Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tom M who wrote (9042)	2/19/2003 11:51:56 AM
From: GraceZ	Respond to of 306849

Anyone have any good rules of thumb for the auction time frame? Back in 1993 a friend came to me who had inherited some money. He knew we owned investment properties and he wanted my advice about doing some bottom fishing real estate in the city. At the time I was feeling like a class A sucker left holding the bag. I told him that real estate, especially real estate in the city was one of the worst places for him to put his money and I would sell my properties if I could get anything for them. He didn't listen to me and bought several houses at extremely attractive prices (looking back). Turns out that conversation marked the exact bottom in real estate in the city. The good news is he didn't listen to me and I didn't listen to me and held my properties. Not unlike the stock market, around the time when you think real estate is the worst place to put your money, it turns out you should be buying with both fists. Right now people still want real estate, they want it cheaper, but they still want it. Start looking at it when no one wants to even talk about what they paid for their house and what it's worth now. As long as people are selling books on how to buy properties in foreclosure you can forget getting any deals there.