Posted by michaela-ATL on May 09, 2005 at 09:21:58:
Ken,
again, it depends. The market is definitely going to pick up again. It’s a great time to buy, if you have deep pockets. It’s still difficult for landlords to rent their properties. Rents have dropped in the past few years, so, those that have their places rented out, may make only enough to cover their payments. Some nieghborhoods around particular schools don’t ahve that problems and the people, that farm those areas are doing ok.
Michaela
auction of Real Estate - Posted by ernie
Posted by ernie on May 09, 2005 at 01:11:47:
any investors tried selling properties like an auction if you have do you have the paper work needed if any and just how you completed the deal. Newbie needs help, thanks
Re: auction of Real Estate - Posted by David Krulac
Posted by David Krulac on May 09, 2005 at 05:38:03:
the auctioneer will have all the paperwork. from a buying point of vieew the auctions seem to bring out lots of buyers and the prices IMHO are sometimes more than market. Absolute auctions bring out more buyers than reserve bid auctions but in my area both auctions are hot now.
Re: auction of Real Estate - Posted by ernie
Posted by ernie on May 09, 2005 at 07:02:11:
who is this auctioneer is he an investor too does he have a book or system as to how to put together a auction type sale
Depends on the market - Posted by michaela-ATL
Posted by michaela-ATL on May 09, 2005 at 05:55:04:
David,
it really depends on how your market is. I’ve seen a few auctions here in Atlanta where noone showed, even though the offered starting bid was well below the areas norm. It’s a total buyer’s market here.The biggest incentives don’t help, if the buyers aren’t there.
Michaela
absolutely: Depends on the market - Posted by David Krulac
Posted by David Krulac on May 09, 2005 at 19:46:39:
here its still a strong seller’s market. I was talking to a broker today and she was lamenting that there is so little inventory. She listed a 1 acre lot for $129,900 that sold for $79,900 in 2002. She could not find any comps for the asking price. The property sold in 1 day all cash. It that kind of market here.
There was an auction a few months ago. The auctioneer told the seller he thought they would get $425,000. The sellers had a professional fee appraisal done that showed value of $395,000. A broker and a developer both looked at the property to buy for themselves and estimated the value at $425,000 to $450,000. It soldto an all cash buyer for $606,000.
I wish I had about 50% of the the stuff that I sold because I could sell them today for millions more than I did.
Re: Depends on the market - Posted by Ken (Fl)
Posted by Ken (Fl) on May 09, 2005 at 09:09:04:
Michaela,
Do you feel your area lends itself to long term buy/hold investing?
I’ve been thinking of buying outside of Central Fl.
Thank you for your time,