Then they won’t call back again or even tell you that you’ve been declined for the loan.

Much already posted above on risks associated with repairs and renovations.But not yet mentioned is the risk associated with declining property values.

Taxes can only be increased at 2% per year and can be adjusted downward as fast as the market can decline.4.

If the city is shedding jobs and is in a state of decline, you probably don't want to buy there since you will have a hard time holding down vacancies in the future and will have difficult time maintaining rents as things get more competitive.

I declined because I'm confident I picked an excellent location that will continue it's upward trend for decades to come.

Lots of really cheap property, but declining jobs and population.

If the property is in an area with a Market Classification 2, 3 or 4, or the appraisal indicates the property is in a declining market: The reason for the increase in values will only be allowed if significant improvements have been made or the borrower purchased the property under a distressed sale or non-arm's length/at-interest transaction and the above requirements have been met to substantiate the amount of value increase for the market.

This market decline is an investors paradise and something everyone should be excited about!!!!!

People are saying that declining home, stock, 401(k), etc values is a destruction of wealth.

You have to decide if that is good enough for you given your overall financial situation.One factor you haven't mentioned at all is the neighborhood and the potential for appreciation vs risk of a declining neighborhood.