Originally Posted by xuron

I am in orlando and boy... talk about idiots buying houses... here is an example.. to get a *new* house built, you can no longer go and buy one, you have to get preapproved to ENTER a LOTTERY to get a LOT. I was a lucky one and went to a lottery and one, well now we found some doctor that has a baby coming and his wife is like crazy to get this lot... so we are preparing to sell the lot (with some complex contracts) to them for like 50k...

Anyways, in the last month, median prices have already gone up over 13k... its way over 210k here in orlando for shitty houses...

What would the experts here on this forum with real estate suggest? The market here in orlando is just way to crazy here... there is bidding wars on shitty houses here that sell in less than 24 hours. I am almost thinking I should put my 2/2 townhome up for sale for like 185k when I bought in last october for 130k just to see if I can get it since people are crazy here.

So should I start putting money into REI's or just go stocks and horde up cash to buy when its a buyers market? Anyone have any good advice?

thanks