I don’t know what’s wrong with the media? If they want to create a sensationalistic ether about the real estate market they should be spreading the news about the amount of investment companies and individuals that see a promising future in real estate.
The most lucrative market right now is home under $100,000. I see this in the market myself and it was recently confirmed at a meeting with RE/Max’s broker for the desert, Lorenzo Lombardelli. Homes and condos under $100k presently sell faster and in greater quantity than any other real estate.
Why? Low risk-good profit-fast profit!
If you could buy a home for $50k-$60k, put $10k or less into it and sell it in less than 3 months for $70k-$90k, would you do it? You bet, anyone would. Who wouldn’t want to realize a $10k-$30k profit every quarter? That’s 20%-30% in profit!!
The catch is: you gotta have cash or have your financing in place. And you have to be able to make a quick decision. I see time and time again, a buyer who tells me, “I hear the market is horrible and I want to steal a property.”
“Ok,” I say. “and if I show you some these great deals, when are you going to be ready to act?”
“You show me the deal and I’ll recognize it.” Right. This same buyer whines when it comes time to make an offer that it isn’t low enough, the home needs repairs, and then in their hesitation they lose it to some else who buys it, fixes it and relists it for $20grand more.
There are deals out there. I come across them every days. If you’re a buyer who can really recognize them, I would sure love to talk.