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September 05, 2007

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There are very few markets that are truly "up" right now, and the few that are look to be headed for a fall soon.

Many of those that appear to be "up" take on that appearance because of the ratio of high-end to low-end houses that are selling. The same house is cheaper (especially when incentives are counted), but those on the low end can't afford to buy with tightening lending practices, so the median home price shifts up even as individual home prices fall. (Read seattlebubble.com/blog for graphs, charts, etc. Pay special attention to the Aug 19 post.)

The market isn't very good right now, but if you can afford it, now would be a great time to pick up some rental property.

Demand for mortgages is down, which means that demand for rentals is up, also prices and incentives are now more favorable for cash flow.

Best,

James

An upturn in volume precedes an upturn in price so have plenty of patience.

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