As most of you are aware, the housing moratorium is lifting on September 15, 2009. This is a key date for investors who have markets where they can buy, rehab and sell right now. It means that if you're doing this type of investing, you want to make sure that you have that house rehabbed and flipped before the flood of foreclosures hit the market again. Otherwise, you could find yourself stuck renting out that rehab. In addition, if you're making offers on properties with the intention of selling in 6 months to a year, you might want to rethink that strategy. You're going to be competing with the banks. I am not saying to stop your investing, I am saying be cautious for the next month or two. You might be getting a great deal this month, but find you've paid too much next month. DG in BARM talks about knowing your market. It is very important to know which cycle your market is in. Where the "hot zones" are, where the "hidden" gems are, when inventory is low and when inventory is high and at what price point houses are selling. And finally, who your competition is. Research is important to the savvy investor. Two sites that can help you keep track of market data in your area are www.mgic.com and www.altosresearch.com These sites are free and give you a good idea of where your market is right now. I really like altosresearch because you plug in your city and get 3 tiny graphs letting you know the median house price for your city, the amount of inventory on the market and days on the market. All of this is very important information. In addition, you should be utilizing DG's www.totalviewrealestate.com to help with comparables and www.realquest.com Arming yourself with this information will put you ahead of your competition.
Never become so much of an expert that you stop gaining expertise. View life as a continuous learning experience. – Denis Waitley