GoFuckYourself.com - Adult Webmaster Forum - View Single Post

kane · 12-03-2007, 01:58 AM

It really depends on where you live. The area I live in is starting to stagnate and it is starting to see the rush of people trying to sell so they can get out of their variable rate mortgage before their house payment nearly doubles. There is a house my brother just rented that the owner ended up having to rent because she couldn't sell it. 4 years ago she bought it for 325K. She was one of 5 bids at that price and she agreed to pay all costs so they sold to her. now 4 years later the house has gone up, then back down in price. she wanted to sell it for 340K and got no offers. She lowered it to 325K and got no offers. There are literally 4 comparable houses on the market within 2 blocks of hers. She ended up renting it out as she waits for the market to rebound.

Another indicator. A development company built phase one of a development about 2 years ago in a town about 10 miles from me. the houses were priced from 275-300K They were all pre-sold before they had even broke ground on the first one. Now that phase 2 is done they have 2 houses sold and the other 25 sitting empty with no buyers and they are bleeding money from it.

If you have some cash and are in the right market over the next 12-18 months you could buy a house or 2, rent them out (or live in them) for 2-3 years. let the market rebound and make a nice little profit.

12-03-2007, 01:58 AM
kane Too lazy to set a custom title Join Date: Aug 2001 Location: portland, OR Posts: 20,684	It really depends on where you live. The area I live in is starting to stagnate and it is starting to see the rush of people trying to sell so they can get out of their variable rate mortgage before their house payment nearly doubles. There is a house my brother just rented that the owner ended up having to rent because she couldn't sell it. 4 years ago she bought it for 325K. She was one of 5 bids at that price and she agreed to pay all costs so they sold to her. now 4 years later the house has gone up, then back down in price. she wanted to sell it for 340K and got no offers. She lowered it to 325K and got no offers. There are literally 4 comparable houses on the market within 2 blocks of hers. She ended up renting it out as she waits for the market to rebound. Another indicator. A development company built phase one of a development about 2 years ago in a town about 10 miles from me. the houses were priced from 275-300K They were all pre-sold before they had even broke ground on the first one. Now that phase 2 is done they have 2 houses sold and the other 25 sitting empty with no buyers and they are bleeding money from it. If you have some cash and are in the right market over the next 12-18 months you could buy a house or 2, rent them out (or live in them) for 2-3 years. let the market rebound and make a nice little profit.