Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

Does anybody invest in his market and if so what is the spring and summer like?

While I do maintain a relatively modest percentage of my assets in money market instruments, corporate debt funds, and high dividend stocks, I remain most comfortable with the investments I specialize in and know best.  

Sphere of influence purchase - off market opportunity.

New builds-broke even in the '08 market on two spec homes, built my own home from the ground up twelve years ago(400k in equity). 

What markets are you looking into? 

Furthermore, @Dave Meyer has a YouTube show/podcast on market trends for your reference.

When I worked with a property management company, we had someone buy a unit (single family) that had a STR and marketed it as a STR.

I'm in the Tampa market.  

Study the market.