06-24-2008, 09:17 PM
Bottom is very subjective in the current RE mess, some believe we're only a third of the way through the subprime debacle. Which means at least another 750+/- bad paper and more write downs.
As long as the dollar is down and the euro is up, it makes for a good investment for foreigner's.
Foreclosures are way up in certain areas, and will depress the sales price in those areas.
If you know any working RE persons ask them to get you a years worth of sales prices for the area you're looking at.
Just compare the number of bedrooms, baths, school district, and average those out. It should give you an average sales price for that area and a place to start your offer at (offer 15-20% less then the asking price and feel the sellers out.)
As long as the dollar is down and the euro is up, it makes for a good investment for foreigner's.
Foreclosures are way up in certain areas, and will depress the sales price in those areas.
If you know any working RE persons ask them to get you a years worth of sales prices for the area you're looking at.
Just compare the number of bedrooms, baths, school district, and average those out. It should give you an average sales price for that area and a place to start your offer at (offer 15-20% less then the asking price and feel the sellers out.)
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