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one thing for sure that i agree about that i am busting on . that i am beating on the housing market even though hot. i guarantee it won't last a year. if it does i will stop posting. foreclosures are on a big uptick. just the facts. plus this price increase is not just natural in such a short time. investors just flipping.
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i am mostly bear also. but sometimes you have to close up your short position while the market runs up for while. then reopen your position again
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actually you want to hear something funny. over here in florida. there is a subdivision called bella collina. and all the lots were sold to mostly investors out of state. people paid a million and half for a lake lot. lake apopka is like the most polluted lake in the nation. fish are turned up dead and the water looks like low fat milk. you can even swim or boat in it. just dumb investors coming from up north.
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it had even made news in the orlando sentinel newspaper. just go to their website and register. search for the old news. it was like 2 to 3 weeks ago.
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while investors are buying everything up. i took advantage of it and sold the 4 properties that i had owned for the last few years. sold the 3 residental properties for almost 4 times wait i had paid and the 1 commercial property for almost 10 times what i paid. i think we are at the top, so i sold even though they might go a little higher in the short term.
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Glassman, back around 1992 to 1996 was the last time military bases were closed. Here locally, several were closed which resulted in a thirty percent drop in real property value within the immediate geographic region of the bases.
We bought a bunch around March Air Force Base. It took three to four years to regain that lost thirty percent, so we gained ten percent per year on the average. As you know, real property around here has been skyrocketing for several years now. I estimate we are up a very decent one-hundred-fifty percent plus a little, since our 1996 buy. My guesstimation is an average gain of fifteen percent per year in equity.
Yes, buying real estate around military base closures can be profitable, but you have to wait at least five years to realize big gains.
An important point is to _always_ buy in clean and well kept middle class neighborhoods, always.
Look for foreclosure sells six to eight months from now. Market percentage foreclosures will increase but this takes a minimum of three months to appear because foreclosures require time to step through the needed legal filings. Usually the bulk of foreclosures appear in month six after a military base closing.
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"I hear a very gentle sound With your ear down to the ground We want the world and we want it... We want the world and we want it... Now Now? Now!"
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wierd, Fresh Air is playing an interview with one of the first students at the Kerouac school of poetry right now, glad i didn't end up there..LOL he said Ginsberg was a real old bitty..
* Authors: Writer Sam Kashner on Life at the Jack Kerouac School
His new memoir is When I was Cool: My Life at the Jack Kerouac School. As a teenager, Kashner left his comfortable suburban life on Long Island and became the first student to attend the Jack Kerouac School of Disembodied Poetics in Boulder, Colo. Kashner's teachers were the great beat writers William Burroughs, Allan Ginsberg, Gregory Corso and Kerouac. Kashner is also the author of a novel, Sinatraland, as well as three non-fiction books. He is a regular contributor to Vanity Fair. This story was originally broadcast on March 15, 2004.
-------------------- Don't envy the happiness of those who live in a fool's paradise.
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