My Last post focused on buying below market value(BMV). One way to ensure you are doing this is to actively seek out foreclosures. The market is at the bottom in many areas of the USA at the moment but with experts predicting a turn in the market at back end of 2009, you need to strike while the iron is hot.
In fashionable areas such as the Hamptons in New York, it is now possible to pick up a beach house for less than $300,000. This same property was almost double the price three years ago!
These types of deals will not last for long. The market is definitely picking up and house starts in the USA increased in February by 22% from January. This brought an end to 18 straight months of decline.
If figures rise again for March, my guess is that investors with access to funds will become quite active and you need to be with these if you want to get the best deals. Do not wait for the masses to enter the market as by then it will be too late!