Houses for Sale in the Neighborhood

[newlook 265]

I was out cruising around in my neighborhood yesterday and realized that 80% of the custom homes in a gated community next to where I live are up for sale - this whole area 2 years ago was bustling with prospective tenants....now it is a ghost town.

So, if anyone has 2 or 3 million laying around....this is the place to buy!! LOL

Actually, I should have put this thread in the Bargain Basement Category. :)

[newlook 265]

and a few more.

Some of you may remember this. A couple years ago I posted some pics on a huge concrete/landscaping job that we were doing (tennis court/putting greens, pool and etc). Well, this is the same development.

[Jeff 232]

Florida is like that my brother is here from Florida and theres neighborhood that are empty practically. Theres several around him, everything was selling for 300-500K and now they are selling for 175-250K. He has a freind trying to sell his house thats a few years old for 300K, well brand new in his neighborhood is selling for 180 ( same size, same style house) OUCH

Around here prices have gone down some but not bad. But man theres a whole heck of a lot of for sale signs & open house signs

[Tmrrptr 164]

Probably a great place to live, Carlos, but they sure don't belong in the bargain basement!

My guess is they will lose value for the next two years.

Gosh I hope this isn't a public thread!!!!!!

Everyone who hasn't, really needs to spend an evening reviewing the

HOUSING BUBBLE BLOGS

Unlike algore, the gloom and doom THEY depict are backed by empirical hard figures, facts, and supporting information that is without dispute.

We are in for a hard row to hoe!

My friends spec is in an exclusive development of 2-5ac plots, level ground, and excellent views of mtns surrounding the valley with no takers. I'm sure he'll jump at less than 1 1/2 mil nowadays...

r

[newlook 265]

Rich - you are absoultely correct about the long road ahead. I live right outside the back gate of the above community. My house, which is in a cul-de-sac, is one of 8 homes. Out of the 8, 3 of the homes are occupied ~ mine and 2 others. The other 5 homes were vacated due to foreclosure reasons. Needless to say I have plenty of parking around my house.

So yes folks - believe or not it is going to be very interesting in '08 as it relates to all of our works operation tempo.

Now is the time to be clever in your marketing strategies for '08. The rule of thumb is to run your business smartly, efficiently and cut out the "fat" before it cuts you out!!!

[Tmrrptr 164]

GM Carlos,

The Housing Bubble has affected me, in the extreme!

So, I'm constantly on the lookout for varying sources of work for our service business. My presentation must be lacking, because even with changes, I am encountering actual RESISTANCE from real estate agents, in particular.

One might think pressure washing would be a great, cost efficient tactic to improve curb appeal of a residence and help it gain a step above others in a marketplace flooded with a 10 month supply of homes available. No joy!

With so many homes in foreclosure, and vacant, I considered there must be opportunity, for those of us in the service business.

I have not yet determined HOW to approach banks, and such, regarding those REO properties, with inquiries regarding maintenance and upkeep.

However, I did make the rounds of various mortgage companies, in my travels, and offered my presentation to them.

As it happened, I met a couple, working in a mortgage company, that had taken over a property headed for foreclosure and I did an exterior wash on the mobile, which led to an interior paint job, and then electrical work.

What is needed, is a way to reach whoever makes decisions on REO, bank and lender owned properties.

From information I've seen on the web, there are hundreds of thousands of these vacant buildings that shall degenerate even more if they are not given at least a minimum of care.

r

[Beth n Rod 1,279]

So Carlos, what did you do, stock up on a few bargain homes? ;)

Nice neighborhood.

Beth

[newlook 265]

Beth - I wish - actually I am very thankful to be right where I am at. Alot of foreclosures going on around here.

As a matter of fact - I just left one of the house up there to do an estimate for. Just to show you how serious HOA's are....the potential customer is getting fined by the HOA $500.00 a week for not getting their landscaping done!!!

[Beth n Rod 1,279]

Amazing! 500 a week?

Beth

[Tmrrptr 164]

Ha! $500 a week fine!

Gotta love those HOA/POA's !!!

Here, front yard is done by the builder.

Back yard varies... some must be run by an architectural review committee for approval, others, well, they drive a stake in for the dog chain.

Have you seen where someone is PAINTING front yards green because of drought?

r

[newlook 265]

I haven't heard about the painting but have been asked to install synthetic grass vs. RTF sod (fescue/bluegrass), which we have experience in as we have done alot of putting greens in the past.

Beth - $500.00 may sound like alot but in this community homes are going between 2-5 million bucks a pop. If the fine was lower the people in these homes could afford to pay the fine on a weekly basis and it would not raise their eyebrows one bit. $500.00 bucks is in line with the area and the income level of these owners.

[John T 744]

I'll see what my Pal "Get Shorty" can get all those houses for then just hold them until the market heads upwards again. Now if I can get a 20% shakedown from the sales I'll be sitting pretty..oh wait I'm the law...can't be doing that:lgmoneyey

[John Orr 206]

If a house is dirty, it will eventually get cleaned - either by the seller or the buyer. If sellers are not motivated (or able) to get the work done, I guarantee that the eventual buyer will. It was the same at the height of the market - sellers didn't need to clean in order to sell, so the buyers got the work done. This is true with ANY needed cleaning/repairs/improvements.

Getting on a realtor's "A" list of vendors will go a long way toward reaching the buyers, and the occasional seller.

[copgib 15]

What do you mean John you can't do that! Cops get busted everyday for going bad. I have see it when I was a Deputy and I knew a few that got fired that I would have never thought they would ever be involved. Hugh