I agree with LA_Renter.For all those people on this site that have been wondering about why the better areas have not experienced much trouble yet, check out Mr Mortgage’s web site. The Pain Train will be pulling into their station soon. The big money loans made in the last 3 years are starting to crack in a serious way now. So check you local listings for any properties that were purchased in this time frame. Could be some opportuities there.
And in today’s new: RE investors that want to purchase homes and then rent them out are running into a wall for financing. Turns out banks now have no stomach for making loans to people who have two or more outstanding mortgages. So, you better have cash. Oh, this puts more downward pressure on prices, incidentally.
