I agree that now is a geat time to buy, it may even get better, which is great on the front end and not so great when you're ready to sell. Flipping properties can still work, if you buy right, fix up right and are willing to hold that property longer before it sells but you may also want to consider other approaches to investing at this time.....there is never a bad time to invest in real estate, just better times than others for using different techniques. You need someone to sit down with you and look at what might be the right approach based on your goals and capabilities...Let me know if I can be of service!

Angela Faulkner, Broker
Principal First Realty
863-709-1735

I heard Bob Brinker, nationally syndicated radio talk show host of "Money Talk", state to millions on the air Sunday, "Asking price is now irrelevant!!" He cited a national builder who had reduced all of their new home communities by 25% across the board for a special national open house. That being said, what then is an offering price? This is espeically true if one is considering a "flip" though for the life of me I can't see how this word can even be uttered today!! I remember speaking to a lawyer who specialized in writing large bond offerings for cities considering redevelopment issues. He did this throughout the world. He was working in Tokoyo many, many years ago and told me investor's where buying property there for pennies on the dollar. In the same breath he looked at me over his glasses and uttered, "you'd be surprised how fast you can be ruined by property for pennies on the dollar!!" I think investor's with cash in this market can make some great purchases but I'd be buying in areas where "Short-Sales" and NOD's are NOT rampant as this type of neighborhood over the long haul may NOT be a good investor market. Think long and hard about this one!

I agree with both the other answers. Now is a great time to buy but you may want to hold it for a little while to get the best bang for your buck.

Now is the time to buy and hold in Lakeland. Now could be a good time to flip only if there is substantial equity, which is true in any market. The prices have come down considerably in the past few months. An investor must have an understanding of the local values in order to successfully flip homes in this market in Lakeland.

Chewie,

It is a great time to buy homes in Lakeland. It is a strong buyers market with all economist in the area feeling that we have bottomed out and actually began a slow rebound. The area the local banks are no longer considering this a distressed market for the reason that they are seeing the "pendings" slowly picking up. The problem with flipping is how long you may have to hold on to the property before the market gets high enough for you to earn a considerable profit. If you have the extra money where it will not put a stress on you to hold on to a house for a year or two then go for it. Now is deffinately the time to buy!

Good Luck,
Linda J Sears
Realtor
Coldwell Banker Ellison Realty
(352) 205-0713