POLL: When in the Northeast will we see deals on the MLS again?

Question

Referring to distressed properties with good numbers.

What's your guess? 2022? 2023? 2024? 2025?

2022 when the Fed raises the interest rates is my banker's answer as of last month.

2021 was my realtor's answer back in August 2020. She thought that COVID would be eliminated by now.

Russell Brazil · Answer

Ive never bought a single "deal" in my life. I keep buying properties and keep getting rich though while everyone else is waiting for a "deal."

Minna Reid · Answer

One of my markets is CT. The market is starting to weaken and the new foreclosed/evicted inventory has not yet started to hit market significantly yet. I would say next year should offer better deals, maybe even with some starting in the winter. Especially all that foreclosed inventory that's been sitting in the shadows for the last year and a half, that will now be stripped of copper and have frozen pipe damage after sitting through the cold, vacant. That stuff will be majorly distressed with REO prices to match. Will put downward pressure on the whole market.

Eric Bilderback · Answer

@Russell Brazil

Nailed it!

I am personally waiting for a commit to be mathematically proven to slam Earth at that point there will be deals everywhere.

Sorry for the smart ass response. But people have gotten rich while other people have waited for a crash. I'm conservative by nature but I have learned I am decent at underwriting but not nearly as good at economic forecasts.

Dan M. · Answer

Fall/Winter 2022 , though no-one has a crystal ball. The increased price was offset by increased rents. Theres always a way to find a deal if you get creative enough. I'm still buying.

Bud Gaffney · Answer

I think spring 2022 will be a big hit.

POLL: When in the Northeast will we see deals on the MLS again?

POLL: When in the Northeast will we see deals on the MLS again?

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