It’s true that the economy hasn’t bounced back the way we all hoped it would. One thing I know is that there is always a diamond in the rough. Those of us who have decide to soldier on are finding that adapting to the current situation might present new opportunities that were previously unseen. What I do know is that there are people still making sound, productive financial investments in real estate. If they can do it, why can’t you?
Start with analyzing your local market. Yes, turn on the news and the national situation is terrible. Your local market may not reflect what’s going on nationally. The inventory in Lakewood, Ca has been decreasing for the last few months. What does fewer homes for sale mean? Less supply with the same demand equates to higher property values. The appreciation (increase in home values) may be minimal but property is definitely not going to depreciate (decrease in value) if inventory continues to decrease. This is just one example of local markets not reflecting whats going on in Detroit and Atlanta.