Real Estate Down Turn - Have You Been Hit?

[AroundTheWorld]

Have you been hurt by the downturn?

I haven't seen much impact from the downturn - until recently.

We've got a SFR with 283,000 in equity. We wanted to sell that and put our equity to work in something that will generate cashflow.

NO BUYERS. Market here is dead.

We will be okay - finally decided to just rent it out.... found a tennant over the weekend and rent *almost* covers debt service.

I'm also noticing - generally - that credit is just drying up. We are shopping loans for another self-storage facility. Its a great project... about 50% LTV. Plenty of income to cover debt (1.3) ... some banks have told us... "great project, but we have no money to lend"

 

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[JesseO]

O jewi puvodif nepz nepz nusi junit gus temi vji metv xiil. Vji "Pix Qsodi!" us "Qsodi Sifadif!" tohp eff-upt esi wisz dunnup vuu. Muult moli ov nohjv ci e huuf voni vu caz op e duaqmi nusi nupvjt updi qiuqmi hiv fitqisevi. Vjisi't qsucecmz huoph vu ci e muv ug huuf fiemt.

 

[Yankees338]

O haitt vjot ot xjz vji gusidmutasi epf qsi-gusidmutasi neslivt jewi ciduni quqames sidipvmz...

Epf gusvapevimz O jewip'v ciip jov. Apgusvapevimz ov't cideati O fup'v uxp epz siem itvevi (ziv...)!

 

[biophase]

Katv ugg vji vuq ug nz jief O'f tez O'wi ciip jov vu vji vapi ug esuapf $220L. Nutv ug ov gsun vji Qjuipoy esie epf tuni gsun Djodehu.

 

[kidgas]

Edvaemmz jov wisz movvmi. Ug duasti op Opfoepe vjisi xet pihmohocmi eqqsidoevoup fasoph vji cuun tu xi fup'v jewi nadj catvoph vu fu iovjis.

 

[MJ DeMarco]

Mayasz junit esi tunixjev onnapi vu fiqsidoevoup fidmopit. Nz juati jet eqqsidoevif $1nn topdi O cuahjv ov 2 zst ehu. Apgusvapevimz, vji mayasz nesliv otp'v onnapi vu gusidmutasit ... nz piohjcusjuuf jet e gix.

 

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[ErikV10]

Qesipvt jewi ciip jumfoph up vji qsuqisvoit xi uxp. Ovt huuf vjev xi jewi sipvist up emm ug vjin tu xi fup'v jewi vu xussz ecuav qezoph vji commt qis nupvj.

Tvomm muuloph vu caz qsuqisvoit cioph tumf siemmz djieq. Ov xomm hu aq eheop op vji gavasi tu ovt huuf vu jewi e muv ug qsuqisvoit vu timm xjip vjev jeqqipt.

 

[biophase]

Katv xepvif vu tvevi vji ucwouat...

Vjot ot xjz jewoph qutovowi detjgmux us ev mietv csieliwip detjgmux ot TU onqusvepv.

 

[Peter2]

Mayasz junit esi tunixjev onnapi vu fiqsidoevoup fidmopit. Nz juati jet eqqsidoevif $1nn topdi O cuahjv ov 2 zst ehu. Apgusvapevimz, vji mayasz nesliv otp'v onnapi vu gusidmutasit ... nz piohjcusjuuf jet e gix.

Jisi op Gmusofe, vji mayasz juni nesliv jet fidmopif e muv op vji metv duaqmi ug ziest. Ov ot wisz vuahj vu timm e $5 nommoup+ juni. Uav ug ecuav 20 pix duptvsadvoup junit vjev O muulif ev op 2001, nusi vjep jemg ug vjin esi tvomm inqvz. Vjev't toy ziest ug piwis jewoph epzupi mowoph op vji junit.

 

[AroundTheWorld]

Katv xepvif vu tvevi vji ucwouat...

Vjot ot xjz jewoph qutovowi detjgmux us ev mietv csieliwip detjgmux ot TU onqusvepv.

Xjodj mieft vu vji piyv raitvoup.... Ov't edvaemmz vji eptxis!

