So if the hedge funds are purchasing the properties at retail price, (above what an investor would pay), is that putting in a false price average for the location?
Or is that higher price helping the area? Also ,what are the hedge funds doing with the properties once they have them?
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In our area, the market has turned around and building permits are up.
I did see an article the other day that said that the housing inventory nation-wide is lower than the demand of buyers.
In short, there will be an increase in prices and the market will turn into a sellers market.
Our market is fairly hot right now. Foreclosed properties that have been vacant for several years are being snatched up and worked on.
The majority of them are by homeowners it looks like as they have moving vehicles in front of the homes.
I am pretty happy about the turn around also.
John,
So if the hedge funds are purchasing the properties at retail price, (above what an investor would pay), is that putting in a false price average for the location?
Or is that higher price helping the area? Also ,what are the hedge funds doing with the properties once they have them?
So this goes for ugly houses also that need a lot of rehab also, John?