That’s for the savvy real estate investor who likes to forage for those hidden gems.
How do we know?
The Standard & Poor’s/Case-Shiller Index is pointing in that direction.
As we know, many experts follow this index to determine where housing is really going.
Here’s what we’re gleaming from this very important tip sheet.
Consumer confidence is down slightly. Fell a little in September.
People are still afraid of losing their jobs.
That means people will be more reluctant to become new homeowners.
Also with the $8,000 tax credit ending, Team Obama will have to come up with some new trick to get people to buy.
Cash for Distressed Properties, perhaps?
But here’s the important tip.
Foreclosure sales will increase.
Many investors welcome that news because we like to buy below retail.
Banks will begin selling more foreclosure deals now after holding back over the last few months.
As we’ve stressed before, banks hate being landlords.
Does all this mean those so called mitigation departments will start returning your phone calls?