September is in the books, so it’s time to take a good hard look at how the Tri-Lakes market did through September of 2007
There were 37 new homes listed for sale. The average list price of these homes was $492,655
There were 11 homes that went “Under Contract”, the average list price of those homes was $429,463
Not long ago I wrote a post on Real Estate Speculating vs. Real Estate Investing. My main point was that
I have heard a lot lately about “Subject To” real estate investing. “Subject To” is when you purchase an investment property subject to existing financing. The seller keeps the current loan on the property in place and a separate agreement is signed to make it available to the investor and eventually the buyer’s use.
I spend a fair amount of time thinking about money and my ideas about the subject have changed over time. Money, in my view, is not the key to happiness – but being overwhelmed by money (or by the lack of it) can
Recently I was looking for a new tenant for a single family home that was going to be vacant in about a month’s time. The house is in the back of a quiet cul-de-sac, so I spoke to a neighbor a couple of houses over on a busy corner and paid her $20 bucks to put a “For Rent” sign with my phone number in her front yard.
I grabbed this YouTube video from Chris Lengquist’s real estate blog.
Blog Carnivals are a great way to get a quick view of the topics that bloggers are talking about.
Citigroup, the largest bank in the United States, announced today that earnings fell about 60% from last year at this time due largely to losses sparked by the U.S. subprime mortgage mess. Citigroup will write down loans estimated at $1.3 billion on subprime related assets.
Exactly what does this mean? For the consumer, not great news. Subprime lending is being blamed for the unprecedented surge in foreclosure activity around the U.S., partially responsible for the drop in consumer confidence. Countless media commentary is advising average homeowners not to buy a new home for at least a year. If you have your house on the market, expect to cut your asking price significantly if you want to sell your home.
A few days ago I wrote a post about inefficiencies in the real estate industry, and how most investors who sell a home using a Realtor will end up overpaying if they pay a five or six percent commission.
I wrote a similar post over at ActiveRain, a real estate network populated primarily by Realtors. A fairly interesting dialogue ensued, but overall I felt about as welcome as Don Imus at a rap concert.
Our current real estate market in Las Vegas (and around the country) presents an interesting test for all involved… from the buyers, to the sellers to the practicing real estate agents and also for the brokerage firms