OfflineYou can read the entire msnbc.com article here:
http://www.msnbc.msn.com/id/43477387/ns/business-personal_finance/
but some noteworthy quotes:
"The crucial spring home selling season is almost gone and it has left a wounded housing market limping in its wake."
"Cash purchases made up 30 percent of sales in May, while investors accounted for 19 percent of transactions."
"In the 12 months to May, home resales were down 15.3 percent. The general weak housing market tone was underscored by the median home price, which at $166,500 was 4.6 percent lower than a year earlier."
And while I believe there can be some real opportunity for investors that know what they are doing; I would caution everybody to be careful on their selection. It's the wild west out there and it is going to get worse before it gets better.
Always Looking to Acquire Houses | Always Looking to Amaze Investors
I dont think its over yet
since home values are dropping at 1% per month- savy investors are waiting for it to bottom out...but who knows when that will be
I agree that its going to get worse before it gets better
Thanks Bill for looking out
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools
Tying to figure out the bottom of the housing market is like trying to figure out the bottom of the stock market. Some might get lucky and hit it right, some will miss by a little, and others will come in when they are sure its going back up. There will always be guessing and luck involved, sure, we can be "in the loop" as much as possible, but still no one really knows when the bottom will hit. Like most of the successful REI people here that lay out advice on a daily basis, make sure you have more then 1 plan for your investment. And make sure you are getting the property at an extremely discounted rate.
SEMPER FI
GET SOME!
"Tying to figure out the bottom of the housing market is like trying to figure out the bottom of the stock market. Some might get lucky and hit it right, some will miss by a little, and others will come in when they are sure its going back up"
.....That's like saying "Ah, that creative real estate stuff never works."
Check out
http://www.realestatetiming.com/
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Richard Russell (Dow Theory Letters): Campbell - housing to trough in 2012
“I read a great deal about real estate, and I follow real estate trends closely. By far the best real estate guidance that I’ve come across is Robert Campbell’s ‘The Campbell Real Estate Letter’. Nothing I’ve read compares with Campbell’s great record. Bob Campbell called the exact top of the real estate cycle in his report of August, 2005."
Read more: http://www.advisoranalyst.com/glablog/tag/london-school-of-economics/#ix...
.....Note that the trough prediction was made in 2009...much has changed due to govt intervention and the economy. He does have an excellent track record. He has also written a book "Timing The Real Estate Market"
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The best report on the housing market we’ve seen so far comes from the “Campbell Real Estate Timing Letter.”
Read more: Declining House Prices Weigh Heavily on Underwater Homeowners http://dailyreckoning.com/declining-house-prices-weigh-heavily-on-underw...
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As Robert says, "If bought at the wrong time, location is of no use. if bought at the right time, location is of no need"
If you choose to subscribe to his newsletter, tell him Belvedere sent you and you might save a couple of bucks.