[CA renter]

Wow. I’ve been around real estate all my life (broker/investor parents) and never knew this. That is very important information for everyone to know.

When I’ve bought before though (near the bottom), the tax was based on my purchase price, so wondering if it’s not REO-specific????

[CA renter]

1. Credit expansion

2. Leaving the gold standard/inflation

3. Baby Boomers

Maybe one or all of the above???

[CA renter]

1. Credit expansion

2. Leaving the gold standard/inflation

3. Baby Boomers

Maybe one or all of the above???

[CA renter]

1. Credit expansion

2. Leaving the gold standard/inflation

3. Baby Boomers

Maybe one or all of the above???

[CA renter]

1. Credit expansion

2. Leaving the gold standard/inflation

3. Baby Boomers

Maybe one or all of the above???

[CA renter]

1. Credit expansion

2. Leaving the gold standard/inflation

3. Baby Boomers

Maybe one or all of the above???

[CA renter]

This is probably the strongest “spring bounce” I’ve seen since 2004/2005, but we have to consider why.

Ever since 1996/1997, people have watched housing prices soar out of their reach. For the first time in over 10 years, people are seeing prices drop — in many cases, by 30-50%. This will naturally bring more people into the market.

If you look at the sales histories of a number of houses, you’ll see multiple foreclosures on the same homes during downturns. This is just the first wave of knife-catchers.

You’ll know we’re near the bottom when you **don’t** see multiple families looking at an over-priced 1970s tract shack that’s “on sale” for $450K.

Just MHO. 🙂

[CA renter]

This is probably the strongest “spring bounce” I’ve seen since 2004/2005, but we have to consider why.

Ever since 1996/1997, people have watched housing prices soar out of their reach. For the first time in over 10 years, people are seeing prices drop — in many cases, by 30-50%. This will naturally bring more people into the market.

If you look at the sales histories of a number of houses, you’ll see multiple foreclosures on the same homes during downturns. This is just the first wave of knife-catchers.

You’ll know we’re near the bottom when you **don’t** see multiple families looking at an over-priced 1970s tract shack that’s “on sale” for $450K.

Just MHO. 🙂

[CA renter]

This is probably the strongest “spring bounce” I’ve seen since 2004/2005, but we have to consider why.

Ever since 1996/1997, people have watched housing prices soar out of their reach. For the first time in over 10 years, people are seeing prices drop — in many cases, by 30-50%. This will naturally bring more people into the market.

If you look at the sales histories of a number of houses, you’ll see multiple foreclosures on the same homes during downturns. This is just the first wave of knife-catchers.

You’ll know we’re near the bottom when you **don’t** see multiple families looking at an over-priced 1970s tract shack that’s “on sale” for $450K.

Just MHO. 🙂

[CA renter]

This is probably the strongest “spring bounce” I’ve seen since 2004/2005, but we have to consider why.

Ever since 1996/1997, people have watched housing prices soar out of their reach. For the first time in over 10 years, people are seeing prices drop — in many cases, by 30-50%. This will naturally bring more people into the market.

If you look at the sales histories of a number of houses, you’ll see multiple foreclosures on the same homes during downturns. This is just the first wave of knife-catchers.

You’ll know we’re near the bottom when you **don’t** see multiple families looking at an over-priced 1970s tract shack that’s “on sale” for $450K.

Just MHO. 🙂

[CA renter]

This is probably the strongest “spring bounce” I’ve seen since 2004/2005, but we have to consider why.

Ever since 1996/1997, people have watched housing prices soar out of their reach. For the first time in over 10 years, people are seeing prices drop — in many cases, by 30-50%. This will naturally bring more people into the market.

If you look at the sales histories of a number of houses, you’ll see multiple foreclosures on the same homes during downturns. This is just the first wave of knife-catchers.

You’ll know we’re near the bottom when you **don’t** see multiple families looking at an over-priced 1970s tract shack that’s “on sale” for $450K.

Just MHO. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[CA renter]

lbjames,

I think what Rustico is trying to say (and it is what I’m saying), is that you can buy a house TODAY that will break-even as a rental.

We sold a house in Oceanside in Q2, 2004 for $400K, and did it in a hour. Right now, you can get a comparable house for under $200K. You could probably rent it out for $1,200-$1,600, depending on how much work you want to put into it and exactly where it is and what you want to deal with for tennants (multiple families can pay more, but do you want that in your rental?). If you put 20% down and have excellent credit, you could break even if you can find something that just needs a little cosmetic work.

Even I (a long-time uber-bear) am being tempted by a few things in O’side and Escondido (for rentals). After waiting for so many years, it’s very difficult to sit on one’s hands and wait when we see stuff that just might make sense — even though it will very likely get worse.

If you aren’t picky about where you live, you can buy today with fairly mild downside potential. This is why you’re seeing the sales volume pick up. I think the downside for **sales volume** is pretty limited from here on out. What’s left is the price drops. 🙂

[Author]

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