Now that the market is down, I seem to be getting more inquiries from investors looking into where the next best opportunities are. For long term investment, Reno is still fabulous, though I would probably watch the market for a few more months before jumping in, as I personally think prices will come down some more. But there are other places in the US that never experienced a crazy boom and are excellent places to invest. Where are they? This study tracking loan originations provides some interesting clues. read it
And while I’m on the topic of investing, here are a couple of favorite online resources:
Creative Real Estate Investing Online – A fabulous free source of articles, events and helpful discussion forums for investors.
Dealmakers Cafe – Also a great source of articles, reports and answers.
gotlots
It took the cheap money easy credit bubble 5 years to inflate (and with it the resultant housing bubble), and it’s going to take more than a “few more months” for it to deflate. Now that the mainstream media is on to the coming meltdown, greater fools are harder to come by. Anybody who buys into the Reno market for the rest of this year and well into 2007, however, might qualify for the moniker.
Inventory in Reno has quadrupled since the summer of 2004. Now unless about 4,000 sellers decide to take their house off the market, its going to be a very cold winter in the Reno real estate business.Especially in the resale sector.
If one is looing to lock in declining value, there has never been a better time to buy a house in Reno.