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Buy Low Sell High!!!

By Marvin Thomas

Mortgage and Lending with Allegiance Mortgage Corparation

July 26, 2008 06:23 AM

The top markets share certain common characteristics. They all have:

Moderate home prices relative to the national average, and never participated in the wild inflationary spirals of the boom years....or the rapid deflation after 2006.
Solid local economies, producing new jobs, even in the face of a national slowdown.
Strong local demand for both single family rental units and "starter" homes for renters looking to buy.
Prevailing rent levels strong enough to produce positive cash flows for investors.

Some of the top area are in Texas (Dallas, Houston, Fort Worth and San Antonio), along with Denver, Colorado, Charlotte, North Carolina, St. Louis, Missouri, Milwaukee, Wisconsin, and Chicago, Illinois and Kansas City, Kansas.

I hate to see people lose their homes. These are some of the contributing factors: divorce, job loss, illness, death or impending foreclosure.

What have you found that investors are looking for in buying low and selling high?

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Tracy Santrock

Santrock Realty Group Inc. , - Cary, NC

Raleigh - Cary Broker

You forgot the Triangle Marvin! My business is still booming and the Triangle is also listed right up there w/Charlotte!

Jul 28, 2008 01:00 PM

David Slavin

Keller Williams Premier - Katy, TX

CDPE, ABR, SRES Keller Williams Premier

I'm seeing investors buying low and renting high. Not selling.

Jul 28, 2008 01:09 PM

Marvin Thomas

Allegiance Mortgage Corparation - Fayetteville, NC

Tracy, you are right. Didn't mean to leave out Triangle. I'm glad to hear your business is booming. What price range are you seeing are being foreclosed on? How is the job market?

Jul 29, 2008 11:59 AM

David thanks, for your comment. Now is the time to do that, because if they hold on to them until the market turn they will make a mint now and later. David do you manage the properties or the investors want to manage their on properties?

Jul 29, 2008 12:02 PM

Dana Lim

Allstate Insurance - Tucson, AZ

Marvin,

Out here everyone wants property near the University of Arizona but most of those properties are older and need much fixing up. Some are bulldozing the old properties and putting up "mini-dorms" that sort of look like a 4plex. There is a movement to stop that and "preserve" the "historic" buildings. I have mixed feelings on that subject.

Dana Lim
Tucson, AZ.

Jul 30, 2008 08:16 AM

Laura Moore Godek

Laura Moore Godek, PC - McHenry, IL

Please define "top market".

Jul 31, 2008 03:04 PM

Laura, basicly these are some area with high REO rates, but still have some of the above characteristic listed above in my opinion.

Aug 05, 2008 03:58 AM

Dana in your market where the houses being torn down, what are there status? Were they boarded up, REO'S, unkept? What are the general market value for them? What are the general size and sqft? I want to think that these properties are great canidates for turning them into efficentcy suites or appartments. Which would help persevre them, generate great cash flow, help solve to college housing problem, and cheaper than rebuilding. What do you think?

Aug 05, 2008 04:05 AM

Buy Low Sell High!!!

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Marvin Thomas

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