by Phyllis Rockower | Jan 22, 2013 | Uncategorized
Low inventory due to many people still upside down and hedge funds buying up everything are creating a housing shortage that is causing prices to jump almost 20% year to year in our area. Technical factors rather than fundamentals are driving prices. Housing prices...
by Phyllis Rockower | Jan 20, 2013 | Housing News
Realtors report that attendance at open houses is way up even in winter months. In addition, requests for pre approval letters from mortgage brokers is up. Website traffic to real estate sites is up. People are assured that the worst is over for the housing market so...
by Phyllis Rockower | Jan 18, 2013 | Uncategorized
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...
by Phyllis Rockower | Nov 16, 2012 | Housing News
According to Zillow, there was no advantage of buying an REO. You got no discount at all in some areas and a measly 1..8 % discount in many others. Cash rich hedge funds are crowding everyone else out. Just attend a local trust sale and you will see for yourself. Most...
by Phyllis Rockower | Oct 18, 2012 | Housing News
This article really describes our market perfectly. Hedge funds are in there buying up everything regardless of price or condition. In some areas, there is less than a one month supply. 6 months supply is normal. If you are looking to buy a house below $313k, lots of...
