Many investors are taking advantage of the home foreclosures in anticipation of a market that traditionally recovers and moves upward.
Personally, I think that investing in land at this time is a wise move. Many pieces of land are now at reduced prices, in foreclosure, or bank owned. Building a new custom home on a piece of property is worth investigating if you have always wanted your dream home. Shop around with various custom home builders and you might be surprised at the affordability.
When you buy a foreclosed property, or even a resale, you will probably want to do some remodeling to make it your own.Once the work is done you may or may not have the house of your dreams.
A custom dream home or a remodel? Something to think about.
Links:
[1] http://www.goldcountryhomes.com/print/5223#comment-4
[2] http://www.goldcountryhomes.com/users/gjgardner
The term makes me smile being that I am a happy granny. It was only recently that I learned about the opportunity in Placer County for those who own a good size piece of land. Two houses on a lot would take you to the building department for negotiations; however, you are allowed to build a second structure up to 1200 feet on your lot with no problem.
With building prices at the low end, this could be a great investment for increasing the value of your property. My personal opinion is that Granny would love the idea (maybe even help fund the project).
Many Granny's are on the go these days and not ready to settle down, but the opportunity is there for you if it makes good cents (or dollars).