reo propertiesREO properties (bank owned) are plentiful in most housing markets right now, and they are good values. If you are thinking about investing in a home, whether it's a primary or secondary home, consider REO properties if you have the financial resources to swing it. This might be the bottom of the market right now, at least let's hope so. The bailout package is starting to work in the banking world, and as more companies can borrow money, the better the economy will get. Once we get back on our feet, REO properties will be snatched up as investments, and prices will start to rise.

Detroit is a city with many REO properties. According to the MLS (Multiple Listing Service), there are hundreds of properties for sale for very little money-less than $1,000. Most of these homes need fixing, and some need to be approved by the city for occupancy, but there are bargains out there. If you want to invest in your real estate portfolio, check out Detroit. Jobs will come back once the auto industry works through its many issues, and spending $1,000 on a home and then a few thousand more to make it inhabitable is chump change that could be the start of a way for you to make some good money down the road.