I couldn't believe that we are dropping in values everywhere but my Ft Myers area of FL. Interesting read. If someone can post it in an easier way to open, please do. Rich
p.s. Time to move on to somewhere else to buy.......
Investor · Reston, VA · Member since 2011 · 683 posts · 191 votes
15y
Hey Rich, glad to hear it as I own some properties in Naples.
Jerry, we bottomed in a number of areas in DC in late '08 and thru '09. Some areas over-corrected and have seen a nice bounce. Like another poster, I don't care about a decline of 10% or so. Rental demand is terrific and rents were up 8% yoy regionwide. Rents are projected to continue up nicely for 3yrs or so until new inventory comes on line.
I couldn't believe that we are dropping in values everywhere but my Ft Myers area of FL. Interesting read. If someone can post it in an easier way to open, please do. Rich
p.s. Time to move on to somewhere else to buy.......
Great article Rich. I also like how it's framed in the light of why I should be bullish on Real Estate. More often than not I have a contrarian perspective. I am glad to hear another big sale is coming up.
Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
15y
He did make a point that in the face of declining prices, rental demand and yields keep increasing. And money is cheap (if you can get it). It makes sense to buy income property even if it's value might decrease another 10%. It's value might also increase. This increase could happen quickly when a critical mass realizes that they can get a 10%+ yield with appreciation thrown in, all leveraged with cheap money.
Wholesaler · Fort Myers, Cape Coral, Naples, FL · Member since 2009 · 185 posts · 33 votes
15y
Hi Rich,
Are you being facetious about Ft Myers?
If this is one of the only places that has already bottomed out and is just starting to gain in value wouldn't this be the ideal place to invest at least for a while longer?
Investor · Reston, VA · Member since 2011 · 683 posts · 191 votes
15y
Hey Rich, glad to hear it as I own some properties in Naples.
Jerry, we bottomed in a number of areas in DC in late '08 and thru '09. Some areas over-corrected and have seen a nice bounce. Like another poster, I don't care about a decline of 10% or so. Rental demand is terrific and rents were up 8% yoy regionwide. Rents are projected to continue up nicely for 3yrs or so until new inventory comes on line.