You are correct on all points, find the area you like, the school you like and rent, there are going to be some good times ahead. I use foreclosure.com, some use foreclosure radar, I can tel you that about two months ago the nods, nots and sheriff sales ratcheted up significantly. I’ve checked them weekly for two yeas but never saved the data. The amount of trustee sales seemd to double in any given week over last year’s, they update them sporadically so it looks like a bunch in a day (so just look at the week overall) and they miss quite a few but comparing their somewhat reliable data to their somewhat reliable data from before, I’d say there are twice as many in the pipeline now compared to a year ago. The mid 4’s to the mid 3’s is an easy jump and very realistic, even now the mid 3’s can get you almost anything if you look hard enough. I did a similar thing, I have a set housing budget and price target, as things go down my options go up, it’s now to the point that a condo two years ago will get me a mcmansion today, I have reached the point of diminishing returns, further price declines no longer move me into larger or better neighborhoods, I’m already there, now it just lowers my mortgage. What are you looking at in the 4’s?
