Is there an end in sight? Today, a government report from the Office of Federal Housing Enterprise Oversight was released that said home prices in May declined by 4.8 percent over the past year. Are we getting near the point when prices are more appetizing for real estate investors again or do we have a long way to go?

The Pacific Division, see states it encompasses below, actually showed a price increase, which was the first since March 2007.

Also, from April 08 – May 08 the Middle Atlantic and East North Central Division showed a 0.1% increase and the West North Central Division stopped losses to remain even at 0.0%.

Open up almost any real estate investing book that’s about buying raw land and you’ll be told that you should never purchase land without seeing it in person first. Buying land without doing lots of in-person tests and homework is called foolish.

This is exactly the rule I broke when I first got started in raw land investing for my real estate investing portfolio. And I made a killing.