Investors returning to Inland housing scene

Investors returning to Inland housing scene

After retreating in fear from housing’s sudden collapse, those who buy homes as an investment are reappearing in Inland Southern California’s beaten down marketplace.

Sharply discounted foreclosed properties are luring back the first wave of professional investors and amateurs, both those hoping to “flip” for a quick buck and those wanting to buy and hold for a future rebound.

Nicholas Manfredi, a professional investor, said that about five months ago lenders began lowering prices enough on houses they repossessed to entice him after a four-year hiatus, during which he lived on gains accumulated during the spectacular housing price run-up of the early 2000s.