Investing in real estate successfully when markets are cooling takes different strategies than when real estate prices were going through the roof.
Here is some advice for investors:
- • Go where land is scarce
- . In some neighborhoods, land appreciates faster than others.
- • Look for properties that have been on the market at least 90 days and offer at least 10 percent below the asking price.
- • Invest for income, not capital gains.
- • If you’re selling, be quick to adjust the price if offers are scarce.
- • Do your own marketing, including telling your 50 closest neighbors that the house is for sale.
Our next article will discuss how to prepare your house for the inspection.
This piece is part of The Today Series©2009 by Cathleen V. Carr All rights Reserved