Unless you have a very good reason to believe property values will rise dramatically, ie. a new military base is being built nearby, the local school got ranked best in the area, then you would probably be better off finding something else.If you can increase rents to $700 a month, as you said is reasonable, that would help your situation out.

The factor that prevented your taxes from dramatically increasing when property values were on the rise will now keep your taxes from significantly decreasing despite declining property values.

Neighborhoods in different areas within that city can vary dramatically on prices and statistics.Think of it this way.. our country was founded by people who overtook the people already living here..Then the invaders (now we are called Americans) claimed the land and eventually called it the United States of America.Then they wrote the history books to make us believe that the 'Indians' welcomed us (after we slaughtered them) and created 'Thanksgiving'.The books were written to try and convince us to believe what the 'governing people' wanted us to believe.Although this is a strong example and many will surely hate what I posted, it's the truth and also applies to the report given in this post.

There are few dramatically under priced properties because the seller is ignorant or don't know what their property is worth regardless of how desperate they are to sell

Case in point, 302 Fairfax which has one extra bathroom (for this area, I would add at least $6k in value for it) and 160 less sq. ft. which would put a competition value on sub property as $75,724.As for solds, there appears to be only two withn the last 6 months: 539 Woodhill Cove sold at $83,900 ($61.47 per sq. ft) but is much smaller so cost per square needs to be adjusted dramatically and 965 Barclay which sold at $60,000 ($36.19 per sq.) and close enough in comparision size.

Spec building was great back in the day and will come back in a few years once the cost to build is not upside down as it is today.REO deals have been the bread and butter but have dropped off dramatically and SS's are the market majority for deals.

It followed the typical pattern of smoke and mirrors, hype, profit for a number of insiders, and then dramatic losses for everyone who hopped on the train a little too late.

Torsten, Bill: Not being able to tell what my products are complicates things a little bit, but I have said we all use these already everyday and it is a proven method of lowering water/sewage cost dramatically.

You can get there by negotiating a better purchase price, or (sometimes) raising below market rents to full market value.And yes, after 10-15 years, you will have much more equity and might be able to refinance or recast your loan with drastically reduced monthly payments, which will in turn dramatically increase your cash flow.

The art district homes you mentioned were built a few years ago, just within the last 6 months lumber prices have increased dramatically.