For the purpose of discussion, let's consider this. With the tax incentive gone, it seems that the only buyers are investors. As we all know, investors are looking for a deal at a small percentage of property value. Wholesalers need to purchase at a price that allows them to resell the property and pocket a profit. The sales price average continues to drop because of these factors. Properties that were purchased a year or two ago at 60% to 70% of value are now valued at market rate or lower. Cash flow properties of a year or two ago are getting hard to rent with a positive cash flow because of the competition of lower priced properties, that can be rented at a lower rate. What will it take to turn this trend around and stabilize the market? A buyer who wants to hold onto the property for an extended amount of time, is afraid that the property will not appreciate or that it will take so long to do so, that a home is not a good investment anymore. What are your thoughts?
"NOW GO FIND A DEAL"
Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.