OfflineHere in clarksville the housing market has survived the recession fairly well. But the short sales is staring to take affect on the market. We have actually have got some suits going on right now were developers are suing the appraisal from out town that are using short sales for comps. If something isn't done about this when will the market stop. Think about this for a Minuit. If a shot sale is done in your neighbourhood how much did you just loose on your
home.
Randy
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I agree. Its a catch 22 situation. What I am doing hopefully will be to fix up the ones I am buying so that they are the nicest in the neighborhood and susequently hopefully boost the values back up.
I tell you one thing I am founding out. Either some banks are just plain stupid or they really have no interest whatsoever to get rid of some of their dead weight. I have two offers right now on houses that are literally uninhabitable. The banks wont budge. Their nuts.
When one sets out to take Rome, TAKE ROME!
Greatness courts failure.
I have been talking to some all the banks here and it seems like to me they are trying to do them in groups. That way they can unload a bad one with 3 or 4 good ones
Randy
www.adeptpropertiesllc.com
Good point! Lots of short sales are occurring.
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote
AN agent told me the other day to stay away from short sales.
I am a newbie to REI so I dont know, but she had also told me that here in California some of these banks have been selling the owners houses out from under them with out going through the proper procedure's and that the original owners were coming back and evicting the new owners.
dont know if this is truley possible but thats crazy.
are ruining the comps for sure. However, if you can't beat them, join them. There are some fantastic deals to be had in buying short sales because you are buying property close to the bottom of the range. A once in a lifetime opportunity.....assuming that real estate prices stabilize.(And the way in which the banks, the GSEs, and Congress is dealing with the crisis; it is still a big assumption!!)
Always Looking to Acquire Houses | Always Looking to Amaze Investors
A local appraiser in my town said refinancing is where he's getting most of his work at the moment because of the low interest rates. I recently refied my primary residence mortgage and my appraisal was 10 percent below my last one of 6 years ago. I have a 2nd home (rental) I was hoping to refi with money out, but refi comps and a few local sales (@ reduced prices) have robbed what equity I thought I could get. I would like to lease option for what it was once worth, but potential tenant/buyers won't agree to my option price. How do I get past this hurdle...anyone?
PS...I may be a motivated seller if this house don't rent w/option
over much of CA. Its hard to find 50-70% below FMV for this very reason. The foreclosures and short sales have obliterated comps here. That's why I'm going out of state!
RG, Work with the monthly payments and don't focus on the price so much. That's what I'm trying to do! One of my exit strategies will be to do an auction for the option fee as well. Post lots of bandit signs RENT TO OWN! STOP WASTING MONEY ON RENT! HOMES AVAILABLE NOW! ###.###.#### CALL NOW! www.website.com.