(EMAILWIRE.COM, October 10, 2008 ) Housing is one-third of all U.S. wealth, totaling $19.4 trillion in the second quarter of 2008, according to the Federal Reserve. Home prices may continue fall nationwide, but because real estate is local, the rate of decline varies depending on your market. And in some high-demand markets, prices are still climbing, though at a slower rate. According to the Case-Shiller Index -- a survey of home prices in 20 major metropolitan areas -- prices nationwide fell 15 percent in the second quarter of 2008 compared with last year. Despite the national numbers, some regions are starting to make a comeback.

Many banks in certain locations have been conservative in their lending practices and will weather the storm. These banks will have money to loan to creditworthy borrowers for good projects. This is especially true when Banks utilize the various SBA Programs which provide them with even greater security for lending to small businesses.

The good news for many potential bed and breakfast owners is the fact that mortgage rates are at historic lows and while credit standards at most banks have tightened considerably, the borrower with a squeaky clean credit record and a high personal credit score will have no problem getting a local bank to talk to them.

In some US markets falling prices could remain the norm a while longer, opinions differ as to when the housing market will turn around. Most analysts think that we have not yet hit bottom. Some think we might be close, but one fact can't be disputed -- there is a large inventory of unsold homes out there and it means there are more potential bargains out there. Savvy real estate investors and potential bed and breakfast owners desiring to purchase real estate for the long term can take advantage of current conditions, knowing that a down market is the best time to get a good deal.

Author, and former real estate professional, Amelia Painter has helped hundreds of new bed and breakfast owners make decisions and get projects off the ground and operating. "These can be hard times for many" stated Painter, but if you think you're ready to experience the romance and luxury of owning your own bed and breakfast inn - a place you can call your home as well as your business - then my book, "Opening and Operating a Bed & Breakfast in the 21st Century," is a must read.

Chapter Two of the book covers the questions a bed and breakfast property buyer must address. (Examples include: What is the business climate of the community where you wish to establish a B&B? How will economic slow-down affect tourism locally in the future? What are the local tourism trends?)

The entire book is filled with probing questions, and many answers, that all buyers of bed and breakfast real estate must take into consideration, especially in these hard economic times.

Today's real estate market is teeming with opportunities for the potential bed and breakfast buyer. Great values and great "deals" are out there, but do yourself a favor and use B&B guidebooks like Painter's "Opening and Operating a Bed & Breakfast in the 21st Century" to help you separate the romantic notions of owning a bed and breakfast property from the business side.

Contact Information:
Amelia Painter, author
Amelia Painter
Tel: 712-260-5372
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