For those who are seasoned RE investors,

what does it mean when there's loads of inventory in your local market?

Just yesterday someone decided to drop a 33 house portfolio in Decatur! An area where I shop fervently. 33!!!

He's going for $155k per door regardless it's value.

Is an increase in inventory a good or bad thing? Becuz I'm witnessing an overflow of inventory in this market.

Thoughts?

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

Originally posted by @Ned Carey :

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

 Got you Nerd

This oversupply can lead experienced investors to hold off buying in that area, but jump into selling - they realize that they can get higher prices and want to sell, but smart money will wait for prices to come down or negotiate harder, less smart - will buy and the savvy investors selling will benefit.

Originally posted by @Joseph Firmin :

This oversupply can lead experienced investors to hold off buying in that area, but jump into selling - they realize that they can get higher prices and want to sell, but smart money will wait for prices to come down or negotiate harder, less smart - will buy and the savvy investors selling will benefit.

This kinda makes sense. It does.

If I were in your place, I'd wait until the end of the first week of December and hit the best of the properties to the middle level of properties with a lower offer and close by Dec 27th.  He might take it if he is trying to liquidate some before the end of this tax year!

When I see others selling, unless there is an outside reason, e.g. gangs taking over and area, etc, I see it as a time to buy at a reduced price, great supply reduces the price most of the time, so get your Black Friday deals.

Same with stocks, if there is not a economic/war/type issue, when others sell off, I want to buy at a bargain!

Originally posted by @Laurence Obi :

Originally posted by @Ned Carey:

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

 Got you Nerd

hopefully that was your attempt at humor..   

Originally posted by @Jay Hinrichs :

Originally posted by @Laurence Obi:

Originally posted by @Ned Carey:

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

 Got you Nerd

hopefully that was your attempt at humor..   

 

 I think (hope) he accidentally misspelled "Ned"  .. I admit I laughed when I saw that, assuming it was a honest typo. 

Originally posted by @Ned Carey :

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

Hi Ned, looks like I spelled your name wrong in a reply. I said "Nerd" and now it's become a joke. I'm so sorry. I've tried finding a way to delete it and can't seem to see how to. I apologize 

Originally posted by @Nicky Reader :

Originally posted by @Jay Hinrichs:

Originally posted by @Laurence Obi:

Originally posted by @Ned Carey:

Supply and demand. The more the supply the better for the buyers. The less the supply the better for sellers. 

 Got you Nerd

hopefully that was your attempt at humor..   

It was a typo. A huge mistake. *Tears*

 

 I think (hope) he accidentally misspelled "Ned"  .. I admit I laughed when I saw that, assuming it was a honest typo. 

Hi guyz,

please I accidentally responded to a comment by Ned and I misspelled his name. It wasn't an attempt at humor. It was an honest mistake. And I apogize. I take these things seriously. Please disregard comment. Please.

@Laurence Obi   Ha You are now banned for LIfe ! ! ! 

Just kidding. I have been called a Nerd lots of times before. 

Originally posted by @Ned Carey :

@Laurence Obi  Ha You are now banned for LIfe ! ! ! 

Just kidding. I have been called a Nerd lots of times before. 

 Thanks for Understanding Ned. U're cool. *Breathes in relief*.

U know what? I'm not very good with American jokes. It took me reading the whole post thrice to understand this was potentially a horror show hahaha. Thanks for being light hearted.

I had to.