Can you believe it? After years of bulging inventory of reos, the days on market has shrunk to an amazing 33 in L.A.
Because of several reasons:
- Interest rates so low makes for a positive cash flow situation for buy and hold
- Upside down home owners not putting houses on market
- Home Owners with equity have seen it shrink and are waiting for market to come up before they sell.
- Very few new homes being built
- hedge funds and private equity funds scooping up anything and everything
So anything decent is getting MULTIPLE OFFERS.
Once again I say, “If the real market is giving you lemons, make lemonade”.
DO NOT GIVE UP ON THE BEST WAY TO MAKE MONEY!!! That is still real estate.
You just have to switch gears. That’s the benefit of having lots of tools in your arsenal. Every strategy works- only not at the same time and not always. You have to change with the market. If one thing is not working, try another.
Want to learn more? Boot camp market update on what to do now. July 21st. Click here for more info.