Everyday the phone rings and I get the question, "Do you have any great investment property for under $100,000? I'm an investor from California."
OK, first things first. Experience tells me that I'm not the first one they've called and probably won't be the last, since I or the first Realtor they talked to didn't tell them what they wanted to hear. Here's a news flash. They are not an investor... yet. They've simply been up too late one night watching paid programming and the effect of sleep deprivation brain-washed them into believing that they CAN buy mansions for less than $100,000 or better yet, using someone else's money and resell them for quadruple the amount in profit! 
If you have never invested before or have less than three investment properties, be upfront with me about it. What is more important than the price of the property is the current value, the cost of improvements and the cost of selling the property, the value of the home after improvements, and how it will affect your taxes. If you have never heard of the term "ten-thirtyone", you're in trouble. Not only should you tell me that you've never invested and are interested in it but you should also speak to your accountant and your lawyer about the pro's & con's of investment properties and/or "flips".
The media has forgotten how powerful they truly are. During media sweeps week, you'll find many struggling stations dramatize headlines that hit home --- literally! As a result, a powerful story in the news about a Real Estate "bubble" bursting puts immediate fear in the minds of the general population sending off a domino effect of real danger. What the public does not understand is that not all markets are the same nor are they all affected the same way.
South Texas has been very lucky. Our conservative nature has made the local buyer thoroughly research the property, personal spending power and due to the general mis-trust of credit, locals tend to buy in cash making the homebuying population down here either with little to no credit worthiness or simply a cash buyer. So why am I saying all this? To let you know that the foreclosure rate as a general population down here is minimal compared to the rest of the nation.
So if you think you can get away with making offers tens of thousands of dollars below asking price because you think this is a floreclosed buyers market, you're wrong. The Realtors down here have educated sellers very well and have priced properties accordingly. The prices down here are phenomenol already. If you are interested in buying a property, rest assured you will walk away with a great deal and don't believe all those who tell you they walked away with a "steal". Go with your gut. If it's too good to be true, then it probably is. With the financing that those same story tellers had in place, the ARMS or ZERO down, those are probably the ones next on the foreclosure chopping block.
Real Estate can be such a complicated and intimidating ordeal. No question is a stupid question. Not asking the question to someone who really knows her business and pretending you know something that you really don't... we'll, that's a bit stupid.
For more information on properties in the Rio Grande Valley, Texas, call (956) 802-0217 or visit www.SoldbyMyssie.com