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If you have a passion for real estate market investing, then you have more than likely loved 2012. Throughout much of the year you have probably been able to purchase properties with amazing potential well below market value.
Why, exactly, were you able to find these steeply discounted homes throughout much of the country? Simple: Foreclosures.
Over the last few years the housing market has been full of foreclosure properties. As a result, home prices have fallen significantly providing exceptional deals on everything from distressed properties to new homes and home construction projects. However, many investors have stayed away from the real estate market due to uncertainty of the market?s future.
Now, however, investors are very much taking an interest in real estate as home prices have started to rise indicating that?real estate market recovery is underway. With that being said, investors who are just now looking for incredible deals may realize that they are now harder to find.
Decrease of Foreclosure Inventory
Several months ago and any investor looking to purchase foreclosures or other distressed properties would have a plethora of opportunities. Today, however,?foreclosure discounts?are harder to find with many popular cities even experiencing bidding wars. So not only are the foreclosure discounts harder to find, but once you find them you will more than likely be competing with others who are looking for great investment opportunities?just like you.
So, if you are looking for a quick and easy way to find foreclosure deals that are currently on the market, then a foreclosure listing service is your best bet?allowing you to search specifically for homes in the areas you are interested in and that meet your criteria (number of bedrooms, acres, etc.).
In short, if you are looking for discounted investment properties then start your search today?since these great deals are quickly leaving the market.
Rising Home Prices
In the future, investors can expect to start paying more for investment properties as the inventory of homes for sale declines and foreclosures leave the market. Over the last year, home prices rose nationally by an average of 3.6%, Some cities, such as Phoenix, Detroit, Las Vegas, San Jose, and San Francisco, saw home prices increase by 10% or more over the last year.
Although some cities posted a decline of home prices annually, most areas reported rising home prices, an increase in demand, and a decrease in supply (number of homes for sale).
Taken together, investors that are looking to obtain great deals on foreclosures or other investment properties should act now?home prices are rising and inventories are falling indicating that recovery is definitely on the way and great real estate deals will not always be around.
Source: http://www.wannanetwork.com/2012/11/29/attention-investors-homes-for-sale-are-quickly-dwindling/
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