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Tapping a Flow of Cash From the Credit Cri
are looking to buy property are equally well positioned when it comes to getting second or third mortgages.

“It’s a good time to be an opportunistic buyer,” said Mr. Kauffman of Northern Trust. “I believe that applies to whether it’s a unique real estate opportunity, a third home or land. There are fewer strong buyers out there.”

Ruth Trettis, a broker at Premier Properties in Naples who has watched the market for 30 years, agreed. “When the market was really on fire, we would have multiple offers on properties,” she said, adding that right now the adage about location being paramount is more relevant than ever. “We had a home in the beach block come on the market recently for around $4 million, and it sold very quickly.”

Mr. Timmerman said he expected that the market would stabilize in the first quarter of 2009 as election-cycle uncertainty waned, and that prices would start to rise by the end of 2009.

There are plenty who have done nothing with their homes and have

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