HOME PRICES in your area? Do I just live in an expensive area?

Same story in New York. Most of the homes you read about here that people bought for 50-60K are in the middle America. You and I live in the expensive area.

My advice to you is to try and expand into the neighboring state of California or see if you can find foreclosures in your area for cheaper then 200K. There are still deals even in the expensive market, they are just not 50K deals but 100K deals.

Hope it helps. Good luck!

Yuri

Sounds like the recession may have overlooked your area. Here in Michigan, where they are bragging about lowering the unemployment to 15%, and the mass exodus has slowed, foreclosures are plentiful. How is your unemployment rate. How is the job market as far as job openings. You may try going to your local lenders, find the asset managers and quiz them on available foreclosures and short sales. Even in good times they still happen, just may not be the killer deals found in harder hit areas.

Is it really getting better in Michigan?

Yuri

Taking into account the number of jobs lost in the auto industry alone, and hearing about a company expanding that will hire 200 people over 5 years, I'm not too optimistic so far.

I figured as much, that's why I asked. Over here is not THAT much better. I guess everyone is suffering to different extent.

Yuri

Recently, unemployment is 1% more in Tacoma than national & 0.8% more than Washington State.
The median home price dropped about $40,000 in the last year.
And we don't have as many jobs as we used to.

So I don't think my area completely dodged the slump, but since my post (only a few hours ago ) I've been learning more about analyzing markets & I think I found my own answer...

I just live in an expensive area!

Advocate - Thanks & I hope Michigan gets better for ya.

YURI77 - Thanks. I hope to see New York for the first time soon! I would've had to wait MUCH longer without Dean & the site-peeps!

Like I said, even expensive areas have deals. Look for those.

Yuri

Wow! here in South Jersey there are killer deals everywhere. I have 3 locked up that I am wholesaling for under 50,000. Unemployment is at an all time high here and people are really struggling However there are investors coming out of the woodwork so it evens out the housing market here I guess. With so many investors buying at bargain prices the housing prices continue to drop. Crazy cycle!

Where did you find the investors? I tried craigslist but can't seem to find any investors in Jersey.

Yuri

craigslist is just one of many sources to find investors. I have joined my local Investors club, along with various investor groups online (facebook, linkedin, twitter etc...) social sites are a great way to connect with your local Investors and they all have groups that you can join tp get more involved. I have joined every social site and put up a profile and contact info. I would say I get more buyers through social sites than any other way I have tried. buyers want to see that your a real person, they want to know about you this builds trust. Social medias are a great way to present yourself to the Buyer World! I also stay in touch with my buyers through email, IM or twitter. Sometimes just to say hi or see how they are doing. this builds relationships which builds trust. remember Investors know other Investors so recommendations are sure to come your way if you stay real.

http://www.facebook.com/carol.stinson
http://twitter.com/csinvestments

Thanks for the info!!!

Yuri