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We bought our house ten years ago when real estate was at a good price (THANKFULLY!)
We had meant for it to be a flip but baby number one, then baby number two came.
We even refinanced (you know everyone was doing it) to pay for the babies.
Then the market crashed. Luckily we aren’t upside down like most people but we aren’t going any where.
There are neighbors of ours that are OVER $100,000 in the hole with their homes.
Many have just walked away some and just know it will be a long long time before they can move.
Prices have dropped so much that houses are as cheap or even cheaper than they were 10 years ago before the
big bubble. Many banks are stuck with these houses and just want to get something out of it. I’ve seen fixer up houses for as little as $35,000. It makes me wish I had some extra money. I’d buy some as rentals. Since they are that cheap I wouldn’t care too much if the renters destroyed them.
Are you currently looking for a home? This is the perfect time to buy.
I am participating in a blogger campaign by Bucks2Blog for St Louis Real
Estate and was compensated. However, the views and opinions are my own.