Market Trends and Condition

I keep running in this type of problem.
I've been making alot of offers in reos. Making low offers and even went around offering 5k over asking price. But somehow there just other investor/ first time home buyers offering way more than asking price.
Has anyone here run into this same scenerio.

According to a recent post by AOL. Celeberty homes are feeling the hit. Celeberties suc as Mel Gibson, listed his home in 2007 at 39 million. Dropped to 35 million. Elle Macpherson listed at 19.2 million, dropped to 15 million. Nicolas Cage listed at 35 million, dropped to 17.5 million. After not selling at this price almost half off. The home was taken off the market. This market is not just hitting the middle class but the wealthy also. I feel there is a whole new trend of foreclosures happening. What's your take? Continued success............Lubertha

According to a recent post by AOL. Celeberty homes are feeling the hit. Celeberties such as Mel Gibson, listed his home in 2007 at 39 million. Dropped to 35 million. Elle Macpherson listed at 19.2 million, dropped to 15 million. Nicolas Cage listed at 35 million, dropped to 17.5 million. After not selling at this price almost half off. The home was taken off the market. This market is not just hitting the middle class but the wealthy also. I feel ther is a whole new trend of foreclosures happening. What's your take? Continued success............Lubertha

I know Dean Says you can make money in any market, but...

I'm investing in Detroit, and no one is buying (other than investors), and the prices are so low (40%-80% of FMV) that it seems like it's not a smart place to invest.

Does it make sense to invest and/or wholesale in an area where anybody (and I do mean anybody) can get an 80k-110k home for 20k or less (waaaaay less)?

I am located in the midwest and have recently noticed with the warm temperatures of Spring that several of tthe bargain homes are being purchased. I was curious if other DG members thought the market may be turning and getting better, with more first time home buyers now buying to take advantage of the tax credit or is it just the Spring cycle and I should prepare for the bargains of the Winter of 2009?

Hi my dear DG brothers and sisters. This is the deal. I have a property for sale. The location is 3117 Mareco Ave, Baltimore, MD. very nice area, reduced from $108K to $68K, equity of $40+K and a monthly cash flow of $400. Great property. Last house on the block sold at $99K. The house is in great condition. Has been listed now for 6 months, have no idea what to do next. I need some suggestions and recommendations on other ways of marketing. I have listed it on CL real estate for sale and housing, classified ads on this site, and word of mouth.

A good company can save you a lot of time by searching the preforeclosure list for you so all you have to do is contact the owner.

Hi all,

Hope i'm not overanalyzing the interest rate thing, but I have looked at the prime rate the last 12 months and it seems to still be dropping which is currently at 3.25%. would you say that is an indicator of a bottom market or down market? I am doing the exercise in chapter 3 with Dean's book with the arrows. Thanks

The Kansas City Federal Reserve president announced on 4/28/2009 that they predict a second wave of foreclosures to begin in mid 2009 and continue through early 2011. His comment was the first wave was primarily the result of sub-prime lending but the coming foreclosures would be the result of ARMs interest rate adjustments that would make payments unmanagable for many middle class borrowers.

These are the people who do the back to back closings in all 50 states. They are very intelligent with title company issues and new laws in real estate.
Go to their web site and register for the conference call. Email Marc and let him know you want to attend the conference call. [email protected]
They will update you on the latest changes in going on the the RE market.
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