During the past few years home prices have gone up dramatically just as they did in the early 2000's.

Today the market feels like it has hit a standstill, for one, in my opinion it was much needed. I say this because just by looking and talking to the local community they have mentioned and noticed the following; the costs of living has increased, meaning costs of food that's including fast food for some, entertainment increased along with gasoline and not to mention the amount of unemployment, etc.

As you have notices there has been multiple retail stores closing in the past several months. The holidays were mostly window shoppers and gift exchanges (elephant gifts).

I commonly hear people are trying to stretch their dollars and cents. Ask yourself how many people do you know that can afford a payment of $3,000+ a mount on a property that needs about $50,000.00+ worth of repairs just to make it livable? They need to be making about $110K a year. I don't know that many people myself, especially in certain cities. I don't know about you but I refuse to pay top dollar for a property that still needs repairs or event those properties that have been rehabbed with the cheapest quality materials.

Yes the news may say what you want to hear but the truly reality is completely different. This market has hurt everyone and investors will most likely feel that same pain when their flip causes them a loss instead of gain.

I am already noticing lots of price reductions, some pocket listings actually being listed as they are not getting buyers for them. I guess buyers are finally saying it’s our turn to get a deal and as a buyer myself I know I am too.

On another note it’s very easy to find at least 10 Notices of Default within any 2 mile radius of most cities in Orange County. Strangely enough those people still remain living at their property for at least 2.5 years without making a mortgage payment after making their 4-5 loan mod. and not wanting to sale their property. Don’t get me wrong there are some people that do deserve to get loan mod but come on 4-5 loan mods. Does that mean that anyone can purchase a property today and default on it in the next few months and still get a loan mod because of how the market has hurt their business? If that is the case, purchase a 1 million dollar property and get a loan mod for half the mortgage payment. Now that’s a deal. Some Home Mortgage Consultant might say you can’t do that in todays’ market because of the strict guidelines but I bet there are always exceptions to the rules.

Furthermore do you feel that its fair for hard working individuals with great credit and money saved for a good down payment should be the ones bailing those individuals that bragging to their friends and neighbors that they have not been paying their mortgage for over 2 years and are in their 4-5 loan mod.

Why should hard working individuals that have been waiting patiently to purchase their home pay top dollar in todays’ high cost of living on a property that requires tons of repairs and others have been living of it for free?

I say enough is enough, you had your fair share let the rest of the people have a chance of living the American Dream.

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Our market continues to improve.  Our single family market bottomed out late 2011 and we have seen an increase in the median sales price, increase in sales, decrease in inventory in every quarter since then.  Builders are building again and we are seeing more and more commercial developments and large box stores building here. 

We hit bottom in 2009 and about late 2010 skyrocketed right after that. The normal Real Estate cycles is much harder to calculate now that the Gov has gotten involved. I can only tell you that if we are showing signs of slow down in CA. during Tax season I wonder how it will be for the summer. If it continues to go like this we might be heading down to roller coaster. If your market it going up in price I suggest to buy and hold and sell in two years, that is if its copying CA Real Estate market. You will make a killing. I don't know what state you are in Jeff but it sounds this is a good time for you to invest. Our Medium price range is from $430-530K 3-2 bath,  $540-600K 4-2 bath. keep in mind they still need repairs. Funny thing is that the normal income in those areas is only $50-85K a year per house hold. The other factor I am seeing is that two to three families are living in a single family residence instead of one and that is to be able to afford the monthly mortgage payment. To me that is not living the American Dream.

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