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02-04-2008, 10:59 AM #1
Fixer Upper
- Join Date
- Jan 2008
- Posts
- 86
That depends on your goals with investing. If you are looking at a long term investment then yes it is probably a good idea to invest now while prices are low. If you are looking to make a quick buck it's a different story. I'm not saying that you can't flip houses right now, you just need to be aware of some things. It might take awhile to sell, which means multiple mortgage payments. You may not get what you feel it is worth (your example of the house for $330,000, you may not get that). If you educate yourself on the risks involved and the deal still looks worth it to you, then go for it.
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02-04-2008, 12:11 PM #2
Fixer Upper
- Join Date
- Jan 2008
- Location
- Davis CA
- Posts
- 31
I'm in Davis, but I have clients who are looking to buy throughout Sacramento. There seem to be really good deals in certain areas and maybe now is the right time to pick up an investment property. The bank owned properties that are considered the best deals are getting multiple offers. I had a client lose out to an all cash buyer and the house is now up for rent.
We are being told that there will be even more bank owned homes on the market in the summer and not to expect things to get much brighter in the spring. Davis is a completely different story, but it is a great time to get educated about the market and to watch what is happening with the foreclosures, because they are driving the majority of the market.
What areas of Sacramento are you looking in? Let me know if I can help you with anything.
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