The local investors in our area are once again pooling their money with LLC's and buying up homes for cash. I was beginning to think nobody had any money, but I was wrong. Now that the prices have gotten so low that a buyer can get a good cash on cash return for a rental property, we are writing contracts without showings for cash with a 10 day due diligence period. It's a beautiful thing to help clean up the mess.
I think it will still a while before the builders start building again here in Ocala, but I am also seeing lot sales pick up (at discounted prices of course.) It's a lot of fun to have this much action all of a sudden.
If we can get the residential builders back in business, we can turn a very important corner for our local economy.
I had just written a post over the weekend that the owner occupant calls seem to be slowing down. You just can't second guess this crazy business. I guess that's what keeps it interesting. Every day is a new day.
Today I love real estate! Lots of luck and best withes to everyone in the real estate business. I hope you have a record week!