Posted by Jim C on November 09, 2000 at 21:28:03:
If there are that few of buyers, then you should probably be able to get a really good deal on a house, but make sure that it is a REALLY good deal. Then maybe you can sell it yourself for less than what it’s worth so it’ll sell a little quicker, but if you do that, be prepared to hold onto it for a while. If you don’t want to do that, maybe you can rent it out or Lease/Option it to someone.
It doesn’t matter what type of market you’re in, whether it’s a buyer’s market or a seller’s market. There is always going to be pros and cons of any market type. Right now it’s a buyer’s market for you, so maybe the best bet would be to buy a few houses, rent them out for a couple of years, and then sell when the market turns into a seller’s market. You will be set then.
I’m new to all of this myself, but I just figured I’d put in my 2 cents.