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NYC Chick asked:
With property foreclosures on the rise and home prices either declining or at a stand still in most areas, what are your thoughts on the Real Estate market over the next year?
With property foreclosures on the rise and home prices either declining or at a stand still in most areas, what are your thoughts on the Real Estate market over the next year?
Tags: Property Foreclosures, Real Estate Market
August 11th, 2007 |
August 14th, 2007 at 7:06 am
Prices will fall and the market will be slow at least til the end of 2008… recovery will probably begin in 2009.
August 14th, 2007 at 7:44 pm
prices on homes are going to stabilize and financial institutions are going to review the loan products in the market and adjust the requirements to protect themselves.
August 17th, 2007 at 7:01 am
A phenomenal time to buy. I wish I had an extra 10-15 million in my pocket right now….
August 20th, 2007 at 3:34 pm
Since lending requirements are virtually changing everyday it is going to become harder for those with lower credit scores to purchase homes in the future. This will effect the housing market because not as many people as in recent years will be approved to buy. Thus, the market will slow down and we will probably see a decline in prices within the next year.
August 23rd, 2007 at 7:41 pm
Well, with those two conditions, there’s a prime market for tax liens. You can make 18% interest or more depending on the state that the tax lien is placed on. Let’s face it, when times are tough, property taxes get ignored and interest and penalties are placed on those properties by the government.
Investors like me come in at the request of the govt and pay for those taxes and we get paid the interest and penalties plus our principal when the house is sold, or foreclosed by the lender. Nice way to make a buck, eh? You get to pay for someone’s elses taxes and help pay for 911 services or put up the new school building that the county’s been wanting to have.
Some suggested reading if you want to learn more about making money in tax liens:
Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days [ISBN 0978834682] by Don Sausa
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