Bidding Wars?

[bearishgurl]

CAR, in a way, I think “cash” investors are a good thing in this market. Many potential buyers looking for a principal residence have neither the money nor expertise to fix up some of these beaters to be “habitable” again. Especially if the potential buyers have kids and thus most or all their discretionary income is pledged to kid(s) needs.

With so many homeowners losing their properties in recent years, it stands to reason that not only could they NOT make their payments, they couldn’t maintain or repair their properties either. Many, many properties that lenders have or will market in the future need(ed) substantial work.

In driving around my daily haunts, I’m always gratified to see a long beaten-up property close escrow and get the chain-link treatment around it and porta-potties out the next day/week. This can only be good for an area’s property-value stabilization.

I don’t want to see any more buyer-families take title to marginal or run-down properties by the skin of their teeth that they will never be able to afford to repair. I’d rather see the “deep pockets” obtain them and fix them up quickly, even if intending to “flip.”

It’s a free country out there and may the highest/best and/or easiest-to-close bid win :=]

[bearishgurl]

In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.

[bearishgurl]

In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.

[bearishgurl]

In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.

[bearishgurl]

In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.

[bearishgurl]

In answer to your question, JACKQLYN, I think “cash” investors are willing to invest in whatever makes sense after the repair/rehab numbers are run. This property may or may not be in a first-time-buyer neighborhood. If the investor is looking for rental properties, it may be in a FT-buyer neighborhood. If the investor is looking for a principal residence for their own families, then depending on their expertise in rehabbing, they are more likely looking for a deal in a move-up area. If the investor is looking to flip, they could be looking in ANY area that would make sense financially, given the amount and cost of work it would take to get the property back on the market and the amount they felt the seller would accept.

[sdrealtor]

One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?

[sdrealtor]

One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?

[sdrealtor]

One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?

[sdrealtor]

One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?

[sdrealtor]

One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?

[Rhett]

[quote=sdrealtor]One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?[/quote]

In a tent in your backyard?

[Rhett]

[quote=sdrealtor]One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?[/quote]

In a tent in your backyard?

[Rhett]

[quote=sdrealtor]One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?[/quote]

In a tent in your backyard?

[Rhett]

[quote=sdrealtor]One question-If there werent investors willing to snap up good deals and turn them into rentals where would all the Pigg renters live?[/quote]

In a tent in your backyard?

[Author]

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