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Archive for 'Foreclosures / Short Sales'
Why Savvy Real Estate Investors Are Now Licking Their Chops…Especially In Places Like Antioch, Fairfield and Vallejo
September 5th, 2008 categories: Buying, Contra Costa, Foreclosures / Short Sales, Investors, Market Update, Solano, Vallejo
Four or five years ago, when prices were skyrocketing month after month, buyers often lamented about being in the wrong place at the wrong time.
These Antioch homes are all more than 2,200 sq. ft. and below $300,000
I’d pull up a property’s history and when they saw that the home they were about to pay $600,000 for had been purchased a dozen years earlier for $210,000, they’d say “if I’d only bought several homes back then when I had the chance.”
The ‘good ‘ol days, were long gone, with prices outpacing rents by such a long shot that any savvy real estate investor didn’t even have to crunch the numbers. Unless they were in it for a quick flip, they knew that the numbers didn’t come close to penciling out when a $550,000 home would only rent for $1,500/month. Read the rest of this entry »
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