Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
From the AP Wire this morning. It follows up on other thread below about worst 5 states.
The default notices AND auction notices increased as follows.
1. These were up in May 12% over April #'s.
2. Also up16% over May 2011.
These aren't huge, but we all expected this to occur in the Summer. My guess is summer will continue upward.. Get your cash ready for another possible buying opportunity.
Here is something really different. I offered on a repo the other day on a property here in St George. Offer deadline was noon. I received acceptance of my offer at 5 PM SAME day. It made me think I paid too much-buyers remorse! Now in the due diligence period. A true fixer upper. Rich
I've seen a steady supply of houses in my area and fully expect to see more this coming fall as Rich suggests from these numbers.
Rich Weese what have you seen in the value of multi units? In my experience I haven't seen many deals in multi's and if they are cash flowing they are at top market value (IMHO) of about 8-9%. I'd love to add one in this market but until I see a deal I'm holding off.
Rental Property Investor · Manteno, IL · Member since 2009 · 2k+ posts · 2k+ votes
14y
Somehow I'm thinking you wouldn't have placed your offer at a number that wasn't a good deal for you. And, if it was a good deal, how can you have any remorse?
I sometimes wonder if I could have gotten a house a little cheaper on some of my deals. But, at the end of the day, it would be 10 times worse to find out I missed out on a property for being 2 or 3k too low than to try getting it at the rock bottom every single time.
An extra 2k or 3k is only another $10 to $15 a month....... versus the loss of another $300 to $400 a month profit.
Congratulations on your new deal. Nothing better than getting an offer accepted.........