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Housing Bubble Bursting?

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Steve Owen said:
Yeah, I was aware of that, particularly the first paragraph. I have used those happy facts to my advantage many times. When one market segment is down others are often up.

However, my surprise was because of the very high vacancy rates I have noticed over the last few quarters... particularly for retail properties. I don't doubt their wisdom, I was just surprised. It might cause me to take another look at several different things, including the spread of the small portion of my portfolio that is still linked to real property assets.
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I am not aware of commercial vacancy rates that are "high". What is the vacancy rate where you are?


I am attaching a PDF file that gives vacancy rates across the U.S. Maybe you can comment on this?
 
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"No, they solicit want to be real estate investors nationwide to buy foreclosed and tax delinquent properties,"

That seems silly to me...I'd think they'd be much more successful soliciting real real-estate investors (wanna-be's just talk about it).

Foreclosed & tax delinquent properties aren't my forte', but thanks for the lead.

-Mike
 
moh malekpour said:
Never heard of TCS...do they have the golden needle with which to prick the Housing Bubble?

-Mike


No, they solicit want to be real estate investors nationwide to buy foreclosed and tax delinquent properties,
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Never heard of them and it IS my forte. Checked out their website, like so many others they are searching for bird dogs to find THEM deals.

THEY are the investor, looking for feet on the street.
How much brain does it take to find your own investor when you are buying equity????

My system is simple, straightforward and efficient. I TELL the homeowner that I buy equity at MV minus XX%, interested? We deal, not interested? We move on.

Just takes effort, energy and brass %$#@
 
"For the nation as a whole, many real-estate executives and economists continue to predict a fairly soft landing for the housing market. Among those taking this view are Ronald J. Peltier, chief executive of HomeServices of America, a chain of real-estate brokerage firms owned by Warren Buffett's Berkshire Hathaway Inc. But Mr. Peltier warns that prices in parts of Southern California could fall as much as 5% to 10% this year."


Mr. Peltier - you don't have to be much of an expert to make this prediction, since it's not even May yet, and some neighborhoods in Southern California with REO activity have already dropped in price by more than 5% this year.
 
This was written yesterday by a Realtor in my local area:

"Not to scare anyone about our wonderful market here in Brevard, but I saw a man wearing a homemade billboard sign off of Murrell road today. The sign read something like this "Home appraised at $365,000 but willing to neotiate at $299,000 or best offer TODAY! " I think this was an individual homeowner, not a real estate agent, but I am not sure, it could have been a real estate agent.

What does this say about our market when people are standing on street corners trying to sell their homes? Have we really reached this kind of desperation?"
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May I just ask (am I allowed to do that?) why you quote a Realtor on a negative news story, but have failed to post positive news from a Realtor all through this Bull Market?

You contest anything positive in print from Realtors & the NAR, but if one happens to print something that supports your negative viewpoints (7 years & running) you immediately quote it.

Have you stopped to think...that maybe...just possibly...you've a preconceived position regarding the future of the Housing Markets...and it's always been 'disaster right around the corner?'

I await the thread to be locked and banishment forever for my transgression, but look forward to your response.

-Mike
 
Mike,
As you know, real estate market is always local market. At the end of February, we had 1618 sales and 9817 listing for residential properties. Today, which is the end of April, we have 1792 sales and 12105 listing. The increase on sale was 174 while the increase on listing was 2288 within 3 months. Is this a good news? A bad news? Or an objective news? There shouldn’t be good or bad news for the appraiser. If the news is reliable, it should be objective news. The news becomes good or bad when the appraiser has a personal interest in the market.
 
7 years is a tremendous stretch and you know it. Stop exagerrating.
 
George Hatch said:
7 years is a tremendous stretch and you know it. Stop exagerrating.
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I don't know George, he could be dragging that cross for the attention and the revelation that maybe times haven't changed ... for him.
 
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