Posted by matx on February 05, 2010 at 11:04:02:
In Reply to: Re: 14-unit Apt in Phoenix posted by james (CA) on February 05, 2010 at 00:30:14:
I'm in Dallas (moved here from SoCal for the RE). The SFH rental market here is solid and our tenants aren't moving because of the uncertainty in economy.
There are plenty of REOs, but the REO market is super competitive w/ out-of-state investors (some from CA) and first-time buyers. People are bidding above the listing price, just like during the bubble. (There were better deals early last year w/ less competition)
I hear the same thing happeneing in Houston, Sacramento, OH, etc.
There're great deals in Inland Empire now (where I used to have rentals) and experienced investors are buying a lot of REOs, but it sounds very competitive.
Many CA investors bought apts (and SFHs) in Dallas, Austin, San Antonio and Houston to pool the money/equity from CA during the bubble. They overpaid just like those in Phoenix, and can't get out or are walking away.
- Re: Observation Richard 10:38:12 02/18/10 (0)