Best places to buy foreclosed homes

[Qacer]

From Forbes:
http://www.forbes.com/2008/03/19/homes-foreclosure-properties-forbeslife-cx_mw_0319realestate.html?feed=rss_popstories

Tampa gets a special mention.

[Joe]

That same author also gave Tampa special mention in this article...

http://www.forbes.com/realestate/2007/06/07/housing-trough-resilient-forbeslife-cx_mw_0608realestate.html

[Greed is Good]

From your link joe

Tampa is a perfect candidate for a V-shaped recovery, according to research from Moody's Economy.com, an economic analysis, forecasting and credit risk firm. The local economy remains strong, and subprime lending is relatively low. Tampa's problem? A high investor share that lead to high vacancy rates. When the market turned sour in 2005, more than 25% of Tampa homes were owned as investment properties. Investors are quicker to flee during a downturn, thus creating a glut of available housing stock. In Tampa's case, vacancy rates now stand at 3.5%.
As investors exit, the market revives," says Mark Zandi, chief economist at West Chester, Pa.-based research firm Moody's Economy.com, as fewer speculative buyers results in a more stable market. "Tampa's a pretty affordable market and first-time buyers can come in once prices fall."
Tampa should burn off its excess inventory and hit a price trough in the first quarter of 2008, at which point prices are expected to increase by 10.6% the following year.

So where is this V shape recovery at? I don't see one Latest trend shows prices still declining, still rising inventory and rising foreclosures.

[nipster]

In Tampa's case, vacancy rates now stand at 3.5%.

I would like to know where they got that figure from. They must not be counting all the vacant spec homes in south hillsborough and pasco and all the vacant tower condos in tampa

[Joe]

I was showing that I wouldn't put any value into anything said by that author...

Kind of the same value that GiG adds to this forum... :lol:

[MianoSM]

point prices are expected to increase by 10.6% the following year.

So where is this V shape recovery at? I don't see one Latest trend shows prices still declining, still rising inventory and rising foreclosures.

I think they are trying to say we're still in the plummet side, with Q1 being the bottom tip of the V. a 10% increase from Q1 08, to Q1 09 would be just as bad as all the garbage that has been going on already though. What happened to the nice and steady 3%?