Posted in Real Estate on Jun 18th, 2010
Calculating your break-even price is crucial in the flipping world. If you don’t know the lowest amount you can go, then you have no basis for pricing reductions. Lately we have had no action on three of our houses, so we have to keep lowering them small amounts every week. A large lower will attract [...]
Posted in Real Estate on Jun 10th, 2010
Is anyone doing flips that are moving quickly? We have four properties now that should have sold, priced right, they look good compared to the comps, etc. It seems that the tax credit expiring has lost all of the motivation for our buyers to get contracts. There are lots of looks but no contracts..
Posted in Arizona, Real Estate on Jun 8th, 2010
This is definitely going to have an effect on the economy and rental market. Wouldn’t it be a better solution to find a way to keep them part of the economy? ——————————— Arizona’s tough new immigration enforcement law is fueling an exodus of Hispanics from the state seven weeks before it goes into effect, according [...]
Posted in Foreclosure, Mortgages, Real Estate on Apr 1st, 2010
In Phoenix we have a Fix and Flip subgroup that meets the last Wednesday of every month. This is part of the AZREIA organization that I belong to, which is an amazing investor group that you have to be a part of. Send me a comment through the blog and I will give you more [...]
Posted in Finances, Online, Real Estate on Mar 14th, 2010
Lets all start brainstorming. We need to start exporting goods, and creating jobs. What industries can we compete in? Arizona was almost entirely construction based, which as we all know has all but stopped. I re-hab houses and add value to neighborhoods, but we are only employing about 10 people through our contractors. That doesn’t [...]
Posted in Foreclosure, Real Estate on Mar 11th, 2010
We are not out of this yet, there is still alot of opportunity to make money. ———————– While foreclosures in the U.S. were down 2 percent in February from January, Arizona posted a drop of nearly 21 percent. Still, Irvine, Calif.-based RealtyTrac puts the state in the No. 2 spot national behind only Nevada for [...]
Posted in Commercial on Mar 5th, 2010
This was an interesting project, some amazing homes hopefully they can find a buyer once they complete the project.. ————————— A Wisconsin company that manufactures and distributes food-processing ingredients has been selected to purchase the opulent Chateaux on Central brownstone project. The winning bid: $7 million. The unfinished residential development at the northwest corner of [...]
Posted in Real Estate on Feb 16th, 2010
Chandler man arrested for gutting foreclosed home.
Posted in Real Estate on Jan 27th, 2010
This is hopefully the best news to date and I think we will start to see a huge shift in the market: Today HUD lifted its rule prohibiting FHA borrowers from purchasing properties which were acquired within 90 days by the seller. The waiver of this rule takes effect February 1, 2010. Here are the [...]
Posted in Commercial on Dec 7th, 2009
This could be good news, or could just be greed. Form your own opinion! ——————————————————– A global survey of more than 2,000 high-net-worth investors commissioned by Barclays Wealth reveals that approximately one in four respondents (26%) believe that residential and commercial real estate provide better long-term prospects than other asset classes. Slightly more than half [...]