Luxury homes geared toward Chinese buyers taking up to half a year to unload. It used to be only cash buyers from China getting loose rules to gettheir money out of China.
Spring Housing Already Overheating-
If they have a loan, I want to take that over subject to, If its a nice low interest rate, I try to keep the property if it does not need a lot of work. What I want to do is get the owner to hold their equity in a 2nd. This way you can get in light and stay in light, I look to keep those, Anything that will not let me get my money back gets flipped- unless I have a partner who wants to stay in and get a good return for their money,
Southern California home prices reached the highest level in Dec. in more than nine years.
A better economy and a shortage of homes for sale combined to jump prices up 6.8% from a year earlier, real estate data firm CoreLogic said Tuesday. Decembers median price of $470,000 was up 1.1% from a month earlier.
1. Interest rates have dropped again. Why? In crisis times, people flock to our treasury bonds for safety. The higher the price goes, the lower the yield. We are the safest place in the world (for now). So its a good time to refinance or buy property.
I know some of the gurus give you complicated formulas and spreadsheets to analyze income properties. As you know, the value of an income property is in its income. Comps are useless. You have to know what market rents are, the approximate age and condition of the property and who pay utilities.