Carol Rodoni, highly regarded speaker, author and analyst of the Bay Area real estate market spoke at McGuire and these are just a few thoughts that I want to share with you from Carol:
Within the foreclosure market, banks are holding onto these properties and releasing them slowly for two reasons – 1. To not flood the market and, 2. To control the market.
Numerous hedge funds are being created to buy distress properties. (Your competition is not only the single investor with cash but the “group” investors who have joined together to buy.)
Interest rates will begin to increase by the middle/end of 2010 they will increase to 7%-9%. Inflation will occur.
If you can buy real estate now and own it while the market stabilizes itself , you will make money off of your investment. (as I have said , hold onto it for at least 5 years)
Buyers in our market are reading about other markets and think that it pertains to our market – not true… get the facts and stop believing everything you read.
With that mentioned, I can email you any stats you want about what is selling and for how much in a particular market/zip code. Just let me know and I can send you an email. Be prepared, be educated, and be realistic in this market and you will succeed!
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