Short sales in a falling market

[John Williams]

A couple Q's for you pros on here...

Here in Utah foreclosures and short sale numbers are booming, not as badly as AZ and FL but bad.

Utahs market is expected to bottom around 2011, a bit later than other parts of the nation. Prices are expected to drop 30%+

Is it possible to do SS flips in a local market like this?

If it takes 4 months to make a deal happen and prices are falling all the while is that gonna make it harder?

Thanks in advance,

John

[Will Barnard]

The right strategy depends on your abilities, goals, personality, and your local market.

You need to do what you enjoy and what you are good at. If those strategies do not fit your local market, you must go to a market that does or get more comfortable with one of those strategies that does match yoru market.

We use to spec build but do not as it makes no sense in this market today, it did back then.
We aslo did a lot of buy and hold, stopped over the last year and will most liekely continue soon.

Again, you must enjoy it, understand it and it must be viable in your market of choice.