OfflineAfter another bad year of new home sales, the housing market is still in shambles. Yes, there are some places in the country currently unaffected by this mess, but if unemployment doesn't start decreasing, we are in for a double dip in our economy. This latest oil fiasco doesn't help us either in stabilizing our economy. Of course, we have no one to blame but ourselves.
New home story can be seen here:
http://www.msnbc.msn.com/id/41757771/ns/business-real_estate/
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Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill you just keep bringing up good news Ha!
http://kendrickpropertymanagement.com/
http://rochesterapartmentrentals.com/?page_id=10
make sure that these new investors understand that they are playing with fire if they don't do their homework. Real estate can be a cruel world especially if you don't have the liquidity to outlast a swift downturn.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
Bill is very correct! If you pay attention to the market, you can avoid a lot of the pitfalls that are out there. Most people get killed just by not paying attention. For example, 6 years ago, when prices in CA and FL had appreciated 130% for a five year period, we could see very clearly that those numbers couldn't possibly hold for any more time, and we recommended clients start getting out of that market. There are always indicators to what is going on, and you have to watch for them.
Right now, there is going to be another dip in prices based on the new re-setting of arms. This will be taking place in 2011 and 2012.
This is not a reason to stay on the sideline, but it is a reason to be aware and very cautious in your dealings.
Over in Las Vegas where they have a lot of homes in foreclosure they are actually busy building new homes. New home construction that they don't need with all the empty houses. Forgot exactly where I saw that but it was recent and did not make sense. I think it was something to do with numbers reporting which makes the numbers and percentages tainted. Do you know about that ?