http://www.housingtracker.net/ Some Examples http://www.housingtracker.net/reo/illinois/chicago http://www.housingtracker.net/askin...o-Naperville-Joliet/Chicago-Naperville-Joliet That REO resource is great though! You can find 20 to 30 properties that are of great value and super lowball it. Banks are writing off billions thanks to sub-prime. So why not have their loss be your gain. Countrywide REO (foreclosed property owned) in Chicago 11/23/2007 352 11/16/2007 345 11/09/2007 337 11/02/2007 330 10/26/2007 306 10/19/2007 276 10/12/2007 259 10/05/2007 239 09/28/2007 243 09/21/2007 240 That's an alarming trend. Fed will be forced to cut rates! Date / Government (HUD/VA) / Freddie Mac / Fannie Mae 11/23/2007 216 98 159 11/16/2007 207 98 159 11/09/2007 195 96 162 11/02/2007 216 92 156 10/26/2007 171 92 135 10/19/2007 162 89 153 10/12/2007 159 88 148 10/05/2007 159 87 149 09/28/2007 162 77 146 09/21/2007 152 75 141 Bumahahahhhahaahahaha! Freddie and Fannie are fucked! HUD/VA has unlimited amount of money though. If there was ever a way to pick up cheap housing it would be to offer 50% of what HUD/VA is asking. They're government and not-profit oriented so they will accept any offer, unreasonable or not. Fuck Black Friday, This RE crash is gonna have the best bargains since the Great Depression!
It's too bad ET took out the Caps in my thread title, because this is one which truly deserves it. <CENTER> ¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡ THE GREATEST SITE EVER TO WATCH THE HOUSING BUBBLE GO POP!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!</CENTER>
The best part is you don't even have to get up at 5am !!! I sold my rentals about three years ago thinking I would be able to buy them back at a lower price. While that doesn't appear to be totally the case and perhaps holding one more year would have been better the concept is the same. I for one will be STARTING to be in the market to buy rentals again in late summer 2008 with the thought that "everyone" will be telling me I am crazy to buy houses when they will continue to fall. I think 2009 and 2010 will be a very good time to buy rentals unless something changes from now till then. I do not think we have seen the 'crash' yet. ( of course I am not on one of the coasts either)
Do those homes you rent come with the cows or without? And what about the farm animals? Do they come with or without?
My brother-in-law just sent me this about the WSJ: "I just read in this weekend edition of the Wall Street Journal about, "Next year, interest rates are set to rise-or "reset"-on $362 Billion worth of adjustable-rate subprime mortgages. Now the real crest of the reset wave is coming, and that promises more pain for borrowers, lenders and Wall Street."" Don't know any more than this little blurb, but if this is true it's going to just get uglier...
In wisconsin here its always best to give the tenant the option. For example a good ad that it sure to find a renter quick would read. Single family home 3 Bedroom, two bath, garage, and 'Ol Betsy (negotiable) $600 /mth plus utilities and 4 hey bails.
I saw the stories on CNN about the collapsing market in Miami, ouch. Some ppl. bought at the crest and 4 months later lost a minimum of 100k on their investment.
I am following the Case Shiller composite real estate index futures prices here: http://futuresource.quote.com/charts/charts.jsp?s=CUS G8&o=&a=D&z=610x300&d=medium&b=bar&st=
<i>"Single family home 3 Bedroom, two bath, garage, and 'Ol Betsy (negotiable) $600 /mth plus utilities and 4 hey bails."</i> The newspaper made a typo. They meant to print, <i>hay bales</i> At $4 per bale of alfalfa and $3 for grassy hay in these parts (due to drought and more acreage in corn = ethanol production) that offer would be attractive to horse owners, for sure.