Two deals that should have closed by Dec. 31, 2009 have still not closed. Since I am the seller, I am annoyed because I need that money. The unfortunate thing is that both deals are in the hands of the buyer's lender, so who knows when these will close now?
In the meantime, I have been keeping an eye on the market prices and I am still seeing a slight increase in prices in my market, a slight decrease in prices in the market just South of me, and a large decrease in the market just North of me. Tenants are tough to find in that market, so I'll have to pass on it despite the low prices.
TIP: Low property prices do not guarantee cash flow. If cash flow is your strategy and tenants are scarce or not available, the asset will not perform and you could lose money.
