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Yes my brother and sister both got 550k lots from 2005 for under 60k. they can hold 10 yrs and make 4 baggers, but once all this cheap invetory is gone real estate will be much tougher. i'm already seen some flipping going on. go look at redfigh village. 4-5 sold in the 150's to 180's theres been a few $300k sales lately. thats insane. who would pat 100% premium on condo's over 5-6 months
 
ray said:
Yes my brother and sister both got 550k lots from 2005 for under 60k. they can hold 10 yrs and make 4 baggers, but once all this cheap invetory is gone real estate will be much tougher. i'm already seen some flipping going on. go look at redfigh village. 4-5 sold in the 150's to 180's theres been a few $300k sales lately. thats insane. who would pat 100% premium on condo's over 5-6 months
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Ray,
I believe originally the Redfish units sold too high and then when they flushed them out in the 150-180 range they probably and apparently sold too low. The market is still trying to figure out where true values are. They change by the mile and fortunately as we clean up inventory we are learning where things will sell at. Remember, there are always buyers in the market place. Buyers never leave. Value leaves. Find the right price and the buyer will come. If you are not selling right now, you are not at the right price. The buyers do not see value (yet). Plug in the correct price and a buyer sees value.
 
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