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Steve Gaudet

Pro

Home Inspector (5 years experience)

Specialties:
Inspection

Advice

  • (12 Contributions,
  • 0 Best Answers,
  • 2 Helpful)

Contributions are sorted newest to oldest.

Buy a home with stolen copper pipes?

Answer

Not really a big deal.  Since the copper piping is gone, look at using PEX.  Easy to work.http://www.pexinfo.com/http://www.plumbingnetworks.com/info/pex-copper/cheers,Steve

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Where is the Bottom?

Response

Interesting fact, investors are buying homes with cash.  Investors look at long term investments and wade in slowly.  No one ever knows where the bottom is.  Therefore, a smart investor "invests" small amounts of capital at intervals anticipating a turn. The so called experts claim the turn will happen by 2012...that's not that far off.  More important multifamily home sales are up.  People have to live some place.

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DO I NEED A NEGOTIATOR WHEN BUYING A SHORT SALE?

Response

Suggest hiring an agent 1st.  Then get the home inspected.  One main reason for short sales and foreclosures is maintenance on these properties put the past owner under.In some cases, short sales mostly, the seller will try to hide deficiencies.  Some are minor and some are not. In foreclosures some of these houses were neglected due to lack of funds.  I've inspected a few that just need a match and start over.

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Knowledge is Power - Home prices will continue to fall

Response

When foreign investors buy real estate they buy rentals.  The rental market is up.  Go figure all these people lost their houses have to go somewhere. Agree with "Besides, the Chinese buying the U.S. treasury bills are expecting to collect "real assets" when the government decides to default on the loans.  They could bankrupt the U.S. Government tomorrow if they wanted, but no one "invests" in something specifically to lose the investment, thus they will keep the government propped up in order to collect a bigger "reward" later."If the Chinese dump our debt on the open market they could crush our economy overnight and we'd be powerless to do anything.  When you vote to keep the same idiots in power all you get is more or the same."No change brings no change"

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Knowledge is Power - Home prices will continue to fall

Response

I posted this earlier.  The US Dollar broke the 2008 low on Friday.  Based on my "projection" it may complete a 100% move to 68.420.  Why is this important?  Because we just took another hair cut in our pay checks due to our government spending.Bottom line, it's not getting better it's getting worse.  Our market continue to rise because to foreign investors we're cheap.  The euro broke a new high Friday.  Gold new highs.Our government is trying to misguide us saying we want a cheaper dollar to sell our goods.  However, that crap, since we sell about 25% and import about 75%.  This can be seen at the gas pumps, and any store we enter.Will home prices continue to fall... absolutely.  Some markets will have whats call a dead cat bounce and go lower.Until the US government stops spending and they get our fiscal house in order there is no bottom.Stop kidding yourself and wake up.    

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Knowledge is Power - Home prices will continue to fall

Response

lol, i see your using the zillow data.  interesting, overall it DOES suggest that housing may fall deeper.  however, watch market trends, foreclosures, short sales...they have to dry up.  In MASS prices are on the rise...in areas.

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Knowledge is Power - Home prices will continue to fall

Response

If you use the Zillow local tools you can look up areas and see what the market has done in the past 10 years.  Do your own research look at what homes are going for based on sq/ft costs.  New home sales can not compete with supply so I'd rule them out.  New Home Sales are due out tomorrow @ 10am ESTTrack foreclosure listing, if they start to drop less inventory.Foreign investors are buying rental income property here because our dollar is cheap.Another sign a small recovery is happening is look at job listings they are picking up.  Look at CDL drivers, in demand, they move freight / goods.     

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Home sales drop 9.6 %,

Answer

Ok, lets look at some reasons why there may be a slow down.  No jobs, high oil/gas prices and the USD (US dollar) is tanking.  With the dollar going lower and testing a triple bottom we all just took a pay cut.  Gee can't see why things are bad.  All we need to do is spend more...that worked.

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Knowledge is Power - Home prices will continue to fall

Response

Existing home sales come out today @ 10 am EST.http://online.barrons.com/public/page/barrons_econoday.htmlThe HGX which is an index fund shows it's in an uptrend.  However, my concern is the USD testing the lows @ 75.32 it appears we'll break the lows which means we all just took a government pay cut.

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