and your other project there?

Robert Toll

Pretty much same. Let me see, 70% sold at 1500 Washington, which is Hudson Tea, 72% sold in Harborside Lofts. Commencing design, commencing design, future building completed, garage. Oh, I see. Wait a minute. Maxwell, 78%, 97%, and Jersey City, 84% sold out.

September 27 2007

LongIslandBubble
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LongIslandBubble

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The smart investor listens to the market to decide when the time is right, not listen to some editor (or Allpain) to tell them.

The smart money is always the first that goes in to a rising market and the last to get in when it crashes.

September 28 2007

LongIslandBubble
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****Robert Toll

Pretty much same. Let me see, 70% sold at 1500 Washington, which is Hudson Tea, 72% sold in Harborside Lofts. Commencing design, commencing design, future building completed, garage. Oh, I see. Wait a minute. Maxwell, 78%, 97%, and Jersey City, 84% sold out. ****

Allpain:

http://www.forbes.com/feeds/ap/2007/09/18/ap4132392.html

But Toll, famously optimistic about a housing rebound that has yet to materialize, poked fun at himself, telling his audience that "anything I say should be viewed with suspicion. Use your mind. Don't believe me."

September 28 2007

Jarrod Chambers, "Gallo de fuego"
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Jarrod Chambers, "Gallo de fuego"

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Man, this is where I should have been today. "Smart Money" buys when down, "Dumb Money" all the whiners that don't know what to do, cause they over baught.

September 28 2007

2 Big 2 Fail
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Bubblehead,

The statistics that Toll provided are indeeed correct because countless condos in those building have already been successfully flipped for 6 digit profits. I have seen the records.

September 28 2007

Callista, "warriorprincess"
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Callista, "warriorprincess"

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"Flippers" in my area are, unexpectedly, flipping right into piles of dog s**t.

http://flippersintrouble.blogspot.com/

September 29 2007

klarek the realist
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"Ok, I am convinced that prices will never fall in Alpine."

LOL

October 21 2008

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