Want to get into real estate but waiting for the bottom. I live in Orlando where they said last month they had more forclosures than any other month . So how can you tell when a bottom is close. I figure you make some formula with forclosers per month houses on the market listed Amount sold for month i gues it all comes down to supply ( forclosures, houses on the market) and demand (amount sold per moth) . May be make some sort of graph and when supply and demand line meet that should be the end . Any suggestion on how to look at this ?
You might want to wait a year. A buddy of mine just got named Pres. of a local bank. I'll wait a year, then get with him for a rolling line of credit to snatch up all the foreclosures I can eat at one sitting. I figger when a couple houses near me in TX are abandoned and the banks can't unload them it'l be time.
Well the bottom is not going to be a V bottom like in some equity charts. Prices will bounce around for a bit at the bottom, you'll have plenty of time to get in. My guess is mid 2009 before we see any uptick in prices.