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As we continue to defy the national downward trend, our inventory is growing and qualified buyers are buying. The real value of investment property is realized by those who have the credit to buy. The strength of the rental market has given investors the opportunity to capitalize on the foreclosure market, often realizing double digit cap rates.
With interest rates and market conditions favoring buyers, there are some amazing deals to be had. Even people with bruised credit are seeing the potential of a down market. I personally have made some purchases and have been happy with the porjected return, based upon a 3-5 year rent-and-hold exit strategy. I would encourage anyone looking to invest in this market to review the economic indicators that support my assertions, and feel free to contact me with any questions.
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Cyrus, Just today I heard some "expert" on the radio today saying we've hit bottom and we will now begin recovery. In the meantime, there are amazing deals that we will look back on in a few years and wish we would have bought. I'm glad things are going well in your neck of the woods.