REAL ESTATE Where's the demand???

[8 SNAKE]

Obviously this is a regionally biased question, but for the sake of interesting conversation I'd like to see what people's thoughts are.

Where do you see the most demand for housing in the next 6-24 months? By that, I mean what type and size of housing.

Around here, I expect the demand to be for smaller homes for entry-level buyers and people that are downsizing. By smaller, I mean 1,800 - 2,200 sq ft with a 2-car garage. This size is also versatile enough to appeal to both buyers and renters. That's the market that I'm putting my focus on. How about you?

 

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[Runum]

Currently, around DFW, we are having a large influx of gas drilling workers due to the Barnett Shale discovery. I rent several of my units to those workers. Some want houses, some want apartments. This is supposed to last about 10 more years.

 

[hakrjak]

Here in Colorado Springs our nightly news just reported that we sold 1000 more homes than were built this last year. Demand is going to keep increasing and increasing as the Iraq war ends, and more and more troops return home to Ft. Carson. There are also thousands of troops xfer'ing in from other bases around the country. We're talking about pumping another 10-20,000 or so families into our small community over the next 1-2 years.

Cheers,

- Hakrjak

 

[8 SNAKE]

hakrjak,

What kinds of houses are most in demand in your area? Starter homes, mcmansions, retirement homes, etc?

 

[tbsells]

Here in Colorado Springs our nightly news just reported that we sold 1000 more homes than were built this last year. Demand is going to keep increasing and increasing as the Iraq war ends, and more and more troops return home to Ft. Carson. There are also thousands of troops xfer'ing in from other bases around the country. We're talking about pumping another 10-20,000 or so families into our small community over the next 1-2 years.

Cheers,

- Hakrjak

Hak,
With 30 year fixed rates below 6% and the above demographics I sure hope you are BUYING! Sounds like Colorado Springs is the place to be.:banana: and :cheers:

The best thing we can hope for in Cincy is that the Bengals or the Reds break .500 next year.

 

[bigmako]

Here in So. CA, the demands of course, are for more affordable housing.
Not too many people can afford the price tag of a home nowadays.
With that said, there has reportedly been major construction of apartment bldgs. all over So. CA.

Is this the new "future?"

 

[hakrjak]

That is correct. I am a buyer at these prices (Lots of foreclosures), and at these interest rates.

My main problem is that I've got most of my equity (Maybe $120k) locked up in 2-3 properties... So I'm going to have to flip those first, and then with the proceeds I am either enterring commercial real estate, or if I can't find the right deal there -- I'll buy a boatload of residential again and repeat the process I've just gone through.

The most in demand properties in my area are 2-3 bedroom homes in the $100-150k range. As you go over $200k the demand seems to fall off a bit.

Cheers,

- Hakrjak