With inventory levels shrinking in many parts of the country, are distressed St Louis Properties cheaper than they were a few years back?
I’m not sure if they are or not but I will give my commentary on the matter.
I will try to keep out statistics because sometimes they can be confusing even though validity isn’t questioned.
Only my “humble” opinions will be on display to make every thing more understanding.
I will attempt to make both cases for the “wise” real estate investor.
Distressed St Louis properties are cheaper investments when the market is under duress.
As you saw back around 2008 during the market crash, real estate as intrinsically cheap because so many folks lost their homes.
Prices were very low and it was pretty grim because of the nature of the entire market.
If you are reading this and you’re in a different city then chances are your area was very similar during that time.
There were banks that had loads of inventory on their books and were selling at a discount.
Many people were losing their jobs and of course foreclosures rose to record highs.
Real estate brokers in St. Louis were going through tough times as well.
I wasn’t in business at the time but real estate was something that I was studying back then but didn’t take the jump.
Boy Oh Boy, I Wished that I would’ve because distressed St Louis properties were low cost and readily available.
Distressed St Louis properties are more expensive right now.
Low inventory levels are a great indication that the demand for real estate is high.
Now does that mean the ENTIRE market is expensive?
Not necessarily in every city but this is how distressed St Louis properties may be available to few:
There’s a small segment of people who just simply need to sell a property for what ever the reason could be.
More opportunities occur for investors in this small market and the price really isn’t a factor.
It’s simply all about opportunity and a need to sell a property.