Of course the listing agent has forewarned that my offer was low - he's never seen banks accept anything less than $10K below asking price but "you never know- cash may talk".

Looking for some feed back on this proposed scenario below.

When its below that, I accumulate the money for the inevitable vacancy or big expense.

My area sales price is about average compared to most of the city, but my own house is really entry level (way below the average price of $214K :roll:) In my zip code, there were 207 Active listings in August, and 30 of those sold.

The redemptions caused the shares to fall below the $1 mark.

Rent to property value ratio is still little below avg I think and house price is declining but slow for the area I'm looking at.

Then, call around to dirt/gravel suppliers and get quotes for that volume, and delivery.If it does have a concrete liner, you'll have to bust that up.

My idea is to offer them at 40-50% below market value so there is a good deal for an investor, since these times are difficult.

see bio below: Rick is a real estate developer and investor in larger real estate projects mostly in the southeastern US.

I got the information below from my real estate broker today.