It is a buyers market, and interest rates are still historically great! The loan terms are tighteneing, however. Last year you could get a loan for 95% or more, now it's down to 90%. The doors to easy money are closing fast, with many rehab and mortgage companies going under. Rehabs, which have been very lucrative, are going the way of the dot com's, falling in value, with too many trying to sell. So yes, there are awesome opportunities to BUY and HOLD now in the city as well as the county. Just like with other commodities, start buying now when it's low.