Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Texas > Houston
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-26-2012, 03:57 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,111,665 times
Reputation: 15226

Advertisements

Foreclosure properties have already been forclosed and are REO.

Short sales are not foreclosed - yet (and may not be, if someone buys it at a price the bank will accept).
Reply With Quote Quick reply to this message

 
Old 08-27-2012, 10:09 PM
 
101 posts, read 369,740 times
Reputation: 163
Cheryjohns- First of all thanks for the reply. Is HAR complete and up-to-date in terms of viewing REOs then? Because I know each lender has their own website, but I'm so used to HAR's interface.
Reply With Quote Quick reply to this message
 
Old 08-27-2012, 10:32 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,111,665 times
Reputation: 15226
Yes, HAR updates from the MLS system every morning about 3AM.

A lot of those other sites are seriously out-dated.

As an investor, consider short sales. The banks are negotiating again.
Reply With Quote Quick reply to this message
 
Old 08-29-2012, 12:03 PM
 
23 posts, read 76,492 times
Reputation: 20
I guess it depends on what your goals are. But in general, unless you are mainly looking for a tax write off from the losses and depreciation, it's rarely a good idea to buy a single family house specifically for rental purposes.

If you are looking to actually make money renting a property, you need more units... 4 plex is a good start.

If you are looking at it from a long term perspective (i.e. you plan on renting it out for 20+ yrs and using the renter to basically pay your mortgage so at the end of the line you have a house that is paid for to use as your retirement / etc), then you definitely want to be inside the loop--because you'll have more appreciation over time than anywhere outside the loop.

You can buy a cheaper house somewhere else--but it won't go up in value much over the years--if at all. I bought a 4plex in Montrose in 1998 for $150,000 that is worth at least $450,000 today. If I had bought that property outside the loop, it probably would be worth $200-250,000 at best today.

Rent are also higher and rise faster inside the loop--and vacancy is lower. All those things add up over time.

Medusa Properties
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Texas > Houston
Similar Threads
View detailed profiles of:

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top