Client Full Report with Photo/Map
L A County Bank Owned Bargain Properties
More info at my Apartment Building Investment Blog – or RSS Feed
Tom Waite
THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com
HERE ARE 9 BANK OWNED FOURPLEXES IN ORANGE COUNTY CALIFORNIA. These properties MUST be sold quickly. Priced from:
$234,000 in Westminster CA to $1,450,000 in Laguna Beach CA
Client Full Report with Photo/Map
REO 4 PLEXES IN ORANGE COUNTY MARCH 9, 2011
Please subscribe to my A R Blog: Tom’s AR Blog or or get my RSS feed: Tom’s AR RSS Feed
More info at my Apartment Building Investment Blog – or RSS Feed
Tom Waite
THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com
Please subscribe to my Active Rain Blog: Tom’s AR Blog or or get my RSS feed: Tom’s AR RSS Feed
More info at my Apartment Building Investment Blog – or RSS Feed
Tom Waite
THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com
DURING 2010 THE TOTAL OF UNDERWATER HOMES IN THE U. S. WENT FROM 21% IN THE FIRST QTR TO 23% IN THE THIRD QTR TO 28% IN THE FINAL QUARTER. That represents a move toward 30% and on to 40% of the homes which have mortgages.
This is bleak news for homeowners but positive for the owners of Apartment Building Investment properties, especially in nice areas with great schools and services.
There is an additional issue with the Under Water Homes…when the owners sell or short sell or deal with a foreclosure…they will have no equity and probably no cash in the bank. They will be renters, some for life and some for 2 years to 10 years while their credit heals and they accumulate a down-payment. One must have 10% equity to break even upon sale and pay costs…that’s why I predict we’ll be at 35% before long.
AND WHEN FANNY AND FREDDY DIE…OVER THE NEXT 10 YEARS…THERE MAY NOT BE ANY 30 YEAR MORTGAGES WITH EXTREMELY LOW DOWN PAYMENTS!
Some folks will make a pledge to “Never Own a Damn Home Again”, some will buy as quickly as they can.
Interest rates Must Necessarily Skyrocket (to grab a quote from our Pres). For the first 20 years of my real estate career, interest rates did not drop below 8.5%. I’m gonna’ guess that we’re heading that way interest rate wise in the not too distant future. Some “pundits” say several years…some say several months.
MY LAST BLOG WAS THAT THE REAL ESTATE BUSINESS IS IN ELVIS PRESLEY MODE: IT’S NOW OR NEVER!
My advice is that if you want to catch the next up wave…you should own Apartment Buildings. Preferably 2 to 4 unit buildings if you have mor limited funds. 16 or more unit buildings if you have some retirement funds to place (5 to 15 units are a bear to finance and make productive…PRICE is the secret to them).
IT’S NOW OR NEVER…GET TO IT!
Please subscribe to my A R Blog: Tom’s AR Blog or or get my RSS feed: Tom’s AR RSS Feed
More info at my Apartment Building Investment Blog – or RSS Feed
Tom Waite
THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com
FORECLOSRE MORATORIUM AT HSBC – MORE SHORT SALES AHEAD! BUY APARTMENT BUILDING INVESTMENTSHSBC (England Based Lender) DOCUMENTS from Tuesday show that they have placed ALL Foreclosures in the USA…until irregularities in their foreclosure documents and programs can be corrected. This might be a 30 day hold or a 60 day hold.During that period, more and more HSBC Foreclosures will necessarily back up in the Phantom Inventory Tsunami. These foreclosures will not be “dismissed” and when they come back online…Katey Bar The Door. IT COULD JUST TURN OUT THAT PLACING FORECLOSURES ON HOLD…IS A STRATEGY TO PREVENT THEIR NEW FORECLOSURES FROM “BIDDING DOWN or AGAINST” THE ONES THEY CURRENTLY HAVE ON THE MARKET! N.A.R. just announced that December 2010, January and February 2011 were all down months in Sales and Prices. NOW IS THE TIME TO BUY APARTMENT BUILDING INVESTMENTS! The more folks who lose their homes to foreclosure…the larger the pool of Committed, Lifelong RENTERS there will be. Many people who lost their homes in the early 80s, and/or the early 90s (about 40% to 50% of those who lose their homes during this Recession) will never have the courage or determination to buy a home, again. THEY WILL NEED SOMEWHERE TO LIVE…APARTMENT BUILDINGS…BUY THEM NOW BEFORE THE PRICES MOVE UP DUE TO “INCREASES IN INCOME” AS THE UNITS IN NICER AREAS AND NICER BUILDINGS ARE BID UP…WHEN VACANCY RATES BEGIN TO DECREASE LATER IN 2011 AND INTO 2012! BUY APARTMENT BUILDINGS!!! CALL ME! Please subscribe to my A R Blog: Tom’s AR Blog or or get my RSS feed: Tom’s AR RSS Feed More info at my Apartment Building Investment Blog – or RSS Feed Tom Waite THOMAS WAITE REAL ESTATE BROKER PO BOX 3205, CYPRESS, CA 90630 714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com |
He expects unemployment to be at least 8% through 2013 maybe longer.
LET ME SEE…WHAT CAN PEOPLE WITH NO JOBS…NOT DO?
ANSWER: BUY REAL ESTATE, BUY NEW CARS, SHOP AT THE MALLS, ETC, ETC.
They WILL rent apartments in droves.
Oh, and did you miss the part about Inflation for Food, Energy (Gas, Oil, Electricity) and Rent?
Looks like more:
FORECLOSURES
SHORT SALES
REOs
But remember…I didn’t tell you so…Okay, Okay…I TOLD YOU SO!!!
Please subscribe to my A R Blog: Tom’s AR Blog or or get my RSS feed: Tom’s AR RSS Feed
Tom Waite
THOMAS WAITE REAL ESTATE BROKER
PO BOX 3205, CYPRESS, CA 90630
714-895-2174 Direct; 714-398-8292 Fax Tom@TomWaite.com
THE LAST TIME (1978-1982) INFLATION LED THE WAY!The last time our Government tried to ‘MONITIZE’ the National Debt was when Jimmy C got the Ugly Stick from, Gerald Ford who got it from, Richard Nixon (who TRIED price controls – did not work out well) who got it from LBJ…as a result of the GREAT SOCIETY!!!SEE HOW OLD I AM? The financial blogs this week are speculating on two things. 1) HUGE! Price inflation of Commodities such as Oil, Food and Energy (not counted in the CPI) (I’m not making that up…the CPI does’t count the stuff that inflates in the “inflation rate” since doing that KILLED Carter’s presidency – well, that and the handling of the Hostages, Gas Crisis, Energy problems…not enough space for this discussion here…). 2) The Municipal Bond Market crashing due to that TERRIBLE Meridith Whitney…who exposed the Emperor with Nudie habits…like SPENDING WAY TOO MUCH LIKE A DRUNKEN SAILOR WITH HIS BUDDY’S WALLET! (I apologize to all of the Drunken Sailors who read my blog…I didn’t mean anything by it…honest) There have been NO fixed interest rate loans for Apartment Buildings or Commercial since 2008…so they’re already Scre&#d when the rates rise. Look for more defaults in apartment properties which are on the verge due to unemployment. Anyway! Get ready for the House Interest Rates to Head NORTH! |
