The Local Long Term Investors are on the Buy. Does this mean a bottom?

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Real Estate Agent with Re/Max Premier Realty, Inc.

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!

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Rainmaker
383,526
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Nancy: I hope it does.  It wouldn't hurt to get an extension of the $8,000 Tax credit incentive too!

:)

Oct 19, 2009 11:11 AM #1
Ambassador
429,597
Rich Cederberg
eXp Realty - Albuquerque, NM
eXp Realty Agent Albuquerque

"I guess that's what keeps it interesting. Every day is a new day."

Isn't that the truth?

I don't know if investor pools signals the bottom of the market. We had a lot of investor activity here at the peak of the market.

If you run out of homes there let me know. I'd love to help more cash buyers!

Oct 19, 2009 03:20 PM #2
Rainer
23,227
Nancy Deichman
Re/Max Premier Realty, Inc. - Ocala, FL
CDPE

We had a lot of activity at the top too. And some very experienced investors told me that we were going to have the crash. I didn't believe them and I also got stuck with a lot of real estate that dropped drastically in value. It was a very painful experience.

I think each local market has to hit it owns bottom. As real estate agents, when we can't believe our own eyes on what things are selling for because the price is so spectacular, maybe that is the top or the bottom. We just have to live long enough to take advantage of it the next time.

Oct 20, 2009 09:49 PM #3
Rainer
23,227
Nancy Deichman
Re/Max Premier Realty, Inc. - Ocala, FL
CDPE

Yes, where is that extension on the tax credit everyone was expecting? I hope it shows up soon. We really need it to keep this party alive. I am getting nervous about things slowing down for the holidays. January is our worst month in our market. A great big whopping new tax credit could help make it our best.

Oct 20, 2009 09:52 PM #4
Rainer
713
Kelli Ryder
OW&T Investments, Inc. d/b/a Allstate Mortgage of Florida - Ocala, FL

CASH is always wonderful.  However it would be nice if the lenders would losen the reins a little bit for the investors purchasing investment properties.  Any kind of stimulation in this market is good. 

Oct 22, 2009 10:44 AM #5
Rainer
23,227
Nancy Deichman
Re/Max Premier Realty, Inc. - Ocala, FL
CDPE

I agree that would be good. Now is the time that we really need good investor programs more than ever. Especially when properties are so inexpensive and rates are so low that properties  would positve cash flow easily. thanks for your comment.

Oct 22, 2009 12:56 PM #6
Rainer
16,557
Nelson Acosta
Ocala, FL

I wish this to be true.  Have a great day Nancy.

Nov 02, 2009 11:54 PM #7
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Rainer
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Nancy Deichman

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