July 05, 2006

I sold my overpriced Tempe Arizona loft a year ago today, cashed out and walked away

Posted by blogger at 7/05/2006

6 comments:

Rob Dawg said...

I sold all my overpriced SoCal investment properties as of April, cashed out (laddered CDs) and am standing on the sidelines.

July 05, 2006 2:39 PM
blogger said...

the bubblesitters needs to be a myspace group - someone go set it up

July 05, 2006 3:16 PM
Anonymous said...

I sold a cabin in the mountains north of Phoenix to a few realtors from the valley last fall. I got full price and it sold in less than a week. Now you can't sell a cabin at that price, much less get any buyers since the second home market in the mountains has crashed along with the market in Phoenix.

I also sold my "high-rise" condo, OK, 11th floor of 23, but still, to the son of a realtor and a mortgage broker. They were begging to not let me sell to someone else, since there was a bidding war, and I was too busy vacationing in Paris to deal with the tools.

I banked all the proceeds in CD's and a money market account.

When the market finally hits bottom here, in about 2 years, I will be a buyer again.

BTW, I did still keep 4 of my properties in the valley, and they are rented with positive cash flow.

If you know what you're doing, you can do well. The problems is that most of these flippers had no idea what they were doing.

Lastly, a good article today in the AZ Republic that truly outlines the problems in the Phoenix metro area (frontpage at www.azcentral.com)

July 05, 2006 3:57 PM
Anonymous said...

Jan 05, I sold my unbelievably overpriced, inherited property, (really bad dump) in Baltimore for more money than anyone in their right mind should have paid for a decent place.
Stuck the proceeds in CD’s and deferred annuities and went on with life.
I wonder how the flipper is doing. He was going to fix it up and sell (or rent, whichever was more profitable, LOL) I wish him well.

July 05, 2006 4:15 PM
Anonymous said...

I don't exist, therfore I am.

July 05, 2006 5:08 PM
Anonymous said...

HYPOCRITE.

July 06, 2006 12:36 AM

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