| PWNE Newsletter June 3, 2009 All the planets seem to be aligning for a push in the real estate market: Values have spent the last three years dropping, getting more in line with affordability; cost of money is down to historical lows; tax incentives for real estate purchases are in place. And the market is responding! As many of you know, we have been involved with purchasing foreclosure sales (Trustee's Sales) for a while now, and over the past few months, our liquidation prices of the acquired properties have been at or above our listing price on every property, with numerous multiple offers. Every Single One! And, believe me, we are not listing these properties exceptionally low to liquidate quickly. These are very competitive listing prices. We just closed on selling a condo in Westminster. The most recent Comp was a model match in escrow for $240000. We listed ours for $259900, anticipating $250000-$255000 offers, as ours was renovated. Within three days, we received four offers, picked an all cash offer of $265000 and closed in less than ten days! The other day the Los Angeles Times had a story about how the high end, affluent housing market throughout the Southland was experiencing stagnant valuation changes. I guess writing a story about how the "En Fuego" entry level housing market doesn't sell enough papers. Typical! Anyway, we feel that this is the start of a "stabilization-to-upswinging" cycle, and will continue as housing inventories shrink and the cost of money stays low. Very Exciting Times! Please feel free contact us if you are interested in discussing further, or have any questions regarding our operations. We would love to talk to you. Well that is our story, and we are sticking to it! |
PWNE Capital
Phone No. (888) 898-9373
admin@pwnecapital.com
admin@pwnecapital.com
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