This was near the bottom of the housing market in metro Detroit, at the worst of the recession.

If you are going to compete in this price range, new bathrooms, new kitchen, recessed lighting, staging are a must.

I know people that have done it in several midwestern states, Illinois, Indiana, Tennessee, but then a couple people in Atlanta when the market was lower here, it's already gotten back to pre-recession prices here unfortunately. 

If China is an a full blown recession, I would imagine the FCB purchases would slow down in the Valley.Couldn't it go the other way where you are networth is actually depreciating $500,000/year on paper if you own $10M worth real estate in SV?

Beginning of 2007 should be close to the peak of the market before the recession.

Hello BP family, I am looking to make an offer on the following property:Condominium 2 bedrooms2 bath1,204 sq ft patio with storage, near pool, wood floors, washer/dryer, fridge includedseller wants $1,850 per month and wants to sell for $335,000I checked the comps using Zillow and it looks like a comparable unit that is a 2/2 that has all upgrades and is asking 313k, the owner said this unit just sold for 310kall the upgrades: dark wood floors throughout, granite counters, stainless steel appliances, recessed lighting, pedestal lighting, upgraded trim, counter back splash, new cabinets and fixtures, floating shelves and a new HVAC unit.Whereas the unit I want to make an offer on has none of these things, but does have a larger square footage (1,204 sf compared to 952 sf).

Background (short & sweet):I started investing in February 2004 with two single family rentals and moved into developing, but got burned by contractors and the economy during the economic recession.

Macro economy seems to be best since recession,  wondering if investors stats,( cash buys, financing stats, or type of property demands) could help formulate a 5 year plan for anyone new to REI?

There are many other asset classes that can also generate income that will give you greater stability over the long term.I would recommend that you consider putting 10% into consumer loans (such as the lendingclub), which historically have held up well in recessions and yielding about 7% now.

In one case, they actually increased in value during a recession.