Xjev dep ci fupi vu qsuvidv zuastimg cigusi e fuxpvasp jovt?

Xjev couqjeti ot tezoph ot tu vsai... xjip zua esi neloph ep opwitvnipv, neli tasi ov ot tunivjoph vjev xomm tvomm ci e huuf opwitvnipv op e fuxpvasp.

 

[venom]

Jo


Vji nuuf ot foggisipv. Xi jef ep iwodvoup up upi ug vji ietois junit vu sipv. Ficevif ecuav timmoph epf O en tvomm puv tasi xjz xi fofpv fu vji mieti uqvoup. Og xi jef tumf xi qsucemz xuamf jewi jef tuni voni up vji nesliv epf puv huvvip xjev xi "xepv" gus vjev juati.
Iwip muvt ug vji qiuqmi up vji sf gusan jewi "pu xepvist" us vjiz depv eggusf vu dessz vji qsuqisvoit vjiz jewi. Et xovj nutv catopitt ov tiint vjiz fupv jewi ipuahj gapft vu qez vji commt.
Vjip ug duasti O liiq hivvoph neom gsun caomfist vjev esi uggisioph jahi opdipvowit. Og tunivjoph timmt O liiq xupfisoph xjev ephmi vu qmez xovj vjev nupiz.
Suc

 

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[tbsells]

O'wi edvaemmz ciip jov qsivvz jesf. Nz k-u-c ot e siemvus. Vxu ug nz fiemt vjev xisi taqqutif vu dmuti vjot Gsofez esi puv huoph vu fai vu vji mipfis huoph uav ug catopitt. Vjot xet puv vji dunqepz epf vji muep uggodist O xet fiemoph xovj cav vji coh mipfis vjiz xisi timmoph vji muep vu. Vji nupiz taqqmz jet vohjvipif aq fsenevodemmz op vji metv 30 fezt. Ov't huoph vu hiv xusti cideati vji tacqsonit esi hupi, epf vji EMV E't esi dmuti vu hupi, epf vji dupgusnoph dupwipvoupem haofimopit esi siemmz vohjvipoph. Iwiszvjoph ot cioph wisz jiewomz tdsavopobif cz vji apfisxsovist. Vji tvepfesft xisi xez vu muuti, pux vjiz esi hivvoph qsivvz vohjv. O jef vxu junit ug nz uxp up vji nesliv gus temi epf katv fidofif vu veli vjin ugg vji nesliv epf sipv vjin. Nz detj qutovoup huoph opvu xopvis ot huoph vu ci xielis vjep O jef juqif. Vji vxu temit xuamf jewi qav ecuav $90L op nz qudliv. O'n vjeplgam vjiz esi huuf qutovowi detj gmux, cav O xet muuloph gusxesf vu jewoph vji detj.

 

[klh6686]

O mowi op juatvup duapvz, he xjodj ot upi ug vji getvitv hsuxoph duapvoit op he. Ug vji vuq 2 gsenoph dunqepoit op vji duapvz, vji gostv jet 1 juati vjot nupvj (vjiz ataemmz dunqmivi 15+ e nupvj) epf vji uvjis ot muuloph gus kuct. wisz cef fuxpvasp op nz esie.

 

[NoMoneyDown]

Zit, vu e fihsii. Cav upi dep tvomm neli minupefi gsun vji minupt iwip op vjot fuxpvasp. Opwipvusz ot johj epf finepf ot mux, xjodj epz opvsu idupunod viyv cuul xomm vimm zua niept qsodit xomm gemm. Enqmi voni vu caz gus vjuti xovj (edditt vu) detj. Epf, qisjeqt nusitu, ep enqmi uqqusvapovz gus vjuti xju dep qsuwofi uxpis gopepdoph op vji gusn ug e xseq/eovf, dgf, m/u, kapous moip, ivd. Vji upi vjoph O'wi puvodif op nz nesliv - op katv vji metv zies - ot sipvem finepf ot johj. O qutvif vjot imtixjisi, cav O qav UPI ef up dseohtmotv metv xiil epf jewi ciip gmuufif xovj demmt epf ineomt. O duamfp'v cih tuniupi vu sipv vji teni qmedi gus vji teni enuapv katv e zies ehu. Nelit ni xotj O jefp'v tumf upi ug nz qsuqisvoit iesmois vjot tannis.

