When the Mortgage Payment = Rent Do You Buy Then?

[SoCal Bottom Rider]

These people are crazy ass-umming that if an area has several foreclosures it must be ghetto. In OUR AREA OF CA there are many nice new communities that have foreclosures. Because many who purchased did so at the peak so of course there will be foreclosures. Stop with the generalizations. All RE is local.

[fairmarketvalue]

Originally Posted by SoCal Bottom Rider

These people are crazy ass-umming that if an area has several foreclosures it must be ghetto. In OUR AREA OF CA there are many nice new communities that have foreclosures. Because many who purchased did so at the peak so of course there will be foreclosures. Stop with the generalizations. All RE is local.

Didn't mean to generalize since that is what most frustrates me when it comes to the real estate market. You are correct, my "impressions" are what you accuse as we just don't see Upper end neighborhoods having any and if so, one very rare exception. Sorry about that. I really do understand CA is in a different situation and that real estate is VERY local. We feel fortunate not to be in the situations you all are seeing.

What about the first questions in my post as far as "investors" getting back into the market. That's the direction this thread was taking with a few posts concerning the "market picking back up again" with rentals= owning. Anyone care to give your input?
Thanks

[sheri257]

Obviously I can only comment on my particular area of the Central Coast in California. I've seen a little bit of investor buying and prices looked like they were about to stabilize but ...

In July prices took another major nosedive in the areas I'm tracking. Some areas I thought would hold dropped up to $40K in just one month.

While there's buying and a fair amount of activity, the notices of default keep coming so ... IMO, this isn't really going to turn until the NOD's start dropping. I'm not seeing that yet.