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GaTech.
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March 28, 2011 at 5:47 PM #682494March 28, 2011 at 8:57 PM #681345
jpinpb
ParticipantI’ve been watching it and it seems there are declines. pemeliza started a thread on Mission Hills: Low End Trend But surprisingly, there aren’t as many NODS in 92103 compared to other ZIPs.
March 28, 2011 at 8:57 PM #681399ParticipantI’ve been watching it and it seems there are declines. pemeliza started a thread on Mission Hills: Low End Trend But surprisingly, there aren’t as many NODS in 92103 compared to other ZIPs.
March 28, 2011 at 8:57 PM #682015ParticipantI’ve been watching it and it seems there are declines. pemeliza started a thread on Mission Hills: Low End Trend But surprisingly, there aren’t as many NODS in 92103 compared to other ZIPs.
March 28, 2011 at 8:57 PM #682156ParticipantI’ve been watching it and it seems there are declines. pemeliza started a thread on Mission Hills: Low End Trend But surprisingly, there aren’t as many NODS in 92103 compared to other ZIPs.
March 28, 2011 at 8:57 PM #682509ParticipantI’ve been watching it and it seems there are declines. pemeliza started a thread on Mission Hills: Low End Trend But surprisingly, there aren’t as many NODS in 92103 compared to other ZIPs.
March 29, 2011 at 5:56 AM #681385pemeliza
ParticipantOne slightly positive sign in MH is that the number of 1M+ sales seems to be picking up lately. It seems to be the tale of three markets. The high-end trophy properties are starting to budge finally and the low end is doing fine as usual. The middle of the road homes seem to be getting hit the hardest.
It seems like people who have 600-800k to spend are not satisfied with the school districts in MH. For the 1M+ buyer school district doesn’t matter because they are going to use private schools anyway. Finally, at the low end some properties are getting close to rental parity and moving for that reason.
What does this all mean long term? If you are a buyer in this area I believe it is imperative to try and purchase a property that would ultimately appeal to a high-end buyer. This is pretty much what we did back in ’09 by purchasing a major fixer on a trophy lot. Although we are satisfied with our purchase we certainly, like CONCHO, would lose money if we had to sell today.
If you can’t at least get a trophy lot then my advice would be to not buy until you can get very close to rental parity. I am afraid that the mediocre homes that are listed at prices way out of whack with local rents are going to ultimately get knocked down the hardest.
March 29, 2011 at 5:56 AM #681439ParticipantOne slightly positive sign in MH is that the number of 1M+ sales seems to be picking up lately. It seems to be the tale of three markets. The high-end trophy properties are starting to budge finally and the low end is doing fine as usual. The middle of the road homes seem to be getting hit the hardest.
It seems like people who have 600-800k to spend are not satisfied with the school districts in MH. For the 1M+ buyer school district doesn’t matter because they are going to use private schools anyway. Finally, at the low end some properties are getting close to rental parity and moving for that reason.
What does this all mean long term? If you are a buyer in this area I believe it is imperative to try and purchase a property that would ultimately appeal to a high-end buyer. This is pretty much what we did back in ’09 by purchasing a major fixer on a trophy lot. Although we are satisfied with our purchase we certainly, like CONCHO, would lose money if we had to sell today.
If you can’t at least get a trophy lot then my advice would be to not buy until you can get very close to rental parity. I am afraid that the mediocre homes that are listed at prices way out of whack with local rents are going to ultimately get knocked down the hardest.
March 29, 2011 at 5:56 AM #682055ParticipantOne slightly positive sign in MH is that the number of 1M+ sales seems to be picking up lately. It seems to be the tale of three markets. The high-end trophy properties are starting to budge finally and the low end is doing fine as usual. The middle of the road homes seem to be getting hit the hardest.
It seems like people who have 600-800k to spend are not satisfied with the school districts in MH. For the 1M+ buyer school district doesn’t matter because they are going to use private schools anyway. Finally, at the low end some properties are getting close to rental parity and moving for that reason.
What does this all mean long term? If you are a buyer in this area I believe it is imperative to try and purchase a property that would ultimately appeal to a high-end buyer. This is pretty much what we did back in ’09 by purchasing a major fixer on a trophy lot. Although we are satisfied with our purchase we certainly, like CONCHO, would lose money if we had to sell today.
If you can’t at least get a trophy lot then my advice would be to not buy until you can get very close to rental parity. I am afraid that the mediocre homes that are listed at prices way out of whack with local rents are going to ultimately get knocked down the hardest.
