All Forum Posts by: Joanne Tsai

@Will Gaston

Do you see eviction moratorium expiration increase the inventory in three next couple months? Not sure if there is a state specific expiration for yours.

@John Morgan

Yes I noticed that too. DFW has been a crazy market in the spring. Do you foresee the price increase to plateau soon? Or you think it hasn’t peaked yet?

Are buyers still waiving contingencies?

The couple towns I have been paying attention to around that area, the rental inventory is still quite low. Are the buyers now mostly for owner occupied? DFW is known to draw a lot of investors, I wonder if they are still actively buying or waiting it out a bit. Any insights would be appreciated!

So for all the investors that have observed some softening in your interested markets, what’s your strategy now?

Are you selling your rental properties or you are taking advantage of the current softening or you are expecting further softening and waiting to catch better deals later on?

For the realtors, have you noticed the investors behave differently in the recent months/weeks?

@Larry Fried @Jay Hinrichs @Steve Milford

it seems west coast still remains hotter than the east coast. I def have heard that south CA and the Bay area are still crazy markets. 

@Michael Brattelli yeah, our neighborhood is still crazy for the starter homes, esp the ones that don't require work. It's common to see 10% or 15% over asking. 

I know in NYC, the market is cooling a little bit, which is common for July/Aug. In order for a unit to go quickly, it usually requires no renovation, everyone seems to be aware it's extremely difficult to find contractors and good labors these days. 

Hi Mark, 

are you in CA markets? yes, I am hearing nothing is slowing down in CA yet, but I am curious if it's similar else where, such as FL or TX. I def see more price reductions and longer DOM in these markets. 

Hey all,

There have been a few articles on CNBC talking about new home sales plunged 25% in recent months (YoY) and also today there is an article talking about existing home sales also seem to trend down comparing to a year ago.

What’s the temperature in your local market? Is it still hot or do you find more negotiation room? And what is your forward strategy?

Thanks!

@Elias Barend Westhof

Yeah of course you can offer cash for key but so as the current owner. They probably tried and the tenants decided it’s better to live there for free.

Are you trying to manage the property yourself? Are you familiar with the eviction process or dealing with non paying tenants in LA?

You can offer the seller a few thousand dollars more and see if they can get the tenants out, but unless you are a super experienced landlord, my understanding with the law in CA, this can be a very lengthy and painful process for most.

@Shyam Panchal

If you are in UK, are you using a PM for your rental in TX?

You may just ask your PM how many of these items create liability issues down the road. We are also long distance investors and we don’t want to be sued for negligence.

It does seem most of the items are not huge, you can probably ask for some credits and have them addressed through your PM. You’d never find a perfect house and unfortunately with flippers, they try to cut corners here and there.

I’d be more worried if there was major foundation issue and such…..

@Diandra Duncan

They are allowing you to do inspection but having it informational. So if they won’t credit you for the issues found, you can still choose to cancel the deal. they probably don’t want to be bothered to see the inspection report, not sure if in NY state they would be legally required to disclose if you actually send them the inspection report after.

To waive appraisal contingency is very common when there is a bidding war, but if they pick you with 5% down, it’s probably not that competitive. Yes % down does matter, seller takes it as an indication of ability to close.

As a first time buyer, you should only do what you are comfortable with. 740k is not a small amount, if the appraisal comes back close at 730k, that’s still another 10k you need to have in cash.