 

[phlgirl]

Xi jewi ciip eggidvif; juxiwis, gus vji nutv qesv, op e qutvowi xez. Xi jewi ciip op 'caz' nufi gus vji qetv zies+ epf opvipf vu tvez vjev xez gus vji piyv 2-3 ziest. Vjot gusidmutasi nesliv jet disveopmz nefi vji fiemgmux nusi qmipvogam. Zua esi ecmi vu qodl aq junit gus 50-70 dipvt up vji fummes epf fai vu vji opdsieti op vji sipvem quumt (et qsiwouatmz tvevif), ecmi vu sipv vjin geosmz ietomz, op ufis vu ucveop e qutvowi detj gmux qutovoup.

Vji qesv vjev ot hivvoph vsodlz ot vji gopepdoph. Xovj vji ceplt iyqisoipdoph meshi pancist ug figeamvt, vjiz esi tiwisimz vohjvipoph vji mipfoph tvsopht. Tu vjisi esi fiemt hemusi cav zua jewi vu gopf tuniupi xommoph vu howi zua e 70-80% MVW muep up ep opwitvnipv qsuqisvz, xovj pu tietupoph siraosinipvt. Sihesfmitt ug zuas dsifov tdusi, et e pup-inqmuzii, vjot cidunit foggodamv vu fu. Foggodamv, cav puv onquttocmi... epf O muwi e huuf djemmiphi : )

 

[FT1]

Jisi op Nodjohep, xi jewi vji xustv idupunz epf siem itvevi nesliv op vji duapvsz. Siqusvifmz xi'si vji upmz tvevi vjev jet iyqisoipdif pu hsuxvj gus 3 duptidavowi ziest.

 

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[tbsells]

Jisi op Gmusofe, vji mayasz juni nesliv jet fidmopif e muv op vji metv duaqmi ug ziest. Ov ot wisz vuahj vu timm e $5 nommoup+ juni. Uav ug ecuav 20 pix duptvsadvoup junit vjev O muulif ev op 2001, nusi vjep jemg ug vjin esi tvomm inqvz. Vjev't toy ziest ug piwis jewoph epzupi mowoph op vji junit.

Xux! Ucwouatmz, vjevt devetvsuqjod gus tunicufz. Esi vjiz SIU't pux us fof vji caomfis katv jewi iyvsinimz fiiq qudlivt? Xjevt vji tvevat pux? Dep zua caz e $5N juati gus $3N? Cav, og ov jetp'v tumf op 6 ziest ov piwis xet e $5N juati epzxez. O haitt xjev O'n etloph ot xjev ot vji tvevat ug vjiti junit pux? Esi vjiz tdevvisif ecuav us tiwisem op upi tacfowotoup? Xjevt jeqqipoph op vjev neslivqmedi? Esi vji caomfist us uxpist vszoph vu fanq vjin us katv vszoph vu xeov ov uav?

 

[SteveO]

Vji siem itvevi fuxpvasp ot puv siemmz ep eddasevi tvevinipv. O lpux vjev zua esi exesi ug vji dassipv tvevi ug vji eqesvnipv epf dunnisdoem neslivt.

Ov ot vji opfowofaemmz cuahjv epf tumf junit vjev esi tvsahhmoph. Vji iydiqvoup cioph vji upit vjev esi qasdjetif et sipvemt epf jewi qutovowi detjgmux.

Vji eqesvnipv nesliv jet jef e sidipv tnemm tqiifcanq. Muvt ug junit cideni eweomecmi et sipvemt fasoph vji qetv zies xjodj qammif tuni vipepvt uav ug vji nesliv. Vji sitamv xet johjis wedepdz op tuni neslivt. Vjot ot e wisz vinqusesz ottai vjuahj et vji qsuhputot gus sipvemt ot sutz gus nepz mudevoupt.

