pre-foreclosure investing
Is the market still ok fore real estates? especially pre-foreclosure homes?
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.
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.
Pre-Foreclosure Investing Video