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I am new at investing so i need some help to get started. and to make sure if its worth jumping in right now since it has been dying down.

2006-09-26 02:13:51 · 7 answers · asked by Anonymous in Home & Garden Other - Home & Garden

7 answers

I wouldn't pay too much attention to NATIONAL media reports on real estate which report a cooling off period recently. Look at your area. Are area businesses doing well? Are they hiring and investing or are they laying off? That will tell you if people are likely to be moving into the area, and therefore, potentially buying a home.

However, when it comes to pre-foreclosure homes, it's more complex. You really want to focus on the home and specific area where it is located. If you are in an areas where business is doing poor, more pre-foreclosure homes will be available but not many perspective buyers. If business is doing good, well, less pre-foreclosure homes, more competition, but quicker turn-around times.

You have to think this through on a local level, not a national one, especially when it comes to pre-foreclosures. I WOULD NOT buy a pre-foreclosure home in an area where prices have already been driven to record highs. Honestly, I would focus, generally, in less populated areas that did not benefit from past real estate valuation growth. Internet commerce and home/office technologies make these areas ripe for future valuation growth and plenty of pre-foreclosure opportunities exist for investors.

2006-09-26 02:32:45 · answer #1 · answered by Jeffrey B 2 · 0 0

Right now is not the time for a first time real-estate investor to enter the market. The only people I would tell to buy right now is someone looking to live in a home for 5-10 years.
PS. Don't be seduced by the attractive prices of pre-foreclosure/forclosure homes if you don't know what you are doing. They can be a whole lot of headaches and $$$ in the near future.

2006-09-26 02:21:07 · answer #2 · answered by Anonymous · 0 0

I would wait for post-foreclosure homes and bottom feed from the Banks, etc. who will be holding a lot of these properties and will be willing to negotiate a more reasonable sales price to get the delinquent loans/real estate off of their books. Prices in the general market should decline some but not greatly except in the highly overpriced select markets in the US.

2006-09-26 02:36:01 · answer #3 · answered by Anonymous · 0 0

I have had my house up for sale for about 3 months and only 2 bites on it. I think it is a good market for the buyer but not looking so hot for me the seller...and I don't have a foreclosure home but it is in a very low price range.

2006-09-26 02:19:07 · answer #4 · answered by swanseaemtgirl 4 · 0 0

Chances are the market should begin to pick up, especially since as prices are dropping. People are more willing to invest and travel when prices begin to drop. Interest rates have also stopped rising. I would wait a few months to see what is happening.

2006-09-26 02:18:02 · answer #5 · answered by Krispy 6 · 0 0

ok girl

2006-09-26 06:38:50 · answer #6 · answered by jeff s 1 · 0 0

yes it is. and you're cute.

2006-09-26 02:33:43 · answer #7 · answered by cosanostra 1 · 0 0

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