We have written about personal debt and real estate a few times in the last year but a new wrinkle has surfaced and it may help more people out of tough times so I think I should write about it. Debt is a part of life and when it becomes overwhelming, people look at their home as a piggy bank. The problem is that more and more people have “sucked out” all of the equity from their homes and they are left with no assets. The phones are ringing and collectors are knocking on your doors but you still think everything will be alright.
by Darrin DeRoches, July 24 - 30, 2014
This week I had client who wanted to offer on a house that just came out and was set up for competition. They would not accept offers until one week later, after the open house. We viewed the property and I tried to show them that the house was not worth the asking price. I saw a lot of work and the price did not reflect the scope of work and market value. We left the showing and I thought that they would not want to make an offer, but they went to the open house and figured they were up to the task of doing the work if we got it for the right price.
by Darrin DeRoches, July 17 - 23, 2014
I have clients who are looking to spend $400,000 dollars for a property in the west end and we are unable to find a suitable property. Ideally we would like an investment property and if not they would spend a little less and buy a single family. The inventory is so low and we have looked at everything that has hit the market, so we started to re–look at what is out there and it amazed me how out of whack some properties are priced.