Are you taking advantage of the great deals out there ???
I hope everyone is having a wonderful week.
I wanted to take a minute and talk about the mortgage/housing melt down from a different prespective. The positive side.
Unfortunately there has been a lot of discussion around how awful things are in the market right now and many investors have become shell shocked and a lot have either quit buying or have really thought about doing so — BUT — now is the perfect time to buy.
Right now we are seeing very low prices and a stronger rental market (all of the homeowners who lost thier homes have to have somewhere to live) along with lower interest rates. This is the perfect storm - bargains to be picked up and a larger supply of prespective tenants.
I am not saying it is a risk free time to buy - but if you are able to buy right now it is a good time. There are a few roadblocks that you need to watch out for but if you can overcome them it is a perfect time. The potential roadblocks I see are:
- Stricter traditional financing rules
- Prices may decrease further
Yes - these could be potential roadblocks, but they can be overcome. For financing you can look at other sources then the typical mortgage lender and in doing so you may find that the money is very available - ie: private lenders. On the potential for further price drops - yes this may happen and you just keep this in mind when you make your offers and make sure you buy way under value to start with.
I am hoping that this gives you some positive food for thought. This is the time to go find the bargains and hold on to them. If you haven’t already done so please take a minute to sign up for our buyers list so that you can be notified when we find a good deal we want to pass on.
Thanks and Happy Investing
Stefanie
P.S. Just to reinforce the information above - one of the realtors I help up with short sales said the other day that business is great and she is doing more business now then she did in a good year.
