"Subject To's" in Austin Market

[scott53]

Was wondering what others have been experiencing in the Austin market relating to "subject to" transactions.  Houses are very abundant right now and was interested in seeing if others are having any difficulty in reselling the property.  Thanks in advance for the input.

I just recently found this site and am very impressed with the topics and the contribution of its members.  Keep up the good work.

[Admin]

Scott,
Yes, I'm experiencing some slowdown, but that's not new.  It's been going on for almost a year now.  Part of it is me because I've been lazy, not doing the things I know I need to do to move the props.  

The folks I know who are having little problems are selling/renting noticeably below market.  The folks who are offering vacations, toasters, DVD players, etc. don't seem to be doing quite as well, but better than those of us who are slackers.

If you multiply the rental decrease out over a year, it doesn't take much to make that a better scenario than multiple months of vacancies. :hammer

[scott53]

Thanks for the reply Tim.   I am going to resell most of these that I get for now (target buyers who can't qualify), I'm not going to rent any of them for now.  Was looking to see if actual sales were difficult or almost impossible at this time.  Thanks.

[Admin]

Scott,
Sorry for not being clear in my post.  My view is that unless it's a retail sale where I get cashed out, it's a "keeper".  As long as I'm still involved in the deal, it's considered a keeper.

I used the word "rent", but to me it's all the same with the keepers.  You can substitute whatever term applies regardless of how the property is filled or sold.  So, my post should have been more generic in that I've found it's more difficult to move a property right now, period, and that includes rentals, lease purchase, owner finance, traditional, etc.

Hopefully, that clarifies my prior post some...