Locating Distressed Sellers

Gary North

Spring is almost here. That means houses will be coming on the market.

All over the country, the inventory of unsold houses is growing. Would-be sellers don't sense this yet. When they do, it will produce pain. Then fear. Then panic.

Now is the time to begin a serious weekend search for 3 bedroom, 2-bath homes in neighborhoods where young families want to live.

It's not time to buy. It's time to begin to get a sense of the market. As summer progresses, panic will begin to set in. "We've got to move! Soon!"

Then winter. Next winter will be highly motivating.

You should prepare for buying in 2007. As John Schaub says, "You make your profit when you buy."

I know: This seems too early. It isn't. It's never too early to begin searching for that most profitable of all opportunities: the distressed seller.

It won't hurt to practice your buying techniques before you are ready to buy. And if you actually succeed before 2007, and grab a super bargain, that's good, too. Look at three houses today.

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