Jeannie Niles Real Estate Investment
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A Different Downturn?
In the thirty years I have been in the real estate business, this is the first downturn where entry level housing was the primary product impacted.
In a traditional downturn, the higher end properties falter, then it filters down to lower priced homes. In this market, entry level housing is not selling, foreclosures are in abundance and it remains to be seen if the problems will filter UP to the more expensive properties.
It will take time for the market to absorb the foreclosures and entry level buyers to get back in the market. The key is maintaining cash, carefully evaluating your own financial situation and trying to “take advantage” of current conditions. When your broker calls with a good opportunity, be ready to act on it.
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Seven properties went into escrow in October.
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For Coachella Valley
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Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
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I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
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It can be very profitable purchasing bank owned properties in the current real estate market.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
