We are currently in a very strange real estate environment. Markets across the country are in various stages of economic recovery. Some markets have almost no inventory while other markets still have too much inventory. Pittsburgh, Pennsylvania has pretty much gone through even its bank owned inventory. 5 years ago I could find 3,000 properties in foreclosure in the Western Pennsylvania MLS system. Today I can find maybe 300. In Hampton Roads Virginia, arm’s length inventory is a little tight but there are still a lot of REO’s to churn through and even more short sales. In Southern California and Phoenix, Arizona properties are flying off the shelf and values are climbing in the double digits.
If you are a seasoned investor or you are on your way to becoming one you really don’t care so much what the inventory is like as much as finding the best properties at the best prices relative to the market.
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