News of the day.... - Posted by David Krulac

Real Estate Investing
1

Posted by James on February 28, 2008 at 07:08:02:

We have many things that keeps us down.

  1. We have a Canadian for a govenor.
  2. The govenor, is a woman.
  3. She’s a Demoncrat
  4. We’re a democrate state
  5. We are unfriendly to businesses in general
  6. We lead the country in bad mortgages

Ok, some of those reasons are a little biased, but when in a bad economy overall, our market just takes
much longer to rebound.

I love the American automakers. My first car was a new Trans Am. :wub: The ‘Japansee’ automakers are just
as American as the home-grown ones too. My whole family worked at GM/Delphi their entire lives and
made good money for little edjumacation.

In a true capitalist society, the Big3 will eventually get their act together. Eventually. I hope they have enough cash to make it long though.

James

2

News of the day… - Posted by David Krulac

Posted by David Krulac on February 27, 2008 at 20:51:11:

  1. Existing home sales hit 10 year low.

  2. Average home prices decline.

  3. New home inventory reaches 27 year high.

  4. Median home price down 15.1% in January, 2008

  5. Luxury Home builder Toll Bros. reports $96M loss in first quarter.

If that’s not blood in the streets, its pretty darn close.

3

You sound like the media - Posted by Natalie-VA

Posted by Natalie-VA on February 28, 2008 at 10:33:56:

Come on David, you know markets are local. Headlines like that cause perfectly good buyers in perfectly good markets to hold off on buying.

Now, on the other hand, I could use those headlines when talking with motivated sellers, can’t I?

–Natalie

4

Re: News of the day… - Posted by CTR (CA)

Posted by CTR (CA) on February 27, 2008 at 21:11:59:

There used to be a ton of posts about the best markets to buy in 2005. Curious where people think the best markets are to buy in 2008? Where can you break-even or get cash flow that is bound to do well over the next 10 years?

5

Just the facts - Posted by David Krulac

Posted by David Krulac on February 29, 2008 at 05:16:31:

Those are fact presented without comment. Here are my comments:

I think that its a GREAT time to buy. The low interest rates, the buyers market, the decline in sales, the decline in prices,and the rise in
foreclosures make this a perfect storm for buying. In 1981 the real estate market was bad AND there was high interest rates, like 18% fixed 30 year mortgages. Today is an unprecedented real estate buyers market. You hear any media touting that?

6

Re: News of the day… - Posted by Sailor

Posted by Sailor on February 28, 2008 at 08:14:18:

I’ve been very happy in NC, where I have positive ca$hflow. Howver, I haven’t done stick-built in several years. I’m partial to L/Hs right now. Hang out on the Mobile Home Forum & peruse the Archives there. Folks are still getting phenomenal yields.

Thanks, Lonnie Scruggs, for all you’ve taught to so many of us!

Tye

7

shhhh… - Posted by James - Michigan Investor

Posted by James - Michigan Investor on February 28, 2008 at 06:42:27:

Don’t tell anyone it’s in Michigan. We’re going to be in the dumps for a while.

/goes back to work buying 5k homes.

James

8

Too general to be useful… - Posted by Rich-CA

Posted by Rich-CA on February 29, 2008 at 14:25:17:

…I can’t do the negotiating in San Antonio I can in Phoenix because their market is UP. Same for Colorado Springs to a lesser degree.

9

Re: Just the facts - Posted by Dave T

Posted by Dave T on February 29, 2008 at 07:31:05:

"Today is an unprecedented real estate buyers market. You hear any media touting that? "

I have on CNN’s “Open House” and on CNBC’s “The Millionaire Inside”.

10

Re: shhhh… - Posted by CTR (CA)

Posted by CTR (CA) on February 28, 2008 at 06:47:03:

Seems like there has to be a glimmer of hope for the auto industry to see any rebound for MI. But the news just seems to get worse and worse for American automakers.