Jeannie Niles Real Estate Investment
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Even In This Downturn I Still Like Real Estate
Each day brings more negative news about real estate, especially in the Southern California Residential Market.
For the first time that I am aware of, Wall Street and the Residential Real Estate market are encountering difficulties simultaneously. (I won’t belabor the reasons why, but if someone enjoys discussing global economics, please contact me).
This downturn has also occurred much more rapidly than previous declines. The end result is a lot of fear and panic in the market.
Being a pro-real estate person, I still feel better owning real property than a stock certificate because I can do lots of things to get through the current problems as well as improve my position.
Examples:
1) Change usage.
2) Improve/upgrade.
3) Increase rents as a result of #1 or #2.
4) Restructure existing financing.
5) Exchange/Sell or Buy Different Property.
If you are selling at a lower price, you are also buying at a lower price, so in theory the market didn’t impact you, only if you are selling for cash and getting out of real estate.
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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
