Anyone Buying Real Estate Yet?

[Spry]

With the housing slump in full swing... anyone bottom feeding yet and picking up sweet real estate? Are we anywhere near the bottom? I'm curious if anyone is investing in property right now.

Currently, I'm not buying or really looking into real-estate, but there is going to be some incredible deals available soon if not already. Maybe in 9 months or so I'll cash in some metals and head down to the local courthouse and do some bidding.

Anyone planning on buying real estate as investments anytime soon?

[PokerNations]

I think there's another 1-2 years of price drops ahead given the state of things.

Fortunately that's in line with when Jenn and I want to get a place down in NC. So that will either make our home more affordable or allow us to upgrade into something nicer.

[Geof]

In Europe best to wait. In Spain it is said to wait another 12 to 18 months. Great timing to grow savings for a deposit for the mortgage

[steveb]

I think we're near the bottom. And, if home values do drop, I don't think it'll be anything significant from here on. Good time to buy in my opinion.

[suffolkpoker]

I think to buy in the UK housing market now is a great time, ive been buying properties ever since i was 18, just my trouble is i dont sell, i just rent them out instead. It was allot easier to make the money b4 the boom, coss i could get as many mortgages as i wanted but now, its harder getting the money. If you do get the money its going to be at a great rate of interest so its a good time to get your loans into a fixed rate.

[CasinoMack]

Its no longer a good time going forward to be a an avg flipper.

Best to be a landlord now for the next 10 years. Problem is you need a good credit score and free cash to pick up props.

"The numbers" for landlords over the past 7+ years never made any sense due to inflated home values. Now that worm has turned. Being a landlord going forward will be very very good.

Personal earning power + less free credit + unemployment = bad for people trying to buy homes thus forced to rent.

Low interest rates + house values being cut = landlords can scoop up values where numbers make sense.

Condos still suck right now due to extra monthly maintenance burdens because of the emptiness of buildings.

I love real estate, love the stock market more, but real estate is getting interesting again in a whole different way.

[nascar1]

You may want to consider being a hard money lender, if you have some cash laying around.

I have been doing that rather then buy the actual properties and it is paying me 15% and I get 3-4 points up front and so far not even a hint of a late payment. And for the equity in the places, I wouldn't mind taking any of them in a foreclosure