I'd keep your eye out for a deal on land through the winter. If the right deal comes along and you can afford to pick something up and hold it until 09 to start building, do it! But make sure you get what you want, at a price that makes sense in this market. They're are some great deals out there on land in this market. Many builders are trying to unload their inventory of bare land.
Your best scenerio is to buy before everyone knows that we've hit bottom, and sell after everyone know. Buy Low, Sell High! - Sat May 3 2008, 08:57
Lease Options are becoming more popular these days, but most sellers are wanting a substantial amount of Option Money. I just put a Lease Option together that is scheduled to close in 1 year. This is pretty typical in this market.
If you can get a loan, there is no reason to do a Lease Option. You get great write-offs with home ownership, and this alone makes it worth buying for most people. There are great deals out there in Bend right now, you just need to be ready to pounce on them. - Sat May 3 2008, 08:45
Sunriver is a solid market. It's a vacation destination for the entire Northwest. If you have the means to buy right now, keep your eye out for the right property. Then do your personal due dillegence and make an offer. If you wait too long you may miss the bottom.
There are some great Short Sale and Distressed Property opportunities out there. You just have to find them. If you go this route, you need a representative who can negotiate with the bank. The banks are hard to deal with, and "time is of the essance" means nothing to them. Distressed properties can take months to close, but you could find the perfect deal out there. - Sat May 3 2008, 08:39
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.