Spring Housing Prediction

[sdduuuude]

Rents coming down. That aint good.

http://www.latimes.com/business/la-fi-rent8-2009jan08,0,5261091.story

[DWCAP]

‘He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[DWCAP]

‘He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[DWCAP]

‘He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[DWCAP]

‘He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[DWCAP]

‘He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[sdrealtor]

Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.

I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.

[sdrealtor]

Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.

I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.

[sdrealtor]

Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.

I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.

[sdrealtor]

Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.

I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.

[sdrealtor]

Just got the latest NOD, NOT and REO list. It is still very small. probably about 1/3rd of what it was a few months ago. There was 1 NOD filed in San Marcos last week. Cmon, we are talking bout San Marcos. An NOD takes a minimum of 5 to 6 months to hit the market as an REO. Unless the lenders pick up the apce inventory will be low and rent will be free for many scofflaws.

I just dont know where the inventory is gonna come from this Spring to decimate pricing again unless lenders start dumping what they already have on their books. We’ll have to wait and see on this one folks.

[(former)FormerSanDiegan]

[quote=DWCAP]’He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[/quote]

I doubt that the McCabe, the president of property management firm Century West Properties really thinks that a 1-BR apartment in West LA is “special”.

[(former)FormerSanDiegan]

[quote=DWCAP]’He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[/quote]

I doubt that the McCabe, the president of property management firm Century West Properties really thinks that a 1-BR apartment in West LA is “special”.

[(former)FormerSanDiegan]

[quote=DWCAP]’He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[/quote]

I doubt that the McCabe, the president of property management firm Century West Properties really thinks that a 1-BR apartment in West LA is “special”.

[(former)FormerSanDiegan]

[quote=DWCAP]’He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[/quote]

I doubt that the McCabe, the president of property management firm Century West Properties really thinks that a 1-BR apartment in West LA is “special”.

[Author]

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