The news continues to be troublesome for the most part, but there are bright spots. Low rates and plenty of inventory out there to choose from should be forcing us all into the real estate market. So why isn't it?? Yes I know certain industries are experiencing contraction (like mine) and you do need a job to buy real estate. But for those of us who have the means, let's make some lemonade out of these lemons.
I don't want to appear cruel and I will address the mortgage loan mess in another blog, but there are some serious opportunities for those who can invest for the long term. Many small investors (and large investment entities) sold a lot of real estate in 2004-2005 and are sitting on a bunch of cash!! So what are real estate vehicles these groups are starting to put their money? Here's a quick list......
Short sales
Court-ordered foreclosure auctions
Lender auctions
Developer closeouts
After-auction sales of REOs
I'll talk about each of these separately in upcoming blogs. Don't forget about our monthly Wealth Building Through Real Estate conference call, Thursday February 21, 12-12:30p.m. E-mail us for phone number and passcode.
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