LA Land: Big dip in listing prices: Down $6,500 in a week
- Thread starter Anonymous_IHB
- Start date
Trooper_IHB
New member
Good link Anonymous. Thx.
Found this little tidbit in the comments:
<em>"This just in: Lansner in OC reports that a company that tracks nationwide Axiometrics reports that rents are down 3% in OC. Axoiometrics says that they have more reliable reporting because they survey 100% of 12,000 properties and talk to the leasing agents instead of the owners/managers". </em>
Found this little tidbit in the comments:
<em>"This just in: Lansner in OC reports that a company that tracks nationwide Axiometrics reports that rents are down 3% in OC. Axoiometrics says that they have more reliable reporting because they survey 100% of 12,000 properties and talk to the leasing agents instead of the owners/managers". </em>
lawyerliz_IHB
New member
Well, this isn't your OC, but an interesting Fla OC anecdote.
Client "owns" 4 houses, which he can't break even on, and
planned to flip. He has a friend who wanted to buy a condo,
and found a condo in a tower(ing inferno). It was previously
on sale for in the 800s; now being offered at 280,000. My client's
friend was willing to buy, but wanted the $1200 assn fees
to be guaranteed for a year.
Only offered 3 months. So many vacant units there's no money
to pay for insurance. Sorta important going into hurricane season
as we are.
No deal.
By the way, I told the client to walk. He wants to give them a
deed in lieu of foreclosure. They want to have him try a short
sale first! He paid over 200 for the houses in Orlando, (the real
OC!??!) which is
the best mkt in Fla. The real estate agents were so unenthusiastic
that they never even sent him a listing agreement. I said, hey,
try to sell under 100,000; maybe someone will buy. He said ok.
The bank lady was coy about whether they would accept a discount
that great.
Client "owns" 4 houses, which he can't break even on, and
planned to flip. He has a friend who wanted to buy a condo,
and found a condo in a tower(ing inferno). It was previously
on sale for in the 800s; now being offered at 280,000. My client's
friend was willing to buy, but wanted the $1200 assn fees
to be guaranteed for a year.
Only offered 3 months. So many vacant units there's no money
to pay for insurance. Sorta important going into hurricane season
as we are.
No deal.
By the way, I told the client to walk. He wants to give them a
deed in lieu of foreclosure. They want to have him try a short
sale first! He paid over 200 for the houses in Orlando, (the real
OC!??!) which is
the best mkt in Fla. The real estate agents were so unenthusiastic
that they never even sent him a listing agreement. I said, hey,
try to sell under 100,000; maybe someone will buy. He said ok.
The bank lady was coy about whether they would accept a discount
that great.