Which area of depressed real estate in the USA offers the greatest investment chance for speculators?

SportSavant · Apr 27, 2010

In a way this is a gambling thread, as betting on real estate has proven to be as risky as betting on sports

I would love to see some actual listings.

aceduecetrey · Apr 27, 2010

I could not envision anything being better than SW Florida right now. A friend of mine closed on a condo 3 years ago for 990k and now it aprraised out at 189k

shdw01 · Apr 27, 2010

aceduecetrey said:
I could not envision anything being better than SW Florida right now. A friend of mine closed on a condo 3 years ago for 990k and now it aprraised out at 189k

WOW!

that is all i can say

Doug · Apr 27, 2010

You could probably buy the city of Detroit for $100.

Mr.Jones · Apr 27, 2010

Hernando County, Florida [about 45 miles north of Tampa]

I would have been thrilled last year to get 30% of the 2006 appraised value of a place I still own down there.

Off the market now. Kind of hanging on to it now 'cause I think its only got one way to go.

aceduecetrey · Apr 27, 2010

shdw01 said:
WOW!

that is all i can say

Just an example of the crazy market that is SWFL..... I bought a house in 2004 for 574k, got in trouble and sold it 4 months later for 580k. The house sold 1.5 years later for 1.4 million and then again in 2008 for 600k and now I just saw it go for 215k last week.

That is lovely Cape Coral

Doug · Apr 27, 2010

Vegas may have bottomed out ?

Less well off retirees should look there.

cheap housing, warm weather, cheap food, entertainment, casinos, etc.

I'd rather be there than the NE, if I was like 70+.