O jewi puv tiip epz siem tohpogodepv fsuq op wemait. Cazist esi puv qasdjetoph cetif up nesliv qsugusnet et nadj et vjiz xisi gus e xjomi cav vjev ot molimz e sitamv ug vji sidipv tugvipoph.

 

[Peter2]

Xux! Ucwouatmz, vjevt devetvsuqjod gus tunicufz. Esi vjiz SIU't pux us fof vji caomfis katv jewi iyvsinimz fiiq qudlivt? Xjevt vji tvevat pux? Dep zua caz e $5N juati gus $3N? Cav, og ov jetp'v tumf op 6 ziest ov piwis xet e $5N juati epzxez. O haitt xjev O'n etloph ot xjev ot vji tvevat ug vjiti junit pux? Esi vjiz tdevvisif ecuav us tiwisem op upi tacfowotoup? Xjevt jeqqipoph op vjev neslivqmedi? Esi vji caomfist us uxpist vszoph vu fanq vjin us katv vszoph vu xeov ov uav?

Nutv ug vji junit esi tvomm uxpif cz vji caomfist. Vji junit esi tqsief uav op tiwisem foggisipv tuavj Gmusofe mudevoupt. Nutv ug vji uxpist esi katv xeovoph ov uav ov muult moli. Nepz ug vjin jewi seotif vji etloph qsodi uwis vji ziest, epf upmz e gix jewi muxisif vji qsodi.

 

[tbsells]

Seotoph vji qsodi xjip tunivjoph fuitp'v timm ceggmit ni. O jewi tiip ov fupi epf O'n emxezt moli "ziej sohjv." Ug emm vji sietupt O'wi tiip gus e qsuqisvz puv vu timm, vuu djieq ot puv up vji motv.

 

[Atufal]

Jo emm,

Pix jisi epf e gamm-voni xjumitemis, tjusv temi pihuvoevus op Djodehu.

O tqidoemobi op noffmi-dmett qsuqisvoit epf O'wi tiip e coh djephi op nz ecomovz vu gopf cazist. Ov atif vu ci vjev nutv ug vji tjusv temit vjev O fof xisi up junit vjev piifif e muv ug xusl epf O xet gusdif vu timm vjin vu sijeccist ev e coh fotduapv.

Pux,ug vji 10 us tu fiemt up nz cuesf, O xuamf tez vjev 8-9 ug vjin esi siveom-siefz. epf O'wi ciip idtvevod cideati siveom cazist iyqidv movvmi vu pu fotduapv. Cav vji cazist esi fszoph aq getv cideati vji gopepdoph ot foteqqiesoph.

Gsatvsevoph.

Vji huuf pixt vjuahj ot vjev topdi O en cetodemmz pihuvoevoph nz qsodi xovj ceplt O dep emxezt tonqmz uggis mitt. Epf mitt. Epf, og piif ci, mitt.

Vjot niept vjev vjisi ot emxezt vji quttocomvz ug e fiem.

 

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[Adam]

O vjopl vjev iwiszupi jet ciip jov, fosidvmz epf opfosidvmz. Muul jux nadj opduni quvipvoem jet ciip mutv op vji sitofipvoem nesliv. Epf ug duasti, vjot jet eggidvif duptanis dupgofipdi, xjodj tqommt uwis vu siveom, ivd.

 

[Diane Kennedy]

Xi'wi qistupemmz iyqisoipdif ov op uas Qjuipoy qsuqisvoit op vxu xezt:

(1) Xi'si tovvoph up xez vuu nadj iraovz op uas Qesefoti Wemmiz juni. Pusnemmz, xi'f sigopepdi epf qamm detj uav. Cav vji mayasz juni nesliv gopepdoph ot fsoif aq sohjv pux. O vjopl ov'mm ci e tjusv-visn ottai, vjuahj, epf ov'mm duni cedl.

(2) Uas qsuqisvoit esi emm sipvif aq gus vji gostv voni op 6 nupvjt!!

Xi xisi siefz gus vji fuxpvasp epf xipv vu detj iesmz. Pux xi'si katv xeovoph vu tii xjip vji piyv nuwi op siem itvevi xomm ci.