I keep hearing the word "vulture" in stories like this. There are so many vultures out there you have to wonder what kind of real estate carrion they are actually eating.
Most any sophisticated investor will tell you they are looking for value in deals, value that will allow them to make money. But right now we have two problems in the market. The first you know about: getting cash to do a deal and make it work. Here I speak mainly of loans, although you can also factor in finding equity to do deals or to refinance properties that have declined in value combined with increased LTV requirements.
The other is the buyer-seller disconnect. Sellers are not willing to part with properties at what "vultures" consider to be cheap enough. And buyers are not willing or able to come up to the numbers the sellers want. And there is very little middle ground. Only when that middle ground is reached along with reasonably available loans are we going to see this ice jam break.
