I'm a new starter, still waiting for my BREM book to arrive - I'm studying these forums while I wait, heres my question:
As the housing market is still in free-fall, how can we use comps when calcuating what offer we should make ?
I should mention I'm planning to buy a property to take cash out at closing and keep it for the rental income.
It seems to me the deal might seem to be a good one using current comps, but in 1 year's time the property value might be $150,000 lower, and suddenly I'm underwater on the deal ?
Thanks for any suggestions.