Cob
Senior Member
- Joined
- Mar 30, 2006
- Professional Status
- Certified Residential Appraiser
- State
- Texas
Silicon Valley cash ... I am wary of the "CA voting patterns" some of those people moving in are carrying around in their heads ...![]()
People like to blame it all of California, but in Austin it's a combo of California, New York and New Jersey people moving here and a LOT of companies and entities that are buying properties from home owners, doing NOTHING to the property and then listing it for $50,000-$100,000 over the highest sales in the neighborhood and have people panic buying because the buyers have a false sense of urgency that they need to buy NOW. There are entities (not individual people) going into subdivisions and if there are 10 properties listed, they will buy all 10 properties, do nothing to the properties and then just re-list them way higher, people buy them because there are no more listings in the subdivision anymore, because some company bought them all.