Some people are wondering if the worst of the sub-prime storm has passed us by. Maybe. Here's the bad news... if the worst of the storm has gone by, there's still plenty of storm to come.
Check out this slideshow from Business Week. California foreclosures are up 286% from last year.
In other words, the big money is running away from the home loan business. That means lenders are dying off, and in turn, that means many buyers are having a hard time buying.
Bad news for the credit challenged buyer, and bad news for a seller. But it could be great news for you.
If you've got the nerve to buy when prices are low, now's the chance. Between desperate sellers and rising foreclosure rates, this could be one of the best times ever to buy investment properties. That's not a game for everyone -- but if you have some money to put down and if you have strong credit, you're not going to find a better time to scoop up some bargains.
TIP: Be particularly on the lookout for single-family houses or duplexes. Fourplexes are riskier loans to lender, and they carry a correspondingly higher price.
If you'd like see if I can get you into some investment opportunities, give me a call today at 913-754-1001.
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