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Non-Tech : Investing in Real Estate - Creative Opportunities

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To: Riskmgmt who wrote (2512)	11/26/2015 1:08:05 AM
From: John Vosilla	Read Replies (1) of 2722

We are still buying houses as much as 50% discount of the 2006 high. These guys got to get out from behind their desks and explore the real world Yes that is great Ray... I am as well but not anywhere near the major cities as have to go outside to other counties unless you want to deal with hard core ghetto. Even Hillsborough/Pinellas have gone parabolic. SW FL and SE FL had jumped significantly earlier and are much closer to peak than 2009 lows with the higher end at or near peak.. If you look around the country the major TX cities, Denver, Pittsburgh, Seattle, Nashville, Charlotte to name a few appear to have now also exceeded their 2007 peaks. Still seems many markets outside of the major state university towns in the midwest and interior NE are not YET getting out of town equity locust hot money and also too far to commute to the major cities with good paying jobs are still weak. Much of Michigan, Ohio and upstate NY seem to be some good examples. Even decent sized cities like a Cleveland or Syracuse appear quite weak today so agree with you somewhat but this bubble is going crazy in too many places it feels like 2004-05 brewing all over again .. For an example of hot money of the well to do just look at Mt Pleasant SC nice high end new burb to Charleston you are probably familiar with it. Seems prices are now above the prior peak $383k vs $359k per Zillow.. Nice home listed above the prior July 2005 sale price zillow.com Very high net worth Coral Gables, FL appears to have exceeded the peak though this home in a lower priced zip code of the city that is still 10% from it's peak per Zillow. zillow.com Expecting this to continue for at least another 2-3 years. Very bullish shorter term but very, very bearish longer term 5+ years. What are you expecting?

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