It is a dicey market out there - lots of banks are closing their doors and getting financing is no small accomplishment. Realtors are making little or no money since the market has changed, but those who are focused on REO's are doing just fine. REO inventories are climbing rapidly - we need to understand what that means for us. Our SJREI meeting on Thursday will feature several succcessful professionals who will address these changes and share ideas on how we can navigate those successfully as investors. We will also discuss areas that are hot and areas that are not, and present the numbers and facts so that decisions to invest are made based on good solid data.
Check out the first article below - commuters are no longer willing to commute to work, it costs too much. Those houses purchased in Modesto and beyond are going into foreclosure and the occupants are moving back to the Bay area for jobs. Gas prices are a key factor in this decision. As investors we need to understand the dynamics of why we are buying? What are the economic drivers in the area? Who will our renters be? Where are the job centers? We will address all of these and more at our meeting this week. We hope to see you there!
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Real Estate in the News:
Foreclosures forcing commuters from San Joaquin Valley back to Bay Area, The Modesto Bee
Tuesday, August 5, 2008
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