Several years ago, right after I purchased my home after a divorce, a housing boom made its way into the American real estate market. Housing prices soared as interest rates fell; sellers had the opportunity to evaluate several offers at a time on one piece of property; buyers scrambled to purchase the home of their dreams before interest rates rose again; some sellers even had bidding wars going on over their property.
All that has changed now! The sellers market has turned around, and many of those people who were so willing to pay top dollar to get the house they wanted are finding themselves in financial woes. It is now a buyers market as houses all over the country sit with for sale signs in the front yard for months and even years at a time. Asking prices are being slashed to the bare minimum; the number of foreclosures is at an all-time high, and economists predict that the number of foreclosures is only going to increase for quite a while.
Regardless, real estate can still offer a decent return on investment if you take advantage of the market conditions wisely. One way to do that is to venture into foreclosure home investment.
Whether you want to...