Why This is THE Time to Buy an Investment Property
It is no secret that the Modesto Real Estate market is once again in the recovery mode. It has yet again to become a seller’s market, but the property market has showed signs of steady improvement. This is why people are starting to wonder if investing in a Modesto Real Estate property now would be a good idea.
The answer to that is definitely ‘Yes’. Investing in real estate at this point is perhaps the smartest thing you’d ever do, especially since the market is currently at its best as compared to the last thirty years.
Real estate professionals are capable of making the case possible for buying any time. However,now is truly a good time to purchase an investment property if you are in the market. Here are fourreasons why.
- Low Interest Rates – The interest rates have never been as low. It wouldn’t be exaggeration to say that it is unlikely the market will ever see interest rates as reasonable in future as they are now.
- Values Low – As the market is bouncing back to normal, home values are still moderately low. Low home prices and low interest rates make a perfect match for the perfect buying storm.
- More Pent up Sellers and More Pent up Properties Now – There are many distressed sellers present in the market right now. A distressed seller is a person with a property theydesperately want to sell off. In reality, a lot of people may be struggling right now. Targeting such sellers is not going to be predatory; in fact you would only be helping them while helping yourself.
Another distressed aspect is a distressed property, which needs a little cosmetic work to make it marketable; for example you can consider landscaping and a little bit ofpaint to bring it up to par. Distressed properties and distressed sellers both provide a lower price and the availability of creative financing options.
- Alternative Financing is More Available than Before – Many people think it is impossible to invest now because getting a loan is more difficult than before. It is true that most banks are not too lenient with lending anymore, but that does not put an end to investment opportunities for you.
The option of seller financing is more available than ever. It is just like it sounds. In this instance the seller, who is sometimes the owner, acts as the bank and provides the finance. In many cases, it is done for no down payment. This is a better alternative for newbieinvestors because the odds of getting a bank loan are even smaller for them as compared to an experienced investor.
So now that you know why 2013 is a good year to invest, do not miss out on the best opportunities to own a Modesto Real Estate investment property.