Casa By Owner's Discussions
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Casa By Owner wrote:
I envy those who are waiting it out and renting!
One last thing, AzRob, personal attacks, doesn't bode well for you or anyone. Lets just stick to observations and facts, and keep the personal attacks out of it. You choose to see the glass half empty and I choose to see it half full. We can agree to disagree. Thanks for your imput.
I envy those who are waiting it out and renting!
AZRob
Not only am I aware of the foreclosures in my area, I make a point to check the local foreclosures the county has every month. Of course they are up, I never said it is rosy here. I just said it is NOT as bad as people are reporting and if your a smart buyer, you can do ok in this market. Its the people who bought impulsively and bought a home they could NEVER afford that are doing bad. I am sorry for those people, its not necessarily all their fault, many are to blame. I don't agree with your cynical attitude, I think you can buy and sell in this market and do ok. It all depends on if you were caught in the mania of buying a home, with multiple bids and bought it at whatever the cost just to get in a home, because rates were cheap and loans were easy to obtain. Agents, lenders and home buyers were having this party, gone wild, did you ever think it would never end? Now people are crying and moaning because of this market. Tough cookies, a lot of agents, lenders and homebuilders made a lot of dough, now for some, its time to pay the piper. I just feel bad for all those home owners who are upside down on there home values. They are the ones stuck holding the bag. The banks will recover, no doubt. The Fed will see to that. But the home owner, thats another story.
I envy those who are waiting it out and renting!
Compared to last year, of course we are slow. But over all, we are back to normal levels. I see markets in the long term, they have cycles. We are obviously in a short term down cycle. I don't see it lasting forever. A lot of this doom and gloom is perception and not reality. The media is really contributing to this, plus its an election year, politicians want to bring out the worse and of course the media feeds it. How else will get ratings?
I envy those who are waiting it out and renting!
AZ Rob, that may be the case in your area, but NOT the case in mine. Sorry you chose to live in a state where people went crazy buying up prices. That didn't happen here in Tx. We are back to a normal real estate market here, as far as supply and demand. BTW, since you seem to love to post statistics, care to post the link you are using? I would love to see it.
I envy those who are waiting it out and renting!
You can still make money in this market, if you bought right. Even during the height of the bubble in my area (2005), I found a home, FSBO, which was about .54 cents on the dollar. If I sold today I would net about $85k. The key is to buy it right, regardless of market conditions.
Is it a good time to purchase a home?
As you people in the industry love to say, "all real estate is local". In my neck of the woods, it is slow, no doubt, but prices have remained stable, I live in Texas. Some are starting to look very attractive, actually. BTW, Warren Buffet is not a real estate investor, that is NOT his forte. But his philosohy still holds true, buy when no one is buying and the fear is so palpable, and sell when everyone is buying. I tend to be a bull, and for those bad news bears out their, keep whinning and crying on the side lines.
Is it a good time to purchase a home?
I actually agree with Marc, on this one. I am looking to buy a property right now, prices are getting too cheap. The smart money always invests like a contrarian. Any market, be it real estate or the stock market, savvy experienced investors always jump in, when NO ONE else has the nerve too. A favorite and famous investor named Warren Buffet once said:
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
It's really just that simple. You will never time the perfect bottom in a market. But, when there is overwhelming fear and loathing, like there is now, you know the bottom is near. And yes its risky, and values may further fall, but your that much closer to a bottom...Happy house hunting!
"after all, a house is only really worth what someone is willing to pay for it."
I completely agree with caliguy, if the property shows well, people will pay....I am in the flipping business, and if you do the right improvements, you will get your asking or close to it, of course it has to be priced right! Even in this market, I have had success with properties, because I make the right upgrades. Selling is not a mystery, its hard work and making the right improvements.
I envy those who are waiting it out and renting!
I am no realtor, just an investor. No, I don't feel sorry for you, NOT one bit. I am sure you made LOTS of money, hand over fist. And you seem to be fussy because your not making that same amount today, time to take your medicine, now be a good boy.
Please read my profile before you make assumptions on someone you know absolutely NOTHING about. And so to this I say, NOW is the time to buy, just not in your neck of the woods.....Happy house hunting!
February 14
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