Not all real estate markets are created equal. To be more precise, the real estate market is more like a set of scales, slowly (usually) tipping back and forth. Currently, as most of us are already aware, we are heavily weighted toward the buyer due to a number of market forces.
I recently reviewed a relative's warranty and mortgage deeds which revealed TWO assumptions of an original mortgage dated in 1958. The interest rate was 4.5%. So, in all reality, those deeds were the proof for me that we are truly at the "historic lows" that are being referred to in almost every publication or post we read where interest rates are concerned.
Many buyers are afraid to invest right now because the outlook seems so dire, but for those who have some cash and/or can procure a mortgage without incurring untoward risk or using unsound lending practices, the depressed prices combined with historically low interest rates yield an unprecedented opportunity for some, although not all. Many homes today are priced at a point that will yield a positive cash flow for rental and investment purposes. For an investor that can afford to hold a property for several years, this is a fantastic combination!
I would love to hear your thoughts too...
For more information or feedback, email Candy@CandyFerrer.com
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