Well, I’m a little OCD when it comes to RE. I check regularly b/c I think there may be deals to be had, but hard to come by and when they come up, they go QUICK.
I learn along the way. There are several zip codes I check, usually on SDL. But only once in a while did I go to Realtor to check on multi-units (usually not as nice as SFH)
I remember that a duplex came up on Jackdaw in MH on a Friday. I hadn’t checked that week or weekend. I checked on the Monday following the listing. It went pending w/10 offers. Listed at something like 500k! I would have gone over the list on that – and I usually low ball! Each unit was 2/1. It made sense w/down and rent – covering PITI even above 500k. At peak they were selling for 750k on that street (2 years earlier)
So since then, I try to check regularly b/c you just never know. But I also monitor NODs and foreclosures to see what’s on the horizon and know the inventory.
For example, 2828 Deerpark caught my eye. Anyone not doing their homework would think it’s a good deal.
BUT 2 places were taken off the market (stealth), one listed for almost a year, one that was going to foreclosure that the bank hasn’t listed, one w/a NOD, and 3 others listed.
So that makes me think that street has some more price reductions on the way.
PB is sticky, but the hidden inventory is there. I can’t give addresses for all of them, but the one that readily comes to mind always is 1844 Law (very nice). Listed for a very long time, like 2 years, I think, for a million something. Reduced slightly, but still at a mil. NOD was filed in Oct. 2007. Foreclosure occurred like May 1 or thereabouts. Still not listed for sale by bank.
That’s just one quick example. There are many more. So my long answer, if you have time to check, then it doesn’t really hurt.
