A report on whether the big investor groups are doing the dump-and-run:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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Short answer from Diana? No, they aren’t dumping yet.
She heard of one company selling 500 properties, and then mentioned another that said they are still buying 1,000 houses…PER MONTH.
They are like the banks – they would be crazy to let it be known that they are selling anything. We won’t ever HEAR of a dump-and-run.
My bet is that it will be a long time before these investment rentals hit the retail property market. They’ll likely securitize the assets and dump them on CalPRES and other pension funds when the return rates weaken. If your hoping for these properties to hit the retail market you’re going to need to see a smaller player get over leveraged in the wrong sub market and blow up with no one willing to buy the assets in bulk.
I don’t see them dumping for awhile.
maybe livin got it about right.
Not sure, but I don’t think there was much in the way of Big investors in the SD area anyway.
Could be wrong but I never did see anyone buying big blocks of homes etc…
Agreed, I haven’t seem or heard of any bulk sales around here. All onsey twosy.
“2013 will likely be the top of this cycle”. I would take the other side of that trade.
they need to do more QE an get rates back down to 3.5% so people have some equity to pull and lift this economy out of doldrums.
Anyone get a piece of the REMAX IPO?
While big investors are important, their impact on small investors is also important. Small investors (e.g. people with one unit) have higher operating costs than the big guys (e.g. corporations with hundreds or thousands of units). If big investors increase the supply of rentals, rents will decrease, pushing out the little guys.