Is that true or false?

One of my best contacts told me that an REO listed for 180,000 sold for all cash, 225,000.On top of that, the banks are actually fixing many of the homes up to "move in" status, so an owner occupied buyer is moving in.What this will do in the long run is back up inventory, create a false price appreciation, thus causing a glut and price reduction just to turn RP assets into Cash assets.California investing is going to take patience in 2009 and 2010.

Those are for people who are making offers and have no financing/cash to actually close, but had false hopes of wholesaling.

It seems like an absurd time to bring up the topic.

Loan mods are the worst false hope band aid I've encountered in the business.I appreciate the 'hotline/brochure' approach to give them all of their options, but are you a foreclosure counselor working for free, or are you a real estate investor there with a specific solution to their problem?

I have no false ideas about real estate being like hgtv or anything like that.

@Anthony Wick....yeah I've never had units in weather sensitive areas, so I'll defer to those with the experience of dealing with that part..... so if no one moves in winter, then in general turnover should be very small in those months whether you have a long lease or M2M I guess it protects for rare occurrence when people do move during those months and you struggle to find someone to move in....totally understand wanting to do that....I get it...... but if you cant rent it back out quickly and will never see the $$ from the previous tenant, then its a false sense of security....sounds great IF you can get the $$ from the previous tenant....but that's a huge IF to me.....If you have a longer lease and start working hard to fill it as soon as you get notice that they will terminate early.....and usually get it rented quickly...and the old tenant isn't getting stuck with paying for vacancy in most cases....then its really not any different than having a M2M.

It may be a great representation of reality, or it may lead to false conclusions about reality.

In all seriousness, paying that much is absurd.

I called a title company and they had told me it is illegal to write your own contracts and present them to the seller.That is absolutely false.