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26 Feb 08

Buying Foreclosures: Getting The Most Out Of Your Investment ~ Real Estate BlogShots

  • Heard the news..? Wall Street is down. And it's been caused by the U.S.
    housing slowdown! Here's what this means for Real Estate investors, millions of
    Americans are trying to sell their homes, and the latest news from the Mortgage
    Bankers Association (MBA) isn't good. The MBA sees sharp drops in sales of both
    existing and new homes this year, with mild rebounds expected for
    2009.
    Buyers, on the other hand, couldn't ask for better news, earlier
    projections that had the housing market recovering early in 2008 would have left
    buyers scrambling to take advantage of the busy spring sales season, potentially
    leading to increased competition and driving up prices.
    With slow conditions
    expected to continue throughout the year, however, buyers can go through the
    process at a more deliberate pace without fear of missing out on the best
    prices. The MBA believes median home prices will fall about 2% in 2008 but
    regain most of that entire drop in 2009.
    So how do you take advantage of all
    this? It's simple, buy low and sell high.
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