The life and times of an Arizona Investor

This will be my personal journal to document my failures and successes during my real estate experiences in Arizona. All stories, thoughts, and successes will be documented..

Wednesday, June 22, 2005

Offer #6 was rejected..

I offered 70k and some other investor bought it "as is" for cash for 100k! I thought comps were 115-120k

Crazy market..
|| Bginvestor, 5:50 PM

3 Comments:

Dang! Wonder if this is a veteran investor betting it will appreciate quickly, or a novice wanting their first property. You may keep an eye out on it just in case the deal falls through.
Blogger Steve, at 5:54 AM  
Steve,

Not sure! I should have picked the selers brain, but I wasn't in the mode for chatting.. ;-(
Blogger Bginvestor, at 7:02 AM  
That's a wierd situation. I would normally say it was snatched up by a novice investor, especially at the price they paid. But, not many novices have that kind of cash for properties. Maybe they were trying to find a property to invest money they got from a 1031 exchange.
Blogger Trisha#1, at 8:26 AM  

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