Foreclosures are still setting the market prices .
If you have the ability to invest in Real Estate now is the time. You can buy something for much less than you could build it for.
I expect the rental market to be strong for the next several years. Everyone that has lost a home to foreclosure still needs a place to live. It will take them several years to rebuild their credit to the point they can buy another home. Many of them will be excellent tenants.They are good people who through no fault of their own lost a job and had to take something making much less than they were making. They will take care of the rental home they are living in and they will pay the rent on time.
Land prices have fallen like a rock. If you do not want the hassle of owning a rental home but would like to invest while the market is down look at land. I am seeing prices much lower than they were when I started in the business back in 2000. When the bulk of the foreclosures are sold and there is a demand for new construction prices should come back up. Just keep in mind you will have to sit on the land for several years.
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