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Real estate buyers loaded with cash wait for sellers to crack
Los Angeles Daily News ^
| 19 May 2020
| By John Gittelsohn and Jack Sidders
Posted on 05/19/2020 5:04:42 PM PDT by MeneMeneTekelUpharsin
Private equity firms hold an estimated $328 billion in dry powder for real estate deployment.
The worlds biggest real estate investors are sitting on piles of cash, preparing for once-in-a-lifetime opportunities created by the pandemic. With economies around the world sputtering, commercial real estate prices are expected to come down. How much theyll fall is the key question.
Sellers are currently willing to concede discounts of around 5%, while bidders are hoping for about 20% off pre-pandemic prices, said Charles Hewlett, managing director at Rclco Real Estate Advisors. That estimated gap, which is likely wider in specific cases, has put a freeze on deals.
(Excerpt) Read more at dailynews.com ...
TOPICS: Business/Economy; Miscellaneous; News/Current Events; Politics/Elections
KEYWORDS: buyers; estate; real; sellers
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To: MeneMeneTekelUpharsin
41
posted on
05/19/2020 8:37:26 PM PDT
by
Conservative4Life
(But he that sinneth against me wrongeth his own soul: all they that hate me love death:Proverbs 8:36)
To: Vince Ferrer
...landlords in tourist areas will be forced to sell.
__________________________________________
I live in a tourist area and am moving to another such area after looking for 5 weeks in several such in Wisconsin.
Homes and land are selling within days and sometimes within hours. There are already price drops and they began in April, maybe in the vicinity of 8%.
Talk to the brokers. They are doing very well.
To: Extremely Extreme Extremist
...millenials are sick of the city life and retreating to the country.
_______________________________
That’s likely true. The interesting part is how long they will they stay?
Areas that already have thriving millennial communities with all the restaurants,galleries, co-ops, interest groups are also filled with the fearful, so the amenities are all closed.
These are the prototypical Karens.
We chose a fishing/hunting area filled with retired and active military that voted 68% Trump in 2016, instead.
To: DEPcom
Watching a 1 acre river front lot in the mountains that a person just inherited from her Grandmother. It was on the tax sale but she step up paid the taxes at the last min. I am hoping she will sell it quickly when I offer her cash. She thinks there is a cabin on it, there is no cabin there, she has never been to the property. We will make the offer this fall when the stimulus and the extra $600 a week stops.You sound like a total A$$hole who looks forward to taking advantage of someone who is struggling. Your sentence structure is interesting, in an ESL kind of way.
44
posted on
05/19/2020 9:01:15 PM PDT
by
KJC1
(Illegals: One hand out and the other one flipping us the bird)
To: DIRTYSECRET
An internet connection is all u need these days.
________________________________________________
As someone who just spent 5 weeks looking, high-speed is not ubiquitous. Mostly it’s DSL and sat.
Fiber is being built out, but it’s limited to towns and larger ones at that.
To: Extremely Extreme Extremist; matt04; LisaFab; cgbg; Biggirl; BillyBonebrake; ModernDayCato; ...
Ive read stories of about how millenials are sick of the city life and retreating to the country. Saw a story about this last night in our local news (Connecticut). Supposedly the real estate market in tony Fairfield County is 'hot' right now because droves of people (I think young or young-ish people) are suddenly fleeing NYC.
Our house is 130 miles NE of Grand Central Station. Unfortunately a bit too far to commute to NYC daily. We're hoping to sell in a year or two, and move to a Free State in the South. Screw The People's Republik of Connecticut!
46
posted on
05/19/2020 9:15:16 PM PDT
by
nutmeg
(Mega prayers for Rush Limbaugh)
To: KJC1
I was going to say swine but I like your term better.
47
posted on
05/19/2020 10:14:30 PM PDT
by
MikelTackNailer
(Man went into the bank with no mask and everyone hit the floor.)
To: ProtectOurFreedom
in 6 months you’ll be able to buy an empty mall for $1
48
posted on
05/20/2020 3:34:39 AM PDT
by
wny
To: KJC1
49
posted on
05/20/2020 4:50:37 AM PDT
by
DEPcom
To: reformedliberal
how long they will they stay?
You nailed it.
We live in a _very_ rural town in CT and everyone watches and waits whenever a newcomer buys a house in town.
Half of them move out within a couple of years.
Things the newbies didn't understand:
It is quiet at night, total silence--very scary if you are not used to it.
There are a lot of wild animals that show up at places and times you wouldn't expect. A porcupine in their garage or a bear greeting them at the end of their driveway is always interesting.
Then there is the fact you need to plan your trips to civilization. You cannot forget one ingredient and just grab it quick at the corner store--there are _no_ stores in town.
If they have kids in school with after-school activities they are in for a nightmare--they will spend their life driving back and forth long distances. The nearest schools are many miles away.
Of course, no-one in town speaks to them the first couple of years--they have to pass the "initiation" first.
But--if they prove they can hack it, everybody here is great.
50
posted on
05/20/2020 5:48:28 AM PDT
by
cgbg
(New poll: post elderly voters like Biden's experience as Wilson's VP fighting the Spanish Flu.)
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