Just wanted to get peoples views on where the market is at the moment. We have seen a big drop in the last 12 months but does anyone think we have reached the bottom yet?

I am buying up houses at auction for as low as $5000, I would not expect prices to get much lower than this.


Brian

Not yet!

More banks look like failling in the US first

have a read of my other totally Property post

also visit Rockefeller Treasury Services - Futures FX Trading for Currencies and Foreign Exchange

Barbara is a great economist and independent - it is a foreign exchange report but her coverage of the US Subprime market has been excellent

__________________


Damian George

Buy Euros - Best Euro Rates

So you are telling me that the property I have bought at auction in Ohio for 10.000 dollars is going to crash in value.
The average sales price in 2007 was over 100.000 dollars.
This is the time to buy if the price is right.

Personally i dont think there is a large amount of profit to be made at that end of the market. If you cant rent it and the buyers cant afford to buy who will so you can make a profit? Think this will be a slow burn investment plan.

The States property market is in a lot of trouble and doent look like improving soon - same with the UK -

Banks are not lending money this is the real problem.

__________________


Damian George

Buy Euros - Best Euro Rates

I just sold a house for a 400% profit.
There is still a good demand for rental property. If you make a little extra effort in improving the property nice kitchen and bathroom you can rent it out.
Ive only been doing this for about twenty years, so I must be doing something right.

It is tough and seams like you are doing well! It is not a area i know alot about but please share more details

__________________


Damian George

Buy Euros - Best Euro Rates

Looks like I need to stick in here for the long run then.

Just buy at the right price. Do not over pay. You can still get good rental returns on property. Its just not going to make you a fortune just now. Im putting together a website of very cheap USA property.
If anyone is interested in marketing them get in contact.
Im the owner no agents or dodgy deeds.

Brian

Hi Brian,

Not being funny but the USA and Forida already have a web site full of cheap property, its called the MLS.

The problem in the US is not only the falling prices but also the lack of mortgage funds.

If you have to put 40% into a home how is it a good investment.

the US has a long way to go to correct this problem, so far every strategy they have tried has failed.

__________________
Living down in Panama and Loving it!
Http://www.afloridarealtor.com
http://www.knightsbridgeinvest-panama.com