All Forum Posts by: Kevin Polite

Here 30310

@Nicholas LaGatta Westside is probably the hottest market so I did a quick pull YOY pricing, list to sale price, days on market, List Price of All Listed Properties, and sold price of Solds for 30310, 30311 and 30314 from GaMLS that includes Westview, WestEnd, ashview, etc. as you can see all have increased price points year over year using Jan 1-Nov 1. which confirms what you said. 39 days on market is fantastic, especially when historically it’s been 90 days. markets seems to be leveling off to a normal market. With another rate cut by the Fed today it’s a great time for homebuyers. Will present problems for finding buy and hold. foreclosures are at an all time low even after Fulton shotup last month. There are still deals but nothing like 2011-16. I wish there was better data for rentals. Zillow has a ton but for some reason doesn’t monetize or report.

@Salvatore Lentini great point on appreciation. I always look for areas where growth is headed that way whether new development or changing demos. Commercial pro formas always include appreciation even if it’s low. 

@Mitch Messer thanks, however, I want to see 3 consecutive months before committing to this being a downward trend. 

@Mitch Messer As I read this it appears it's for the month of August only and not for the entire year. Only YOY for August, correct? If so, what are they showing for the entire year and for last quarter. 

I’ve been thinking of this as every time I go on vacation an issue comes up. Luckily it’s always something I can handle when away or a service I use in a regular basis can take care of it with a quick phone call.

However, when I think of 10% of my monthly income going away I forget about it. 10% figure because it would Include 7% management fee plus 1/2-full month rent on renewals. 

Great article about what we already knew. 

• What adjustments are you making?
• It is getting much harder to profit on house flipping today. Home prices are high, there are very few distressed or foreclosed properties available to buy cheaply, and the competition among investors is fierce...Lending to house flippers hits 13-year high

Reminds me of the old saying about contractors when someone ask for good, fast and cheap, but you can only get two

Is there much appreciation expected in the next 5 years? How much is rent in the area? What would your mortgage be? There are several properties I wish I could have kept and rent out as they were in up and coming n’hoods. Not sure you’ll get the same in Roswell unless it’s forced appreciation 

I believe there is a huge difference between a recession and a depression which we were in 2008-12. That was a once in a lifetime occurrence. Last time I remember it was that bad was the in 1970's when interest rates were in the teens. I remember my dad bought a house with 15% interest. People still buy houses (retail) in good or bad markets, maybe just not as many. The Dodd-Frank legislation cut all, if not most of the crazy lending that was going on during that time. Historically, we've never had a recession/depression like 2008-12 where housing went down in every US city, usually it's regionally like LA in believe in the 80's. No you can't get the deals in volume like a couple of years ago, but it's always a good time to buy a deal.