If you are interested in taking advantage of the low prices in this market, maybe you should look at Bank Owned properties.  The advantage of Bank Owned vs Short Sale is the process.   In general, Bank Owned purchases would be handled similar to a situation when you are working with an individual seller.   The sale is still negotiated with a bank as the owner, however, you are not in the middle a short sale process.  A short sale process is a combination negotiation between bank, current owner, as well as A LOT of time spent waiting.

Remember, with prices and interest rates this low, qualified buyers have an advantage to get into this market.  For first time home buyers, it is a time when the prices are low enough that your monthly house payment is competing with (or very close) what you pay for rent.  A first time home buyer could now begin to gain equity in a home instead of wasting the monthly rent payment.

Also, the tax credit for first time buyers is offering up to $8000 assuming you purchase by Dec. 1 2009!  This is an incredible opportunity for anyone who qualifies for this credit.

For investors, now is a time to pick up the rental property where the numbers make sense!  

Please contact me directly if you would like a copy of the latest Bank Owned Property in Pierce County.

Brenda@BetterProperties.com  (email)

253-222-3503 (Mobile)

http://www.brendaworks4u.com