We’d just finished dinner with a couple who’ve decided to buy a house in Merida, where my wife Suzan and I live, and move here permanently.

“Healthcare and insurance costs alone are killing us. Add property tax, and it’s too much… especially when you consider that the value of our house in the States is falling fast.”

Suzan and I have been hearing this a lot from Americans wondering where they can go to retire in style.

Real estate prices in the U.S. are becoming more attractive thanks to the huge dose of reality injected into the market by the mortgage bubble burst. But people still keep shopping in Mexico, Ecuador, Uruguay, Brazil… throughout Latin America. Throughout the world.

“It doesn’t make any difference that you can now get a great deal on a place in the States,” a friend recently said. “You still can’t afford to live in it. And you sure won’t make any money on it in the near future if you try to sell it.” Not a great option for a retiree on a fixed income.

Outside the States, we’ve seen real estate prices in almost every market appreciating 10, 20, 30, even 50 percent a year for the past decade. I expect that to stop. After all, crashing markets, rising unemployment, inflation… these things won’t be limited to the U.S.

It’s a big world, and most things in it are relative. Even if the global cost of living rises 50 percent in the next few years, there will still be places on the globe where the cost of living is 50 percent less than in the States.

And with no real help in sight for rising taxes and healthcare and insurance costs in the U.S. (does anyone really believe the insurance and medical lobbies will allow universal healthcare?), smart folks will think about where to retire, do the math, and move to where the money they’ve managed to keep for themselves will go the furthest.

And that, I believe, will help support property prices in the places they want to escape to… places like Mexico, Ecuador, Uruguay, and Brazil.

Not that Suzan and I plan to flip our place in Merida any time soon. We’re having way too much fun here… not the least of which is having dinner with new friends. But I don’t see the value of our property slipping 30 percent in a year, which is what we’ve seen in markets like Florida and California lately.

I expect the value of our properties abroad to stay steady, especially as the global economy gets worse. We live and have invested in places that make sense from a cost of living, climate, and convenience point of view. And as more and more people realize that they have options for where to retire (other than just sitting where they are and watching their money drain away), I expect we’ll have many more dinners with new friends shopping for a better life in Merida and other prime locations around the world.

This article appears courtesy of Early To Rise, a free newsletter dedicated to making money, improving health and secrets to success. For a complimentary subscription, visit http://www.earlytorise.com.

The rest of the country (and world, it seems) has realized that Detroit has incredibly cheap real estate, and plenty of it. Investors – some from as far as away as the U.K. – are buying up lots of houses (for as little as $10,000) to fix up and rent out.

While it might be tempting to buy an investment property for only $10,000, there are at least three reasons to be cautious:

• In comparison to other parts of the country, real estate taxes in depressed areas are high and could get worse. A shrinking population means a smaller tax base, so everyone left has to cough up more money.

• Take your rehab bill and double it. Not because of cost overruns but because your upgrades will walk out the door at night. Theft is a major problem.

• Don’t count on getting government-assisted renters. The easy days of the government sending you the rent check are long gone. According to a friend of mine who has a few rental properties in Detroit, the number of landlords looking for Section 8 renters far outstrips the supply.

With that being said, I believe investing in Detroit is worth considering… as long as you do your homework first. Where else can you buy a house for less than a new car and generate cash flow every month?

[Ed. Note: Whether you're interested in real estate, the stock market, or other investment opportunities, you can get Christian Hill's take in Investor's Daily Edge, Early to Rise's sister publication. Sign up for free right here.

Buying and renting out real estate is just one investment you can profit from in 2009. This June, 9 financial experts will show you exactly how you can make a fortune in today's market. Find out how you can get their top recommendations for making 2009 the best year ever for your portfolio right here.]

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This article appears courtesy of Early To Rise, a free newsletter dedicated to making money, improving health and secrets to success. For a complimentary subscription, visit http://www.earlytorise.com.

Banks don’t want to be in the real estate business, so sometimes they’ll accept much less than you might think to get the darn things off their books – especially in markets having lots of trouble. But buying such properties has drawbacks.

Here’s what you need to know.

1. Use the Web

Websites can help you find foreclosed homes. On Redfin.com, you can do a free search for so-called real estate owned (REO) properties – those for which the bank holds the deed – in Baltimore, Boston, Los Angeles, San Diego, San Francisco, Seattle and Washington, D.C. (and soon, Chicago).

Or you can locate them nationwide on Foreclosures.com or RealtyTrac.com for a subscription fee of $49.95 a month.

2. Use a broker

Forget buying directly from the bank (lenders typically deal only with pros) or at auction (you may wind up bidding more than you should).Work with brokers; banks use them to sell most homes. Once you’ve identified which properties are REO, you’ll know those are the ones for which a low-ball offer is more likely to be accepted.

3. Watch out for repair costs.

Look for houses that have been on the market for more than 90 days and offer. Bank-owned houses typically need a lot of work: People facing foreclosure often neglect maintenance and may have swiped fixtures and appliances on their way out.

Never buy an REO property without an inspection, and be sure to factor repair and remodeling work into your offering price. According to a recent survey by Remodeling Online, replacing a bathroom alone costs nearly $16,000, on average.

To view entire article go to CNN/Money

Think Outside the Norm

If you sold a house during the real estate boom that occurred a few years back you probably had 20 offers that same day it was listed. In those times FSBO (For Sale By Owner) was an everyday thing. These days you’re lucky to have an offer the first week your house is placed on the market.

So if you’re going to put your house on the market, you have to start thinking outside the box, and begin thinking of ways to grab the buyer’s attention. Selling a house is about first impressions, and if you can WOW the prospective buyers the minute they pull up, your agent may be back in the driver’s seat. One effective and relatively inexpensive way to achieve this is have beautiful landscaping outside of the house. It probably will not get you more money for your house, but it would definitely attract attention.

Throw the Buyer a Bone

These days you might have to sweeten the deal and give buyers incentives to buy your house from you. For example you might offer the prospective buyers a 50′ flat screen TV, or home media computer system if they purchase the house within 60 days. Either way be creative and make the buyers think twice before they leave your house. Methods like this work because bottom line people love deals. Note… you can basically add a few hundred or thousand dollars to the offer price to offset the cost of the incentives you’re giving.

Mark the Price Down

Any agent will tell you the fastest way to sell a house is to lower the price, which is usually correct. But the most effective way to do this is to mark it down from the start. If you want to get the most looks in the neighborhood, offer your house at 5-10% lower than the average housing prices in your area. I can guarantee you will get a substantial amount of visits the first week your house is on the market. Also this might be the cheapest route for you if you’re already living in a new house. Just the mortgage payments and upkeep of the house while the house is sitting for a few months will be substantial to your bottom line.