Real estate values go up and down in cycles. Currently
house prices are near a ceiling in many areas.
The skyrocketing of California home prices is causing
nearly a quarter of residents to seriously consider
move to areas with more affordable housing.
California had the third fastest rate of households in the country.
price appreciation last year, behind Nevada and Hawaii.
Prices were up more than 18 percent from a year earlier, up 84 percent
in the past five years and a whopping 338 percent since
1980.
Fewer than one in five…19%…of the state
households can afford the median-priced single-family home
single-family home, which was $465,540 in September.
Guess what? Many of these Californians are selling their homes
for a lot of money and move to other states where
you can buy a similar house for a fraction of the price.
Arizona and Nevada are the main target areas.
In those states the number of home sales to St.
Francisco Bay Area residents have increased as much as (gulp!)
6,000% percent. That huge demand drives prices up!
Here in the Phoenix area we are right in the middle
of a home buying spree. In the last three months we have
we have put four of our rental houses on the market. Each one of
They were sold in ONE DAY! Offers above the asking price are common.
Real estate agents are pulling their hair out because
they cannot find houses for their buyers. Our listings with a
flat rate discount broker prompted dozens of calls from desperate
estate agents
The other side of the coin is that it is very difficult
find good tenants. Anyone with the slightest record of
financial responsibility is to buy a house.
If you are a cycle investor, you buy near the bottom and
sell near the top.
Is this the top in some areas? I can’t say, but when the homes are
selling a few hours after being listed, it would seem
indicate that we can see the top from here.
If you are in a hot area it is the perfect
time to buy and flip.
Start walking through neighborhoods early in the evening and
weekends They knock on all the doors asking: “Are you the friends
with a house for sale? Do you know someone who would be
Interested in a quick sale?
You will find properties! You may be able to sell some within
5 or 6 days. Accumulating a profit of five thousand dollars a week is not
impossible… if you’re willing to work.
With buy and flip you don’t have to worry yes or no
a top is near. The use of options almost eliminates any
possible risk. And a fast flip can be generated using the
System “How To Make Money On Real Estate Without Owning Property”.
There is money to be made… if you are agile.