The Real Deal Miami

Deals available in a down market

March 25, 2009 07:40PM

In this market, you can find real estate deals, according to CNBC’s Carmen Wong Ulrich and Pat Lashinsky, CEO of Zip Realty. Lashinsky said it’s important to buy for the long-term with no expectation of flipping a property. Buyers should be wary of neighborhoods where there are a significant number of foreclosures. They can figure out the likely number of foreclosures in a neighborhood based on how recently homes in the area sold. Foreclosures are more likely in
areas where homes have sold within the last several years.