If you deal with investors from time to time, now might be a great time to get out there and renew the relationships. We see sellers that have been on the market a while get a little more reasonable in the winter months.
This winter may be even better, especially for vacant or under rented properties. Investors don't want to pay the gas bill and tenants move to new properties slower in the cold months. That means that there is a better chance that the home vacant at Thanksgiving has a higher chance of being vacant through the new year.
Not just for investment properties, this also applies to vacant primary residences. Seller is in Florida with a vacant home in the snow belt. They are paying mortgage, heat and all the other carry costs. Doesn't sound fun to me.
Rich Kruse - Gryphon
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
Hi Rich,
I completely agree. The next 6 to 12 months should prove to be a really good investment opportunty. We have many 1031 exchange clients that have been waiting for the right time to buy. It's just a matter of time before the buyers really jump in.