[Olly]

Originally Posted by oregon woodsmoke

Off plan, or as we call it in the USA "pre-construction", is a dead horse. The folks who got in too late have lost a lot of money.

I suggest that you look at properties that are already finished and are being sold by individuals.

This is a very good time to buy in the USA. Prices are low, interest rates are extremely low (I don't know what foreigners have to pay for mortgages, but I can get money at 5.3% right now).

As for prices still falling, no investor pays asking price. Find a seller who is worried and who will accept a low offer. If you buy right now at below markert prices, the market can fall and you will still be covered.

Not to mention, once the bottom is reached, then prices start back up again. They don't just lanquish at the bottom of the market.

In my town (Bend, Oregon) sales have picked up and many properties have already sold this spring, and more people are coming in, intending to buy. I have a vacant rental right now and 90% of my callers want to rent for less than 6 months because they are planning to buy this spring. Bad for me because I can't get my house rented, but good for me because if real estate starts selling again, prices will start back up.

In the USA, right now, buy in areas where there are good jobs and the local residents have the money to pay rent. Or else buy in recreational areas where the baby boomers want to retire. Those are not the cheapest places to buy, but that is where you are going to find good value for your money, and the safest investments.

Florida, right on the beach, is a retirement and recreational area, but they are having serious problems with insurance and property taxes. Property taxes are enormous and insurance is nearly impossible to obtain. If you are thinking of Florida, do all your homework and gather all the facts.

There are beach towns in Georgia and Atlanta Georgia itself have areas that look decent.

South Carolina has areas where investing is good.

On the east coast, I wouldn't go too far from the south on the coast, or some of the New England states high up on the north east. Anything in the middle doesn't appeal to me.

In fact, nothing on the east coast is all that appealing. The west coast is certainly a healthier place to invest your real estate money.

Nice try Oregon Woodsmoke...

American's are masters at believing their own precdictions and, please I don't say this to cause offence. The stats across all the areas you mention just don't match either your observations nor predictions. And, neither do the top economists forecasts. Sales are very unlikely to pick up this Summer in Bend nor most other places across the US - sadly!!!

Current forecasts for Bend are a decline of circa 8% with as much as 11%+ in other parts of the State. You also mention California as a brilliant place to invest. Again, this State is experiencing its worst-ever drop in house values in part damaged by being one of the top three States which suffered from mortgage fraud over the past two years. That's along with Florida & Georgia with Atlanta itself at the peak in this State.

Unfortunately for you and anyone contemplating gaining reasonable rents is also going to be a big problem for certainly the next two years. All except the STR (short-term rental) market where at least they can benefit from increased tourist traffic.

Sorry Oregon; it's certainly too early to invest in the USA and will be for at least 2008 and probably till Spring 2009 when, with good fortune, the real bargains 'might' surface.

Other 'hotspots' already on the horizon and many en route investigating the possibilities are Albania (Europe) & Nicaragua (C.America) whereas Costa Rica is close to peaking for investors but not the retiree or vacation buyer.

Here's hoping a better investment climate and rental return, returns to the good ol' USA sooner rather than later.

Best of investing everyone...

Olly