If you’re feeling
terrified about the current real
estate market, take heart in the
fact that you’re not alone. Most
Americans are a little sheepish
about taking the homeownership
plunge. Even with the election
behind us, we’re still a ways away
from a stabilized economy.
However, this may
very well be the time that you take
a good long look at the real estate
market and check your fears at the
The fact is, there
are more homes on the market now
than in recent years. And not only
that, the prices have gone way way
down…as high as 25% in some areas.
This is great news for home buyers.
And don’t forget that
while mortgages are a little more
challenging to get than in the
free-wheeling home buying days, the
rates are still incredibly low.
Some banks are offering fixed rate
loans at less than 6%. This is
Many wise investors
will tell you that when others begin
to flee from a certain market,
that’s the time to get involved.
With so many people spooked by the
real estate market, today’s buyers
have more power than ever before.
You can really drive a hard bargain
and get way more house than you
could have in recent years.
And we haven’t even
touched on foreclosures and reo’s
yet. Sadly many people are losing
their homes. It’s a terrible
situation made worse by a
challenging economy. But remember
you didn’t do anything to cause the
homeowner to suffer financial
difficulty, so you shouldn’t feel
guilty about writing an offer on a
foreclosure or reo. Take advantage
of this opportunity before it passes
For those readers who
are looking more for an investment
than a place to live, consider the
many benefits of buying rental
property in this market. For
starters, financing isn’t as easy to
get as it once was. That fact alone
is creating a significantly larger
rental market. This is also coupled
with a financial downturn, so fewer
people are buying and more are
renting. So rental prices are
beginning to creep up.
This is great for the
savvy investor…lower buying prices,
and higher rental rates can equal a
great investment. And don’t forget
the tax write-offs that you get from
expenses, depreciation and interest.
So maybe it’s time to
swallow your fear and take a brave
look at the current real estate
market. You’ll be glad you did.
And all of us at
RealEstate-SantaMonica.com will be
happy to help you.