May 24, 2008

Philadelphia Real Estate Investing: The Time May be Right

Listen to all the bad news reports. It's the worst time since the Great Depression to buy real estate, right?

Not so, according to some individual investors, who think the market slump has made selected areas more desirable than they've been in years.

While many buyers, whether potential residents or investors, are staying on the sidelines, largely from fear that prices will continue to plummet, some private investors think there's no time like the present to take advantage of a market in freefall.

Overall, homes sales have plunged to record lows. However, the percentage of investors in the market is edging up, according to DataQuick Information Systems, a real estate information service.

Real estate investors should not expect a return to the no-money-down days, which means they already have cash on the line as soon as they buy. But remember what Warren Buffett says, "the fact that a market is not turning around in the next year isn't significant. If you wait long enough, the market has always gone up since the days of the caveman."

What do you think? Is now the right time to invest in real estate? We'd love to get your opinion on that. Go ahead and click the "comment" link below and sound off.

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