Is The New Breed of Real Estate Investors Distorting the Market ?

In a REALTOR® Magazine-Daily News Article titled :

Wholesalers Flip Houses, Distorting the Market

Associate director for housing and economics Andrew Jakabovics, at the Center for American Progress, a Washington, D.C., think tank argues that "It makes the bottom [of the market] very frothy and hard to figure out where real value is."

Others argue that it makes it harder for lower-income families to take advantage of a down market.

My take is "Cash is King" when it comes to lenders in a real estate transaction. My question is how could it be controlled ?

What are your thoughts on the subject .. I would love to hear some arguments .

Popular posts from this blog

Palm Springs: $8000 Tax Credit Still Good till 4/30/11 For Military ...

Did you know that the $8000 Tax Credit is still good for members of the Military & some Federal employees in the intelligence community until April 30, 2011 to have a binding contract, and Closing deadline of June 30, 2011. "It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. " This is an great opportunity for those who are renting to take a look at buying a home. Home prices are very favorable, coupled with FHA 3% downpayment and incentives , and interest rates at their lowest , lead to a win win situation . For all the details go to IRS-First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees Find affordable real estate in Palm Springs , Palm Desert , La Quinta , Indio , Cathedral City .
Read more

Sun City Shadow Hills OPEN HOUSE Starts at Noon

Image
Open House Saturday & Sunday Sept 28 & 29 from 12:00 to 3:00 PM Located on Avenida Manzanillo , a very quiet street away from the main streets , traffic & noise. Close to the main Sun City Shadow Hills gate. Just follow the signs. This is a San Rafael plan , known as the Great Room Plan built with entertaining in mind, and opens to a large back yard with built in BBQ,   a sparkling Pool with tanning pad & Spa.  Do not miss this one!  Stop by this Saturday or Sunday, or call me 760-600-6187 any time for a private showing.   See all the listing details of this home here SOLD                                                 Sparkling Pool & Spa with Tanning Pad                  Sun City Shadow Hills  Home San Rafael Plan See all the   listing details of this home here
Read more

Palm Springs Condo Sales Up In Sold Price & Units Sold

Image
This May, we saw another healthy month of increased sales of condos in the Palm Springs area, surpassing single family homes in number of units sold and average sold price, when compared to May 2010. According to The California Desert Association's May 2011 report based on the Desert Area MLS of all desert cities; May 2011 266 condos sold at an average selling price of $224,914 . 30% were foreclosures and short sales. That's an increase of 22.6% in sold units, and an increase of 12.4% in average sold price over 2010. May 2010, 217 condos sold with an average selling price of $200,138. 36% were foreclosures and short sales. Palm Springs and Palm Desert tied at 86 in the number of condos sold . The average selling price in Palm Desert came at $266,624, a 7.3% increase from May 2010. Palm Springs condos average selling price came at $173,358, 12.3% increase over May 2010. La Quinta   gained 5.3%, while condos in Indian Wells  , Rancho Mirage , Cathedral City and Indio
Read more