If you are serious about investing in houses I would speak to a local realtor. Find one that has a good reputation and who is honest. They can give you an idea of your market, and whether there are indicators that the bottom is near. You can also speak to a local appraiser, again one that has a good reputation, to give you a feel of the local market. You may have to pay them a little but thier information may save you alot in the long run. You can also find some good information on your local board of realtors website, you have to temper that because they are trying to sell houses. Hope this information helps.
If you want a passive investment I am looking for partners in my real estate deals. I buy and am looking to hold properties, If you prefer to make a guaranteed return I pay 12%.
Jturnerhb@msn.com.