Tagged : income property

After what has amounted to a real dry spell, this week has reaped more calls about  income property than about any other type of real estate in months. Specifically, I've been getting a lot of calls about owner-occupied income property. My question is: could this signal the beginning of a turnaround in Madison WI income property?

There were 87 income properties sold in Madison in 2008. That's an implied absorption rate of about 7.25 properties sold per month. The median sales price was $233K. So far this year, there have been 7 sales of income property in Madison at a median price of $191,666. So the median price is down and so far this year the absorption rate is down too. At the moment it's .583 properties per month. Admittedly not very impressive.