What will a bottom look like?

May 24, 2009

Maybe what is happening in Phoenix gives us a clue.

I know from my friend Tom that it’s happening in Ventura, CA: He’s been putting offers on foreclosed properties the last two months but investors, cash in hand, keep snatching them.

I wander just how widespread this is.  Investors are looking for cash flow, sometimes even renting to the foreclosed homeowners.  So we probably won’t see this in communities with the highest unemployment numbers.

One Response to “What will a bottom look like?”

  1. chacha Says:

    It’s happening down here in north county San Diego. The foreclosures are getting snatched up – I read that the sales volume right now is 4 times the norm. Prices have dropped so far that you can make money via rentals (like $200+ per month in revenue). I would do it, if I could. I was considering it until we both lost our jobs.

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