I don't think any of these homes had AC or heat (definitely not central), so that's another aspect I'd have to contemplate.

I am in a similar boat and have been contemplating reaching out to an 'advisor'.

The question I am contemplating is my next steps.

I am contemplating paying cash for my first property, to lighten the stress of ownership while learning the ropes.

I'm also contemplating hiring a local turnkey operator to try and pull off a couple of foreclosure flips.

I've been contemplating doing this for a while, and finally decided it's time.

However, if the "financial crisis" lingers for an extended period, those same areas may start to see flattening of values, and even a reversal.For the average homeowner, I would expect that many families that were contemplating purchases have seen their down payments and net worth drop a bit this past week and may well decide to sit on the fence until the dust settles.  

San Francisco is out, LA is out, Santa Monica is out, Santa Barbara is out, places in Oregon, Autin, Tx is in the news contemplating restrictions on short term rentals, Ocean City, Maryland, NYC, etc etc etc.

I am contemplating a real estate decision.

I'VE CONTEMPLATING  REALESTATE INVESTING FOR ABOUT SIX MONTHS NOW .