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Any action on the selling side? Has anyone gotten anything under contract since the markets melted down?
I listed one last Monday..and its been slooooow. Couple of showings, thats it. I went to a forclosure auction on Saturday and was the only one there. The attorney said other than a few calls no interest. My insurance agent said he is dead, only people calling in looking for better deals. My boat broker friend said its dead, my real estate agent friends are hopefull as always, but have a lot of time on there hands.
Lots of deals out there to buy, but if I can't sell anything to free up cash to buy them they don't really do me any good. I don't really want to pursue them with borrowed money because I don't have confidence in being able to sell them fast enough. Unless you are flush with cash and can afford to sit, this currant market seems to suck, frankly. Heck even my uncle who is flush with cash and in the last two months has spent well into the seven figure range buying properties is getting to the point where he needs to sell stuff to free up cash.
My gut is telling me whatever we are sitting on now will be ours until after the holiday's or spring. With car sales down 40% I don't see people buying houses unless they have to. I hope I'm wrong but thats my read on the market.
I listed one last Monday..and its been slooooow. Couple of showings, thats it. I went to a forclosure auction on Saturday and was the only one there. The attorney said other than a few calls no interest. My insurance agent said he is dead, only people calling in looking for better deals. My boat broker friend said its dead, my real estate agent friends are hopefull as always, but have a lot of time on there hands.
Lots of deals out there to buy, but if I can't sell anything to free up cash to buy them they don't really do me any good. I don't really want to pursue them with borrowed money because I don't have confidence in being able to sell them fast enough. Unless you are flush with cash and can afford to sit, this currant market seems to suck, frankly. Heck even my uncle who is flush with cash and in the last two months has spent well into the seven figure range buying properties is getting to the point where he needs to sell stuff to free up cash.
My gut is telling me whatever we are sitting on now will be ours until after the holiday's or spring. With car sales down 40% I don't see people buying houses unless they have to. I hope I'm wrong but thats my read on the market.
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