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Christopher
's Questions (3)
Christopher
's Answers (331)
Indian Wells has held it's own during the downturn yet, it is anyone's guess what will happen over the next 6-10 months. Even with the relative affluence of Indian Wells.....it is not recession proof. Especially in an election year, your best bet may be to hold on and wait until after the first quarter to make your decision to invest there. Every one's situation is unique and, in the event a spectacular property comes available, at the right price AND you plan to hold for the long term......I would not discourage investing in Indian Wells. Providing, of course, your financial position allows. - Fri Jul 18 2008, 12:02
I would say that the very best way to get involved, at this stage of the market, would be to work together with another established REO broker. Getting started right now is admirable but, the amount of work to become established may not be worth the potential gain. I would look to Active Rain for a slew of advice and opinions on the subject. Good luck in your new venture! - Tue Jun 17 2008, 09:07
You have plenty to choose from in the Temecula area in the 400k range. Redhwk is one of the more secure areas yet, there are many others to consider in the area. The best way to make a decision is to visit communities and make the decision based on your personal feel. - Thu May 29 2008, 14:16
Although pricing has come down all over California and the Wood Streets area is no exception. The good news is that there are many buyers still looking for Wood Street homes. WHERE your home is located in the Wood Streets will depend on weather a market exists. If your home is on Larchwood, Castle Reagh or Beechwood, the market, although down, is still very strong, all things considered.
The main issue is that most folks think that having a "Wood Streets" home is everything. Most of us that have been around for a while only see the first 3 streets as desirable. Where on those streets is also important. West Side as opposed to East makes a big difference. The Closer you get to Edgewood, the lower the price and desirability.
If you bought a 1920's era home there in 2005 and have completed repairs, updates and maintenance that is true to the original era, with attention to detail and left the original details unmolested, there is still a market.
The "Wood Streets" mean many different things to many different people. Location, location, location could not be more applicable there. Secondary is a historically accurate home that has had all of the mechanical systems updated and modern upgrades done that look 100% original and undetectable.
I hope this helps! Have a great day. - Wed Apr 30 2008, 14:24
In any case, the lender must approve the sale terms and price at the auction. Although you were the "2nd highest bidder" the price may still be the issue. Even though you may have been the 2nd highest bidder, the owner will, as in many "auction" cases, counter offered at a higher price (Undisclosed reserve price). It has been my experience, in the SOCAL market, that the new MLS listed price when posted will be lower than the undisclosed reserve and, the seller will be more open to FHA or other financing options. - Sat Apr 19 2008, 14:38