Are new home builders discounting units in established projects?
If so, that’s good news for new buyers but bad news for previous project investors. In general terms, less new construction means more housing demand if the local population is growing. 4. What are the rental rate and vacancy trends in your community? In some situations home prices are falling but rents are going up. This is happening because while homes are cheaper, many would-be buyers can’t get financing so unit sales are dropping. At the same time the number of potential renters is expanding in part because several million people have been foreclosed and now need to live somewhere. 5. What foreclosures are available in your area? Check the RealtyTrac listings for details. You may be surprised at the number of available properties in even the most expensive areas. 6. Can you do your own repairs? Some of your own repairs? It always pays to have good relations with licensed trade people such as plumbers, electricians, home inspectors, pest controllers and contractors. With some proper
