looking at vacations homes.....advice from anyone in the real estate business needed, thanks.
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looking at vacations homes.....advice from anyone in the real estate business needed, thanks.
If you are talking about Havasu, I would wait. I think the market is going to soften ( I think it already has a bit). The predictions from the current Forbes is predicting Vegas to get hit the hardest in the next year, and So.Cal. is right behind them. In my opinion Havasu will go as So.Cal. goes.
Here is a good article I found....
http://www.signonsandiego.com/news/b...6-economy.html
Seems like they have been talking about this bubble for about five years. In OC they are saying homes will still appreciate just not as high as of a prcentage, instead of 10 or 11% maybe 3% to 5% still a increase though. Havasu not to sure, we bought a condo a year ago and have made 60k on it.
If you are talking about Havasu, I would wait. I think the market is going to soften ( I think it already has a bit). The predictions from the current Forbes is predicting Vegas to get hit the hardest in the next year, and So.Cal. is right behind them. In my opinion Havasu will go as So.Cal. goes.
Common sense would tell you it would retract. Those were my thoughts. Here are my past actions in regards to river real estate.
Sold house in LHC for 95K in 1990 now worth 350K
Sold house in Moonridge below the dam for $85K in 2000 now worth $250K
Turned down waterfront in Moonridge for $200K in 2001 now worth $850K!!!
Just call me. I'll tell you what I am going to do, then you should just do the opposite. :cry:
My advice is when you see forecasts for the R/E market see who they are coming from and if they have anything to benefit from their forecasts. The NAR and CAR have both been backpedaling as of late. Several months ago they were saying there was no bubble and appreciation in CA should continue in the 10-15% range. Now they are saying they are expecting a soft landing for bubble areas.
My advice is if you do buy don't plan on it seeing huge appreciation and even perhaps a decline. But as long as you think long term, stick with a 30 year fixed you can ride out any decline.
http://thehousingbubble2.blogspot.co...s-down-11.html
You know I just love reading your posts. Not because of anything you have to say but you have the best sig on HB :)
I agree with your statements regarding real estate by the way
Usually, he's got good points on RE, or at least interesting. Unfortunately, he's lost ALL credibility with that sig. line. :hammerhea :wink:
I think CC322's comment is the more likely scenario, in my uninformed opinion.
If you are investing in Real estate for a quick buck, dont, if you are in for the long haul there really isn't a bad time
obviously My lameass opinion :p
Common sense would tell you it would retract. Those were my thoughts. Here are my past actions in regards to river real estate.
Sold house in LHC for 95K in 1990 now worth 350K
Sold house in Moonridge below the dam for $85K in 2000 now worth $250K
Turned down waterfront in Moonridge for $200K in 2001 now worth $850K!!!
Just call me. I'll tell you what I am going to do, then you should just do the opposite. :cry:
Now thats Funny!!!!!
Sorry, but I know how you feel....
Common sense would tell you it would retract. Those were my thoughts. Here are my past actions in regards to river real estate.
Sold house in LHC for 95K in 1990 now worth 350K
Sold house in Moonridge below the dam for $85K in 2000 now worth $250K
Turned down waterfront in Moonridge for $200K in 2001 now worth $850K!!!
Just call me. I'll tell you what I am going to do, then you should just do the opposite. :cry:
So, what exactly are you planing to do I could use some extra money :)