Posted by phil fernandez on November 04, 1998 at 18:48:37:
Well said Stacy.
any depressed mkts on the verge of a rebound? - Posted by austin
Posted by austin on November 04, 1998 at 11:36:15:
I had serveral friends that bought houses and duplexes in austin,tx and denver,co. about 6 years ago. On average if they bought a property for 60k, they were able to sell it recently for over a 100k.
Here’s my question, wouldn’t it make sense to invest in cities that have been depressed that are now getting ready to rebound? Seems like a no brainer.
Also, how do you find out what cities are on the verge of rebounding? Thanks for any advice (I’m new at this)
Re: any depressed mkts on the verge of a rebound? - Posted by Bill Gatten
Posted by Bill Gatten on November 06, 1998 at 15:23:05:
I would like the answer to that one too. However, the “rebound” part isn’t a prerequisite. In our business we look for areas experiencing a depressed real estate market (we show people how to dispose of mariginal equity, no equity and overencumbered homes using the land trust as a conveancy vehicle).
Good question. Keep me in mind if you run across anyone who knows where the tough spots are.
Re: any depressed mkts on the verge of a rebound? - Posted by Kevin(OK)
Posted by Kevin(OK) on November 04, 1998 at 22:53:16:
I am finding that there are “depressed” markets within “hot” markets. Many locations in my city are just beginning to rebound. Look for these.
Re: any depressed mkts on the verge of a rebound? - Posted by Stacy (AZ)
Posted by Stacy (AZ) on November 04, 1998 at 12:03:42:
Austin, there is no crystal ball for projecting market cycles, including real estate. There have been several posts from seasoned investors that warn against attempting to predict these cycles. The consensus seems to be that there is money to be made in every economic condition, and that the most prudent path is one where we are armed with the appropriate tools to make the correct moves in each cycle. Tools = learning. I’m new at this, as well, but it makes sense to me. Banking on market predictions seems too risky.