Hedge fund buys 970 homes
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Colony capital made a deal with the banks to buy 970 foreclosed homes. They made a deal with the govt to rent them out so the real estate market would not tumble. These homes are in Ca, nevada and az- the worst hit states. They paid an average of 112% of value. And you wonder why we can’t get deals? I tell my students not to pay more than 70% of value.
If you want to know the right way to find deals today, you need to attend my upcoming basic training bootcamp on Jan 26th.
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Home prices rise in 20 big cities
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The standard and poor/case shiller index showed that prices are rising when compared with last year even though there was a slight decline from last month.

Home prices in LA are up 10.5% from the bottom and up 12.2% in San Diego. Coastal properties are the ones causing this while inland areas lag.

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