CNN says 'these are the glory days of the residential real estate investor'. Not the one of a few years back, buying and flipping, but the new breed of vulture investor. They buy distressed properties - those in short sales or foreclosures - and hold on to them as rentals. It takes a long term approach which is arguably the way to go...planning no price appreciation for a couple of years but enjoying a strong rental market and good occupancy rates.
I know of a couple multi-family units coming on the market so if this sounds good, let me know!

First time Buyers are stealing equity. Those of us that bought on the mid 2000's...not so much. With the Buyer's market we are experiencing, and the phenominal interest rate, these first timers may not even know, or care, that they are hoarding equity to come. If you have a decent job and can buy your first house....get on with it. I wish I was in a position to buy....course.....I'm one of those that bought at the hight of the market. Sigh.

JD Power & Associates ranks Prudential Real Estate Network #1 in Customer Satisfaction (Seller) for the 2nd time in 3 years. Not bad for our lil globally recognized company, huh?!

Our association meeting was pretty informative this morning. Year over year, residential sales are up in La Plata County 39% from 2009. Of course, most of that volume happened prior to the end of the tax credit. July and August appear to be relatively flat, similar to last year. Still, 50-year lows on interest rates are very attractive as a one-point (%) reduction in interest rates translates to approximately a 10% price reduction. Our Board President rightly pointed out that in 10 years we'll be bragging about the interest rate we got rather than the price we paid on the house. True that! Great day folks!

Our association meeting was pretty informative this morning. Year over year, residential sales are up in La Plata County 39% from 2009. Of course, most of that volume happened prior to the end of the tax credit. July and August appear to be relatively flat, similar to last year. Still, 50-year lows on interest rates are very attractive as a one-point (%) reduction in interest rates translates to approximately a 10% price reduction. Our Board President rightly pointed out that in 10 years we'll be bragging about the interest rate we got rather than the price we paid on the house. True that! Great day folks!

It's Good News, Bad News again...Homebuilder confidence is low but with little new housing being built, eventually inventory will drop once the RE0 market stabilizes. In this scenario, there is worry that prices will start inflating again but for now its serving to keep existing home prices from falling too far.

Its good news, bad news: while the last 2 weeks stock gain were erased
today there was good news too....of the Top 25 places where jobs were
created helping to create a positive regional economy, many were in our
region and feeder markets. A couple in Colorado, a couple in Arizona, a
few in Utah and several in Texas.





http://ping.fm/WxtMP