Real estate buyers loaded with cash wait for sellers to crack

Los Angeles Daily News ^ | 19 May 2020 | By John Gittelsohn and Jack Sidders

[Conservative4Life]

mine’s for sale

[reformedliberal]

...landlords in tourist areas will be forced to sell.
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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.

[reformedliberal]

...millenials are sick of the city life and retreating to the country.
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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.

[KJC1]

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.

[reformedliberal]

An internet connection is all u need these days.
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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.

[nutmeg]

I’ve 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!

[MikelTackNailer]

I was going to say swine but I like your term better.

[wny]

in 6 months you’ll be able to buy an empty mall for $1

[DEPcom]

So

[cgbg]

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.