Tick Tick Tick... Next (Last?) Wave of Foreclosures Coming

It's anyone's guess when the bottom has arrived on a national level, until everyone can actually see it. When that happens, as one can imagine, those great deals dry up.

What we don't try and do is actually predict the bottom, because the bottom is pretty irrelevant when you are getting steals on already slashed prices. By doing so, you are insulating yourself from further losses in the market, if your area is still on the downtrend where foreclosures are most prevalent. If it's not dropping, then you are simply pulling that more profit from the deal.

However, what we do care about is time...

How much time do we have left to take advantage of all the insanely great investment possibilities?

How many deals can we get done to build up our net worth before you have to grind it out to get great deals in the real estate market again?

According to a recent report, it looks like Spring of 2009 is when the last significant wave of foreclosures are expected to hit the market when ARMs reset.

That should basically have flushed all but the strongest mortgages from the system by that point.

So, while we don't know where the bottom exactly is on the national level just yet, we do know the clock is ticking. With that in mind, you should be more vigilant than ever in your goals to seek out profitable deals.

Of course, no article would be complete without mentioning the crisis (the true extent is being widely debated) in the financial markets. That is one wildcard at this point that is still hard to pin down on exactly what will happen in terms of credit, and how that will affect the market and our ability to continually make quick and easy deals.

However, given our governments track record, it seems safe to assume short of the total collapse of the western financial system and life as we know, there will always be money to buy houses by people who are truly qualified, and there are no shortage of such individuals, just a shortage of them willing to step in until they feel like there is no chance of their home losing value.

When the bottom is evident to everyone... off to the races!