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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: Broken_Clock who wrote (76261)10/15/2012 6:31:26 PM
From: Smiling Bob1 Recommendation  Read Replies (2) of 119360
 
I have been watching local townhome sales/rentals
A few years ago there were 4-5 rentals in one huge deveopment
Just checked and there are about 30 rentals cuurently
All the rents have room to come down
But it is likely another period of owners needing to make the payment or wanting to make a profit

Another place had about 7 sale listings over the spring summer
Maybe 1-2 sold
Some others still trying, but prices still too high
2 are for now for rent

There's a single/foreclosure 3br/1 bth that was purchased for about 150k on a main street last year
It was termite infested, so they had to gut it
Becuase of location, they're lucky to get 1500 month
They're asking 2500. Again, trying to make up for their mistake. The house will be sitting all winter.

All in all, there are still a lot of disillusioned sellers and landlords and flippers out there.
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