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Local Real Estate Booming at the Moment
2012 Nov 13, 8:20am 2,201 views 6 comments
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bubblesitter
2012 Nov 13, 8:42am
If you have property to sell, NOW is a good time to do it.
I like it when they tell one guy to hurry,sell it and to the other hurry,buy it!
RealEstateIsBetterThanStocks
2012 Nov 13, 8:43am
this is true in some area (Simi Valley, Valencia, CA). anything decent and under $400k is immediately bought by investors. most decent homes are sold within 2-3 days of being listed, some are gone after one day.
they make offers without looking at the houses (subject to interior inspection).
bubblesitter
2012 Nov 13, 8:45am
nything decent and under $400k is immediately bought by investors.
Sound right, I haven't heard of any investor buying $1 mil and then renting it out for a paltry $200 to $300 cash flow.
I like it when they tell one guy to hurry,sell it and to the other hurry,buy it!
That's the beauty of their industry. They have to make up Supply AND the Demand to generate transactions. If they could, they would endlessly sell one house over and over again !!!
Eman
2012 Nov 13, 9:43am
this is true in some area (Simi Valley, Valencia, CA). anything decent and under $400k is immediately bought by investors. most decent homes are sold within 2-3 days of being listed, some are gone after one day.
they make offers without looking at the houses (subject to interior inspection).
Well, that tells you where the floor is for real estate prices. Don't be surprised when interest rate drops another 0.5% next year, and investors will up their purchase price to $450k. It's not even funny for first time home buyers trying to buy a house below $400k range.
This is an email I got from a Real Estate Broker today.
Love the "lesson" and "George Lucas" reference.
Amazed at "Property Condition is no matter".
This person is obviously an expert. What are your thoughts?
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Hello All,
In the last 6 weeks, I’ve had 2 listings that have sold with multiple offers and cash sales within a week of being on the market – closing escrow within 2 weeks. The buyers were investors who have cash and are spending it.
There are more of them out there who didn’t get their offers accepted this time around.
Lesson?? The inventory is so low that homes are selling at a record pace. Folks with cash on hand are buying real estate in Silicon Valley.
Most of you know that in January 2013 for a lot of people there will be a new 3.8% tax on capital gain . If you have property to sell, NOW is a good time to do it. That’s why George Lucas sold his company now not later.
I am working with investors who pay cash, as-is sales, property condition is no matter (in fact the shabbier the better!) and they close in a week.
Call me if you have something to sell......
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#housing