Market Trends and Condition

Article Source
http://www.househunt.com/news-realestate/tag/repeat-buyers/

For the first time in nearly three years, repeat buyers and investors have overtaken first-time buyers as sales leaders once again in the nation's housing market. As a result, prices of bank-owned REOs and properties involved in short sales are being bid up by multiple offers and cash buyers in many neighborhoods, according to the latest HouseHunt quarterly current market conditions survey.

"The current ratio of 58% to 42% favors repeat buyers," said Michael Bearden, president and CEO of HouseHunt, Inc. "This is an increase of 10 percentage points over a year ago and 24 points over six months ago. In a more balanced market of supply and demand, repeat buyers usually lead by a two-thirds ratio."

If you are looking to buy self storage complexes int he US, you really need to make sure that your market is not saturated with existing stock. Cushman & Wakefield offer market reports each year for the self storage industry. They have a report for 2010 that they just posted at http://www.selfstorageeconomics.com/pdf/marketequilibriumbycbsa2010.pdf

It will give information about major metropolitan markets through out the US and whether they believe that based on the number of facilities, population and housing mix the demand estimates. They will also determine whether the area is at an equilibrium, over supplied, or undersupplied status.

Has or does anyone use the online real estate auctions? They seem to be popping up all over and I am wondering if any good deals have been found using this method. If so, what to look for, which ones, etc.

What NOT to do when investing

When deciding on an income property investment, the mistake many new real estate investors make is to let pride of ownership influence their decision to make the investment.

Because a property might be located in a low-income (not a high-end) area beginner investors regularly ignore the profit the property can produce and walk away from the opportunity.

The problem is that too many new investors look for investment properties with the same mind-set that they would look for in a house to raise their own family.

So I haven't seen this type of thing on DG before...so I wanted to share this type of strategy with everyone. One night my business partner and I were trying to come up with even newer marketing strategies and we came up with an old favorite!

Here it is...

Craigslist will let you market to any country anywhere!

So think of the US economy VS Canadian currency.....

If you pay attention to the exchange rate these days you will find out why so many Canadians are buying up all the property in the US. And it doesn't stop there....many investors in many countries are setting there sites on the US for property and they have a ton of $.

According to Smart Real Estate News & Commentary by Chris McLaughlin

A new report from Moody's Economy.com singled out 22 cities that are at risk of slipping back into a recession in as early as three months.

To come to this conclusion, the economists considered dwindling progress in employment, housing starts, home prices and industrial production.

The at-risk cities are spread across the country, ranging from Missoula Montana to Mobile Alabama, though more than half of the cities are in the South, and five are concentrated in the Midwest.

Can anyone recommend sources for researching emerging markets both in the US and globally? I am interested primarily in the migration, job growth and development factors. I want to be able to quickly and accurately identify areas which are showing the most strength & rapid growth. Also, sources which identify areas where local governments are taking large strides to provide benefits which attract future business is a plus.

Hello;

I was reading the real estate investment book and saw that i could purchase at 65% on REO/bank owned properties. However, I emailed a local realtor in Las Vegas who is the listing agent for Wells Fardo and this was his response;

Buying homes at 65-70% of the retail value is going to be tough in the current market. It all depends on what you calculate the retail value to be? Our market is dominated by REO's and short sales and those are the current values and comps regardless of the seller. Most bank owned homes are selling at the list price or higher because there is a low supply and the demand is strong.

On this particular home, 6167 Mythic Atlantis Las Vegas, NV 89149, we have 2 offers at this time and this will most likely sell above the list price.

Hello;

I was reading the real estate investment book and saw that i could purchase at 65% on REO/bank owned properties. However, I emailed a local realtor in Las Vegas who is the listing agent for Wells Fardo and this was his response;

Buying homes at 65-70% of the retail value is going to be tough in the current market. It all depends on what you calculate the retail value to be? Our market is dominated by REO's and short sales and those are the current values and comps regardless of the seller. Most bank owned homes are selling at the list price or higher because there is a low supply and the demand is strong.

On this particular home, 6167 Mythic Atlantis Las Vegas, NV 89149, we have 2 offers at this time and this will most likely sell above the list price.

Hello;

I was reading the real estate investment book and saw that i could purchase at 65% on REO/bank owned properties. However, I emailed a local realtor in Las Vegas who is the listing agent for Wells Fardo and this was his response;

Buying homes at 65-70% of the retail value is going to be tough in the current market. It all depends on what you calculate the retail value to be? Our market is dominated by REO's and short sales and those are the current values and comps regardless of the seller. Most bank owned homes are selling at the list price or higher because there is a low supply and the demand is strong.

On this particular home, 6167 Mythic Atlantis Las Vegas, NV 89149, we have 2 offers at this time and this will most likely sell above the list price.