March 29, 2011 at 5:56 AM #682196ParticipantOne slightly positive sign in MH is that the number of 1M+ sales seems to be picking up lately. It seems to be the tale of three markets. The high-end trophy properties are starting to budge finally and the low end is doing fine as usual. The middle of the road homes seem to be getting hit the hardest.
It seems like people who have 600-800k to spend are not satisfied with the school districts in MH. For the 1M+ buyer school district doesn’t matter because they are going to use private schools anyway. Finally, at the low end some properties are getting close to rental parity and moving for that reason.
What does this all mean long term? If you are a buyer in this area I believe it is imperative to try and purchase a property that would ultimately appeal to a high-end buyer. This is pretty much what we did back in ’09 by purchasing a major fixer on a trophy lot. Although we are satisfied with our purchase we certainly, like CONCHO, would lose money if we had to sell today.
If you can’t at least get a trophy lot then my advice would be to not buy until you can get very close to rental parity. I am afraid that the mediocre homes that are listed at prices way out of whack with local rents are going to ultimately get knocked down the hardest.
March 29, 2011 at 5:56 AM #682548ParticipantOne slightly positive sign in MH is that the number of 1M+ sales seems to be picking up lately. It seems to be the tale of three markets. The high-end trophy properties are starting to budge finally and the low end is doing fine as usual. The middle of the road homes seem to be getting hit the hardest.
It seems like people who have 600-800k to spend are not satisfied with the school districts in MH. For the 1M+ buyer school district doesn’t matter because they are going to use private schools anyway. Finally, at the low end some properties are getting close to rental parity and moving for that reason.
What does this all mean long term? If you are a buyer in this area I believe it is imperative to try and purchase a property that would ultimately appeal to a high-end buyer. This is pretty much what we did back in ’09 by purchasing a major fixer on a trophy lot. Although we are satisfied with our purchase we certainly, like CONCHO, would lose money if we had to sell today.
If you can’t at least get a trophy lot then my advice would be to not buy until you can get very close to rental parity. I am afraid that the mediocre homes that are listed at prices way out of whack with local rents are going to ultimately get knocked down the hardest.
March 29, 2011 at 11:12 AM #681435sdgrrl
ParticipantThere seems to be a lot of homes at the 1 mill mark that have been sitting for awhile and I’m not sure what the sellers think will happen. The house behind mine has been for sale for over a year at $1.2-1.6 and there are no takers. The house across the street from it on Vine is much smaller and much cheaper at a fraction of the price- once again no takers.
Agree whole heatedly about the rent/buy ratio. I notice though high-end rentals in my area are sitting collecting dust. Love my neighborhood- just think the pricing is out of whack and needs to come down in this economy.
March 29, 2011 at 11:12 AM #681488ParticipantThere seems to be a lot of homes at the 1 mill mark that have been sitting for awhile and I’m not sure what the sellers think will happen. The house behind mine has been for sale for over a year at $1.2-1.6 and there are no takers. The house across the street from it on Vine is much smaller and much cheaper at a fraction of the price- once again no takers.
Agree whole heatedly about the rent/buy ratio. I notice though high-end rentals in my area are sitting collecting dust. Love my neighborhood- just think the pricing is out of whack and needs to come down in this economy.
March 29, 2011 at 11:12 AM #682105ParticipantThere seems to be a lot of homes at the 1 mill mark that have been sitting for awhile and I’m not sure what the sellers think will happen. The house behind mine has been for sale for over a year at $1.2-1.6 and there are no takers. The house across the street from it on Vine is much smaller and much cheaper at a fraction of the price- once again no takers.
Agree whole heatedly about the rent/buy ratio. I notice though high-end rentals in my area are sitting collecting dust. Love my neighborhood- just think the pricing is out of whack and needs to come down in this economy.
March 29, 2011 at 11:12 AM #682246ParticipantThere seems to be a lot of homes at the 1 mill mark that have been sitting for awhile and I’m not sure what the sellers think will happen. The house behind mine has been for sale for over a year at $1.2-1.6 and there are no takers. The house across the street from it on Vine is much smaller and much cheaper at a fraction of the price- once again no takers.
Agree whole heatedly about the rent/buy ratio. I notice though high-end rentals in my area are sitting collecting dust. Love my neighborhood- just think the pricing is out of whack and needs to come down in this economy.
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