Monday, September 29, 2008

Foreclosure Haven't Hit Rock Bottom Yet! You've been warned

If you've watched and read my blog over the past few years, you would've seen that I called this mess a long time ago.

I know and predicted that Fannie Mae and Freddie Mac will be hit hard.
I called the booming market being a false bubble.
And I predicted the huge foreclosure increase.
And they all came true... Unfortunately.

Now what?
The mess is a crisis and is not behind us by any stretch.
It will in fact get worse before getting better.
All depending on what the market perceives the bailout to be - Helpful or Harmful.

I believe the bailout will pass this week.
I also believe that the financial markets will survive this mess, albeit, hurt real bad.

What to do?
Look for deals in high density residential areas.
Be sure to see it on the heat map.
Make sure you're buying from a REO department of a bank.
Make sure to offer them at least 20% below lowest home prices in the area.

This is the recipe for success.
When to buy?
I would start looking for some awesome deals now and to continue to the first quarter of next year (2009)

Keep reading my blog for more insight to what's coming to the economy after the elections.

Visit Home Foreclosure Investing Blog to read Experts discuss Investing Strategies and tips guanateed to improve ones forclosure buying skills.

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