Comments on: General Update

By: Another Investor

Another Investor — Sat, 04 Apr 2009 12:51:49 +0000

As long as mortgage rates are low and the $8,000 tax credit is available, the inventory will fly off the shelves. I see the Republic finally noticed the change in the market this morning (April 4th). They got smacked in the nose by the record sales in March. Where did all that money that was pulled out of the stock market go? Right into real estate.

I saw one 3/2 in Rancho Santa Fe at $69,900 on the MLS. It’s long gone. Not many good neighborhoods in Avondale, but that’s a nice area, with Litchfield Park schools and good access to the freeway and lots of high quality shopping.

By: Kenric

Kenric — Fri, 03 Apr 2009 17:37:43 +0000

AI, sorry I forgot to respond to this. I have a friend who is a first time buyer. She’s looking at a $65k 3/2 with the $8k credit. Can you imagine getting a $57k house in a good neighborhood in a large metro city?

My old house is still on the market at $229k. It will probably stay until it hits 190k, that’s what it was priced at intially during new construction. A similar home is at $189k without a pool right now.

By: Kenric

Kenric — Fri, 03 Apr 2009 17:35:03 +0000

Yes it was from the online store. Profit margins were OK. Nothing like 50% or anything, but not razor thin either.

By: ubu50

ubu50 — Fri, 27 Mar 2009 08:35:09 +0000

$100K gross? Was this from your online store? How much of that was profit?

By: Another Investor

Another Investor — Wed, 25 Mar 2009 12:01:12 +0000

The cash flow deals are all over the place. I have also been looking at Avondale, under $70,000. A number of other places offer similar deals.

Not surprised about the Dysart Ranch house. Will it sell at $229,000? That price in that part of Litchfield Park might still be a tad high. We will see.

North Peoria is really hopping. Decent foreclosures sell within a few days. All the low priced inventory has been snapped up, effectively raising prices. Even the builders are moving inventory. Wish I’d bought in Westwing or Vistancia a few months ago.

There’s a ton of pent up demand and the $8,000 first time buyer’s tax credit is having a huge impact. Add in the low mortgage rates, and people are hopping off the fence and into the market.