Florida Home Buyers and Investors Blog

Well my assumptions were correct and confirmed by every Real Estate professionals I spoke with.  The banks were holding inventory, but for what reason, we still cannot explain other than what was previously discussed in earlier posts.

Well the gates are opening, although slowly, but we are seeing more Bank owned inventory hit the streets after a 4 month hiatus.

Seems maybe the Feds figured out what was going on and told the banks to start liquidating.

There are some excellent deals, unfortunately a lot of buyers all bidding on the same inventory.  I have been trying to purchase several properties over the past few weeks only to come up empty handed due to being outbid.

The only way a buyer coming to the table with financing is going to get a bank owned property is to pay more than a cash buyer, and be ready to close in 2 weeks.

We are buying homes on 1 acre lots in West Palm that once sold for $319,000 for under $100,000.  Lots used to sell for over $200k that can now be purchased for less than $60k.

Condos that were once $180,000 are now $55,000.

If you don't see opportunity knocking, go invest in the stock market.  I would rather have a hard asset than a piece of paper telling me what's in my account.

Now get out there and start making some serious money!