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Investing & Financing: Whats the market like in your area?

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      CommentAuthorEric
    • CommentTimeAug 2nd 2005 edited
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    I know that Florida is going nuts - basically anything on a coast is. Spokane is pretty dormant, only showing 10-25% gains yearly.

    I'm curious to know what other markets are strong right now. I'm thinking of investing in some beach property on the Oregon Coast.

    Proud founder of YGG
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      CommentAuthorbonafizzle8
    • CommentTimeAug 2nd 2005 edited
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    things are pretty good here in so. new england... my folks have been dumping properties left and right for huge gains and put the money in an account that they can take out once the market crashes and buy property with it. They're planning on owning double the properties for what they are getting rid of now...

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      CommentAuthorEric
    • CommentTimeAug 2nd 2005 edited
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    That is so smart - congratulations to them ::cheers::

    Proud founder of YGG
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      CommentAuthorJustin
    • CommentTimeAug 2nd 2005 edited
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    same up here in winnipeg. They just satrted 3 new devlopments of over 80 houses each in my area. I have been really looking for properties to buy and rent and there is alot around, hopefully will find some good deals soon!

    I wonder if and when the market will take a downturn?

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    • CommentAuthorjpomerenke
    • CommentTimeAug 2nd 2005 edited
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    Ive been looking at condos and houses in the Virgin Islands. The prices are not horrible at all for being and island.

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      CommentAuthorEric
    • CommentTimeAug 2nd 2005 edited
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    I don't know - it's hard to tell with real estate. I definately think it's going to slow down a bit in the near future, but I don't think properties are going to depreciate in value (not in most areas, at least).

    Proud founder of YGG
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      CommentAuthorJustin
    • CommentTimeAug 2nd 2005 edited
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    i agree, there will always be money to be made in real estate for sure.

    I am excited to get my hands dirty in real estate!

    Impacto Blog - Fresh Opinions
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      CommentAuthorTomS
    • CommentTimeAug 2nd 2005 edited
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    My parents are heavily into realestate, and even though the market has slowed a lot in Australia, there is still money to be made.

    My parents are helping me get started, by helping me build my first house, its small, on a small block, but will instantly be worth more once it is finished, compared to how much it cost.

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      CommentAuthorKaren
    • CommentTimeAug 2nd 2005 edited
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    Everything is still rising around here and not alot of sign of it slowing down.

    Houses are roughly $200,000 more than what they were 2 years ago.

    I feel for the people who have bought in the last 24 months at the really low interest rates. When it is time to renew their mortgages, no one will be able to afford it.

    It's a crazy market.

    Karen

    "It's the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen."
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      CommentAuthorEric
    • CommentTimeAug 2nd 2005 edited
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    It is a crazy market, it's scary.

    $200K more...god...that's just terrifying. People are going to get seriously hurt if they don't watch their step.

    Proud founder of YGG
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      CommentAuthorbonafizzle8
    • CommentTimeAug 2nd 2005 edited
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    that is also a blessing in diguise if you think about it... too many people taking a plunge with no idea what they're getting into = plentiful cheap foreclosed properties...

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      CommentAuthorEric
    • CommentTimeAug 2nd 2005 edited
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    Yeah, that's true...but they're just trying to make a buck like everyone else, and I never wish financial harm to like minded individuals, only phsyical harm. j/k :lol:

    Proud founder of YGG
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      CommentAuthorbonafizzle8
    • CommentTimeAug 2nd 2005 edited
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    haha, i agree with you, but only to a point... the main ingredient to being successful in real estate is you have to be a shark... if someone's slipped up, you should have no problem making a buck off their mistake :twisted:

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      CommentAuthorKaren
    • CommentTimeAug 2nd 2005 edited
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    [quote="bonafizzle8"]plentiful cheap foreclosed properties...[/quote]

    Yep, and the investors are sitting back rubbing their hands together.

    There will be many great deals to be had at that time.

    Karen

    "It's the repetition of affirmations that leads to belief. And once that belief becomes a deep conviction, things begin to happen."
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      CommentAuthor3-D WHEELS
    • CommentTimeAug 15th 2005 edited
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    The market here in Houston is still growing.
    Houston is like L.A. It's surrounded by all these smaller suburbs which alow for very big opportunities; As well as down town where they are building two and three story condos everywhere.
    And, the prices here are alot cheaper than most parts of the country.

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