home foreclosures, short sale
If you're lucky enough to have some ready cash handy, it can be really tempting to snap up some of the home foreclosures and short sale homes that are currently flooding the market. But my advice is to embrace patience. Adopt a wait-and-see attitude before you run out and start buying up home foreclosures and short sale homes that look like bargains compared to the real estate prices of even two years ago. However, everything I'm seeing is telling me that the real estate markets in the most overheated areas will continue to shrink in value for the next year to a year and a half. It only makes sense to hold off on buying home foreclosures until they have hit absolutely rock bottom values. The number of home foreclosures is only going to keep going up in the short run. My gut feeling is that banks and other lenders will be stuck with a great many properties that they will want to unload quickly. This represents a real opportunity for the serious investor with money to spend and a desire to acquire a lot of properties either for renting or fix-up and flipping.