Craigslist as an indicator of the market.
For about a year, I have been tracking real estate sales on CraigsList. I like the resource because it has lots of FSBO homes, and that is what I am primarily looking to buy.
Three of my favorite search strings are "Motivated", "Reduced", and the all time best......"Must Sell".
About 9 months ago, I noticed a pronounced increase in the amount of hits I get when using those terms. I never created a spreadsheet of the number of listing / per day, but now I wish I had.
Just about every day, you will see 4-5 listings containing the phrase "Must Sell", only a few months ago, that term was nonexistent.
just my $0.02
Three of my favorite search strings are "Motivated", "Reduced", and the all time best......"Must Sell".
About 9 months ago, I noticed a pronounced increase in the amount of hits I get when using those terms. I never created a spreadsheet of the number of listing / per day, but now I wish I had.
Just about every day, you will see 4-5 listings containing the phrase "Must Sell", only a few months ago, that term was nonexistent.
just my $0.02
Comments
So exciting!
Denver 264 Foreclosures
San Diego 121 Short Sales
Boston 95 Foreclosures
Coming soon to a PNW property near you!
It has almost been one month exactly since I started the thread. You are correct about the term foreclosure. It has only been 30 days, and I now see an average of 2-3 listing per day that include the word "foreclosure".
Although, with subprime all gone things are likely to escalate.
You aren't seriously thinking of buying now are you? What took 10 years to build up won't correct itself in 2 or 3 years.
FYI, just got a GREAT new book "Crash Proof" by Peter D. Schiff. Explains this entire mess in a way that a laymen like myself can understand.