I have two fantastic listings that would be perfect for someone looking for a deal, but unfortunately, buyers don't buy in a buyer's market. A truth that is sad as it is unprofitable. The human tendency seems to be to buy high and sell low.
That being said, I'm going to plug them anyway. Eternal optimism keeps me alive and successful.
7710 25th Avenue, Sacramento, CA 95820 - is a fixer for the right buyer. A four bedroom (yes, you read it right!) two bath home for under $200,000. 90 days plus on the market. $189,000 Go figure!
4900 79th Street, Sacramento, CA 95820 - not a fixer, but is a short sale, like the one mentioned above. Hardwood floors, three full bedrooms and two full baths (oops, bedooms usually are full, right?) $239,000
This is the time that separates the real investors from the wannabes. C'mon - time to prove yourselves!
Thursday, June 28, 2007
Real Estate Investors - Where Art Thou?
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3 comments:
I was also going to put them into vFlyer etc. -- sorry for the delay; I got caught up on another task but will try to get to it tomorrow.
And/or perhaps when we have a moment I could show you around our vFlyer account. You might enjoy it.
Unfortunately for most wannabe investors, what you say is true. They tend to buy when prices are high, then panic and sell when prices are dropping. I suggest that the opposite should be true. A good example from the stock market: I bought PG&E stock about 5 yr. ago when every analyst on Wall Street was trashing it. The price was about $10/share. My reasoning was there was no way that company could go away. Well, I was either right or lucky because I sold it recently for nearly 5 times what I paid ($49/sh).
The same is even more true of residential real estate. Think about it-the POPULATION CONTINUALLY GROWS and every one has to live somewhere, It's worked for me anyway, for over 30 years.
Huck,
You're absolutely right! I've seen a lot of listings that are on the market for no other reason than the fact that people have lost money or owe more than the homes are worth and decided to sell, when they could very well just hang on a little longer. Panic selling at its best.
Like I mentioned in this post on Sacramento Home Shopper I would be buying up everything I can! Well, although I guess I have! :)
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