WHERE DO THEY FIND FELLOWS LIKE WRONG WAY LARRY?!!
Here’s another Video from REALTOR TV (YOU pay for this in your N.A.R. dues) (I suggest Nitrous Oxide or Sodium Pentothal if you’re going to try to watch the whole video), in which Larry Yun makes a tortured, unintelligible case for the new upswing in real estate sales, HOWEVER, as I pointed out in my recent post…N.A.R. is no longer keeping track of Deals Fell Thru (DFTs) which are Purchase Contracts that get cancelled due to Buyers Not Qualifying or the Appraisal found that the Price was too Optimistic.
Since N.A.R. is now accepting only HAPPY TALK, maybe we might consult the SAD TALK of the Wall Street Journal (WSJ), just Google it.
(Courtesy Out of the Blue Photog)
The WSJ believes that while some areas have found a bit of a bottom, there is still more Mine Shaft to explore before we enter the Swimming Pool phase of the real estate recovery…
[____swimming pool__________] rather than a “V” shaped Roller Coaster recovery. We’ll be diving along the bottom for a while says the WSJ. I believe that it may take another three to five years to clear this Troubled Inventory.
(Courtesy Holy Taco website)
Then there is that Shadow Inventory that Larry discusses. There may be as many as 8 Million more “UNDER WATER” homeowners who for one reason or another will decide to, or be forced to, seek a Short Sale or Foreclosure.
That’s why I always say…INVESTORS Call me! The prices are great, 5% Fixed Rate financing on 2 to 4 Unit Apartment Buildings. Possibly better on Single Family Residences purchased as rentals.
AND….Cut-Their-Heart-Out Deals with the Lenders who own these Shadow Inventory Properties.
INVESTOR PATRIOTS MUST STEP UP TO THE PLATE AND PROVIDE DECENT HOUSING FOR THE DISPLACED!
California has a 900 mile coastline and NO ONE is capable of building anymore coastline. TheLos AngelesBasinis bordered by the mountains on the east, the Pacific Ocean on the west,San Diegoon the south andMalibuon the north. The warm desert breezes run into the cool ocean breezes and create a Mediterranean climate that everyone in the world to aspires to experience. However, right now,Californiareal estate is experience the same downturn that every place inAmericais currently experiencing.
Apartment Building Investments in Orange County CA are going to be a spectacular move in the very near future and will begin their upside value appreciation as the single family market continues to deteriorate.
The more homeowners who lose their homes to foreclosure or short sale, the more apartments will be needed. Building new apartments inNorth Orange County,CAis nearly out of the question because the cost of small vacant parcels makes the cost of new construction prohibitive.
Over the past 20 years the Cities have created such stringent "off street" parking restrictions that most of the older 4 Plex sized parcels no longer qualify without a costly building code "variance".
So, buy Orange County Apartment Buildings before the prices and interest rates go up, again.
Call me Now!