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Thread: Is it time to invest in US real estate market?

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[quote=DESTRUCKDOZ,343340]Hey Whats up,

Right now is not exactly the best time to invest in US real estate. For the past few months I have been looking to purchase a new home and although the news tells of a real estate disaster taking place in America, it only applies to homes in the median price range, and that is if its an REO, and your qualified with a pre aprove letter in hand. Million dollar homes are of some value but it does not come out to much savings. For example, Million+ homes are lost by those who were not financially savvy enough to understand that they could not afford such a grand home and those who own businesses that have failed because of the economic downturn and these homes are put back on the market for 40% off market value by a real estate agent representing a certain bank. With this strategy, a 3 million dollar home is now about 1.6 which draws in a huge crowd of 25 people, (myself included) bidding on this home in which the home closes for about 2.6 million which in turn gives the lucky bidder a 400,000 less than market value. BUT, million dollar homes usually tend to have serious damage left by the previous owner, higher probability if it was an REO less if it was a short sale. So in turn, the only value really is in the median priced homes. But, If the next wave of real estate troubles does come true (commercial real estate) than that may be something of real profit to invest in.[/quote]

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