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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Vosilla who wrote (46225)12/28/2005 3:45:11 PM
From: KMRead Replies (2) of 306849
 
John, again I have to to ask . . . which properties are you going to buy and improve.

The inner cities of Houston, Dallas and Austin have had California - like appreciation already since the early 1990s and have been "improved" already by and large. The ones that aren't worth improving are being bought as teardowns by local McMansion spec house builders who sell their gigantic ugly crap for 2 - 3X what the older houses go for (when they CAN sell them - a lot of them are sitting on the market now). If you want, I could take a digital camera out and take some pics of what I'm talking about for you to see. I simply can't believe there is any appreciation available relative to risk that is worth taking at this time.

Then, in the burbs, you have a vast sea of crap-built cookie cutter stuff which is a complete waste of time to buy other than to live in. You simply cannot make any money reselling them. The builders are right next to you and they are building and building and building and building . . . and the intelligensia around there ALWAYS will buy new over used, especially with the incentives the builders are throwing in these days (a year of no payments, a year of maid service, you get the picture).

So, you gonna buy high rise condos in Oak Cliff near the zoo and the crack houses (worst crime in the DFW area)?

Where is all this appreciation going to come from?
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