Investor OUTLOOK

Investor Outlook
by Kenneth R. Harney
If you're what's known as an "opportunity investor" in real estate, looks like your prime time may be now ... or very soon!
Economists say the next 12 to 18 months could be your best period since the early 1990s to pick up property at depressed prices -- discount diamonds in the rough and turnaround situations.
That's because the real estate downcycle is close to running its course in many local markets……………
Read the entire article at:
http://realtytimes.com/rtpages/20071129_investoroutlook.htm

Considering a real estate purchase in the next 6 months and want to get a great deal on distressed property?
Here is a key strategy to ponder:
Some buyers consider sheriff auctions. Unless you are a seasoned investor buying multiple properties and can afford to sometimes loose, avoid this avenue.
Instead, consider this approach: banks are buying back their collateral at the sheriff auctions in hopes in increasing the price and reselling. Find those properties. You can negotiate, you can include inspection contingencies (no contingencies on Sheriff’s auction properties) and a patient buyer can buy below the auction price.
Real life examples: US Bank bought back at Sheriff auction at $130,000 in August and is currently asking $124,900 in Westerville; Countrywide bought back at Sheriff’s auction $249,965 in August currently in contract for $225,000 in Powell.
The big difference between the current real estate market and past depressed markets is that – interest rates are very low and money very available – not true during past downturn markets. This is great news for investors and those looking for a place to live.
Want to know more?? Email or call us.

Jim Lubinsky
Mary Williams
Re/Max Affiliates
614-766-5330 ext 119