All Forum Posts by: Albert Hasson

What do these companies charge?

Edita, how is the rental market for single family homes in las Vegas? I am thinking of investing there.

18 months ago here in Phoenix I was was listening tol the housing pundits predicting doom, gloom and additional steep losses in housing prices. Lo and behold, we are now at pricing not seen in over two years. We are up at least 15% from the bottom. Point is things can change quickly. If it can happen here, the poster child along with Vegas and S. Florida for the housing collapse, it can happen anywhere.
Joel, if sales are improving in Georgia its just a matter of time before pricing improves.

I like that strategy. Its my experience that a good percentage of short sales don't go through because the buyer walks after finding another opportunity leaving the short seller scrambling. I think by being in second position you will have many opportunities.

I am interested to know what others think about the influence of a rising stock market on residential real estate prices.
Will people use the "wealth effect" to invest in real estate driving prices up or will people bail on real estate investing to put money to work in the stock market?
I'm betting on the first option.

Bruce,
My offer was with conventional financing.

Have an interesting deal pending. A short sale was listing in my target area. I made an offer (full asking price, 2% concession) fully expecting to get a highest and best counter which has been the pattern here in Phoenix for a while now.
Surprisingly, my offer was accepted the next day and we are under contract.
I asked my realtor why this went so smoothly, turns out, this seller has been under contract with owner occupants twice already both of whom cancelled at the last minute. My agent simply explained to the sellers agent that I was an investor without a specific time frame and would wait for the process to play out. They readily accepted my offer without even looking at another owner occupant offer. By the way, they had thirteen offers to choose from the last time it went on the market!
I have always thought that a short seller would be better off with an investor offer than a owner occupant offer.
Does anybody have any similar experiences?

Just got permission from wife, I will be a brunchies the 17th at 8 AM

I can probably do the 17th, let me know time and place. Would love to meet you all.

It's interesting that the article said only 17% of the properties were vacant. If the current occupants(owners) became renters and stayed in their homes then I doubt it would have much effect on the local rental market because only about 17% of the homes would come into the rental marketplace.
It seems like a good deal for he investor since 83% of he homes have potential tenants already in place. Presumably, these homes would need little or no renovation if the current occupants elects to stay and pay rent.