Real Estate Forums

RE.Manager

As a property manager in one of the past "hot markets" I am seeing many first time "investors" walk away from properties. They just got on the bandwagon with no questions asked. Now these "investors" are scared, angry and looking for someone to blame other than themselves.

At some point the real long term investors will come in and buy the bargains.

The other issue in rentals at this time is many home owners who have been unable to sell want to lease. This puts more vacant rentals on the market, lowers rental prices and again lowers values for sales. In addition the owners are not investors, are not educated in investments and do not have the deep pockets that may be needed when the air conditioner breaks down.

Interesting times.

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Thirty years experiance - and I am still learning.

lorajg

No, the area is still growing because it's a great area to live and there is a lot of construction but the older homes are sitting on the market for a long time unless they owners lose money.