I think that as we approach the fall you will see a drop in prices as reality sets in.

Generally speaking, home pricing on a national basis has done more flattening then falling.

With all due respect, if you have been financing for 14 years you would realize that you have just advised someone to commit FRAUD.The silent second needs to be subordinated and transparent to the 1st lien holder or it's FRAUD.

I don't know the other varibles in your equation i.e. appreciation rate, age of the home, any other deferred maintenance, overall characteristics of the neighborhood, rent comparibles, ect...But my gut feeling is that with the recent fall out of the sub-prime market, this is the best time to purchase rentable properties.

Hi,

Today’s current rate for FHA 30 Year Fixed is 6.250% (APR 6.256%). Payment per $1000 (including the low monthly mortgage insurance) is $6.58.
The open mortgage insurance is 1.5% of the loan amount and is finan...

Our vacancy rate seems to be falling, but rents are not going up.

Vacancies are falling for the last few years.If I assume expenese are really $37,800, assume 80% 30 year first, 10% interest only second, I get debt service of $3566/mo vs.

Closing costs about $17.5K) If you get 10% appreciation and the house is worth $266K, then the $9K paydown isn't very significant.Consider, though, and falling or flat prices are, IMHO, a very real possibility over the next few years.

Now, I have found my inside guy, he just happened to fall into my palm..

I found this site a week ago and have already falling in love.