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RE: Scaredy Cat Guide to Real Estate Investing – Part VIII – The Sales Contract (Items to know)
Nice article - question. Do you see any trends worth noting? (for buyer or seller)
Nice article - question. Do you see any trends worth noting? (for buyer or seller)
If you mean in the overall housing market - Yes. But it is more specific to my market and some other blatant ones.
For instance - in South Florida. It is probably the time to start selling some properties as opposed to accumulating a portfolio. The appreciate has been aggressive here and folks are now over asking and we are seeing price cuts which we have not seen in quite some time. It still is a sellers market though as homes priced accordingly are being bid up and sold fast.
I struggle to find deals now because people are overpaying. Off market and maybe some bank owned stuff is all I look currently.
Places like San Francisco and Manhattan (as always) are out of control. Manhattan is already starting to see softness in the market. Many realtors I know say Miami is softening as well, despite all the foreign money that comes in there.
Sounds similar to the Texas market. Houses are selling for above asking price and not even staying on the market a few days, if they even make it to market. Seems so similar to the 2007 time frame, kind of scary.
Yeah - I know Houston has gotten a bit crazy of late. I was looking out there a little last year. May take to the midwest. Ohio prices are affordable, you won't really ever see appreciation, but the rent to price ratio is good.
I don't think we are quite 2007, but not far off. Plus, the market isn't fueled by no doc loans this time so the landing will be much softer, but a pullback in the next couple years would not surprise me. That's why the key is to buy right. So long as the property cash flows, don't have to care if value goes up, down or sideways.
Thanks for the insight