home values are only going up
define "buyers market"everything on the market is getting dozens of buyers and selling at or above asking price
If the rent is $2250 then the house is worth no more than $300,000.Price to rent ratio is a great indicator of true value.
That's great in your eden. Try the other 99.5% of the country.
ahahaahhahahahahahahahaa hahhahahahah!!!
Actually, he did finally tell me that he'd defaulted on the mortgage, but he withheld that information for almost 2 years until the foreclosure sale was 60 days away. No, he wasn't legally obligated to inform me that he'd stopped paying on my studio/office, but I am ticked off. I went to the public auction last week, but no bid was entered, so it went back to the bank at $345K. A couple of people had stopped by the property and one seemed like a serious buyer who hoped it could be leased out right away, but his group decided against it. At this time, I'm squatting on the property. The bank says they'll pay me to vacate, but haven't given me an amount yet. But even though it would mean taking on another 30-year mortgage, there's a part of me that wants to buy the property for less than one-half of what the original asshole owner paid, just to piss him off...especially since the monthly nut would be about the same. From a business perspective, it is a reasonable, long-term investment.
me and tre live close by you must live somewhere shitty
central valley california bro, houses are dirt cheap, prices bottomed out about mid last year.. been rising slowly for a while now, markets flooded with buyers looking to invest
Can't give you advice.Hope it somehow turns out good for you.
When you rent, you're at the mercy of the owner. What the owner did by not telling you was smart on his end. Those checks he was getting from you went right in his pocket.
Tre didn't get ripped off the bank did.
banks rip people off all the time, take their houses unjustly, you are defending banks HAHAHAHHAHHAHA they are the devil!
ummm. no they're not. Home values have yet to hit bottom. it's really ugly out there in the housing market, I dont care what state it is. So many people are defaulting on their mortgage because they can't rationalize paying thousands in interest every month without building equity. Why invest thousands of dollars every month in a depreciating asset?? Foreclosures numbers will continue to climb in the years ahead and home prices will continue to plummet. There will be tremendous buying opportunites for years to come.The next big shoe to drop? Defaults on business bank loans. It's quite depressing to drive into downtown Baltimore and see 50% of the big buildings across the skyline with 'for lease' signs hanging from the 50th floor windows.
im very well acquainted with the real estate market in my area and prices hit bottom 1-2 years ago. the economy did too. small signs of growth now
Up, I'm a real estate paralegal and you're right on the money. The amount of short sale files I have is nuts. Reverse Mtgs are well on the rise also.
There are at least 3 homes on my block going up for short sale, including mine. I'm upside down by almost $90,000. It's sickening and to keep pumping money into the home is retarded. If I was planning on living the rest of my life in the house, it would be different but it was purchased as an investment with 15% down and I'll NEVER make that money back. As soon as the house is sold, I'm laying low for a few years until I buy again.It's a joke.
