Are you a "saver"? Have you always lived conservatively within your means? Always setting a little aside for a rainy day? Built a strong credit history?
Today's housing market may have some investment value to you. You are exactly the person these skittish banks want to lend money to these days. Home prices are pretty flat and there are Sellers needing to move NOW. Foreclosures are producing tenants who need a home for their family to rent while they straighten out their finances.
If you chose to invest in real estate during this time, keep your good financial habits. Be conservative. Be willing to make several offers in order to find the right motivated Seller. Make a substantial down payment resulting in a mortgage payment that will be well covered by expected rent. Plan for unexpected repairs. Be prepared to hold this investment for 2-4 years -- not 6 months.
We all have our biases and mine is that Loveland real estate will be back strong as ever. I'll be here!
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