The latest BS inflation reduction bill along with the Ca stimulus in Oct isn’t gonna help much. It’ll throw some gas on the inflation fire which will mean another tick up in interest rates right at midterms. What will be interesting is what do they do in 2024. If home prices are falling and inflation is still out of control there will be a shit storm of activity to get votes
You left a lot of money on the table. Waiting and waiting while that money loses value? Good plan....
Is it going to be a warm pool?
market is not over leveraged so it was able to shake it off. Lots of institutional and retirement money in it for the long haul. That’s my theory. For real estate the weak or newer investors are the ones that will drop their prices until the property sells. Experienced investors and institutional money won’t do that. Also maybe people at retirement or people who just want out of CA I don’t see there being enough of these sellers to cause serious price drops. I also think this real estate cycle will go a lot quicker than past ones cause people have better information and adapt a lot quicker now than in the past.
I think that the LTR market is still limited. When we stopped using our house as a LTR the tenants were having a hard time finding a property to move to. The big question is are there enough STR being converted and Chang pricing of the LTR? In a small toon it could happen with a few hundred moves. I am thankful that our plan worked at the time. We bought 2.5 years ago before the spike rented and converted to primary after the first year. Best of luck in your search!
Market has been on what I think is in a bear market bounce, last 4 weeks of very good increases, last 8 months have been a day traders dream. Recent quarterlies for retailers have shown a lot have same or higher sales numbers but the profit margins are much lower, moving more product they had in stock or ordered during covid for less profit. Some of the experts are saying this is 1979 all over again. Great time to make life long investments or short term profits.
Crazy stuff, we were sitting on our patio watching some of the craziness til it got so bad the rain was blasting across 27 feet of patio hitting the house, and then what we think was a microburst came by...that was nuts.
Hind sight is 20/20, He got 2019 right. The problem is you cant predict the gov changing the rules off the game.You left a lot of money on the table. Waiting and waiting while that money loses value? Good plan....
Yeah my point was that 11-12% is nice bounce and yet only the negative news gets the headlines.
I day trade so I see the positives and negatives being reported in the financial news and shows every single day. Both sides are reported constantly.
And left 20-30% on the table
Not if he invested in the stock market. He could have easily gained 50%+ on his money not leaving a penny on the table and making much more. NO ONE knows what or how others invest their money and the outcome unless stated.And left 20-30% on the table
Yes true but he could have easily made 20-30% or higher year over year in the last 3 years in the stock market. Not uncommon for good day traders to make that kind of money and up during this last 3 years of crazy markets. I have no clue what he sold the house for and what that same house would sell for today, would be interesting to compare market vs market.Woulda made that on the house from 19-21/22. Possibly even higher.
I'll tell you what, i just got quoted on run of the mill 5052 aluminum sheet at around $10.50 a pound....
For those that don't know, historically this product runs about $2.50/lb. Maybe $3 max. In 2006 i think it might have gotten as high as 5 before shit hit the fan back then....
Something is gonna give, and it's gonna give hard.
Drive safe, wife went up to Vegas yesterday, crazy monsoon weather through the dry lake beds and tons of flooding just before boulder city on the hwy and even crazier in Vegas central last night.
Looks like the increase if he kept it and sold it now would be 26% increase total in 3 years. I would rather take the % gained in the market day trading this last 3 years that is for sure.Woulda made that on the house from 19-21/22. Possibly even higher.
You take Nipton Rd?
Thankfully No, we always go straight up the 95 through Searchlight route to Vegas.
I lived that Lennar BS. One of the many mistakes I made in that business was working for them.
That is a pretty good observation. I would tweak it just a little. I fawked up in 2008; I don't want to make the same mistake, playing this time differently. I've no idea if it will work out, but my definition of success is fairly limited in scope. I simply want to time a bounce to a better position for retirement and maybe earn back some of the losses.
Good friend of mine is in lending business he went through 2008 did fine. It last few years working like crazy stacking cash his office closed up went remote working laid off a few as well. He told me before some co workers had the attitude it ain’t gonna slow down etc he told them save now gonna get rough we’ll they slowed or got laid off. He’s in a good spot planned ahead now has the time and money to do things again. But said whoever says it’s busy is full of shit
The mistakes are made, and the wise learn from them. I was hit hard enough last go around that I feared losing the ability to have a home or food for my young kids. "Retirement" was never a goal, survival was. I am happy I attained that one. No matter what happens, I know that part is set. Not a life of luxury, but not one worried about the next big hit, or hoping for the next big job.
Good Post, from everything I have seen to date Dave, his wife and her crew are some of the honest ones and are not afraid to state what they think not out of trying to con a potential client but give their honest opinions on trends and market temperament. My wife is a broker in NV and Cali and she typically handles part of my investment sales and purchases but we also use outside agents when we do not want to deal with the headache of a purchase or sale. I have dealt with many agents that try hyping the roses are red at all times in the market opinion and their narrative of a great market ahead when every indicator stated otherwise. I have also dealt with some great agents that told it like it is up or down market and I greatly respect and appreciate them. My thoughts are that a good honest agent can make a very good living weather the market is going up or down and most clients will always remember a good agent or agency.
better off going through kingman this time of year, in fact better off going that wayy all the thime...there's no flood zones... it's quicker, and you don't have sleepy truckers and old guys in rv's coming at you head on...there's more places to stop, and you never have to drive on cal hiways...and no inspection station.. I know it's hard to make a right at the 40, it just seems like you're going the wrong way...a couple miles farter.... but quicker and better roads...
