I buy all my cars at federal government auctions - not state, not repo. The federal government takes better care of their fleet cars because taxpayers foot the bill. When the cars reach a certain age (7 years) or mileage (aro...und 70K), the cars go to auction. The public can buy the cars around the country. Here's the site: www.autoauctions.gsa.gov. This week I went to an auction in VA Beach. 2006 SUVs with 50K or so miles were selling for $15 - $20 thousand! I bought my 2000 Expedition in 2007 with 50K for only $7,500! Have car prices doubled since the great recession ended?? Oh, never buy a car the FBI had. They trash them. My guess is that Homeland Security trashes theirs too. My big green Expedition came from DC and was assigned to the Department of Energy. Ironic?
Real Estate report: Home sales continue to recover and construction has improved. Realtors are reporting actual shortages of homes in some areas. Prices have recovered from 2012 lows but are nowhere near the bubble prices of 2006. If car prices are a guide for what is yet to come, I anticipate much higher prices this summer and fall! South Carolina and Georgia remain depressed with many bargains. Short sails are booming as banks are now ready to write off more bad loans! While fewer homes are currently underwater (mortgage more than value of home) the total number remains disturbingly high.
It is STILL a great time to buy investment real estate!
Real Estate report: Home sales continue to recover and construction has improved. Realtors are reporting actual shortages of homes in some areas. Prices have recovered from 2012 lows but are nowhere near the bubble prices of 2006. If car prices are a guide for what is yet to come, I anticipate much higher prices this summer and fall! South Carolina and Georgia remain depressed with many bargains. Short sails are booming as banks are now ready to write off more bad loans! While fewer homes are currently underwater (mortgage more than value of home) the total number remains disturbingly high.
It is STILL a great time to buy investment real estate!