NOW is the perfect time to consider an investment in real estate! That’s what the recently released National Association of Realtors (NAR) Profile of Buyers and Sellers suggests.
As the market recovers and home prices gradually begin to rise, opportunities to take advantage of the current–and unprecedented–buyer’s market will become limited. Prior to the economic downturn, only 11 to 12 per cent of homebuyers owned two or more homes; today, nearly 20 per cent own more than one home.
There are two primary reasons for this increase. Some homebuyers are once again seeing real estate as a promising and affordable investment opportunity. In addition to increasing the value of their portfolios, investors often have the cash required to buy and refurbish vacant homes that may not qualify for a standard mortgage because of their deteriorated condition.
Refurbishing these homes is also making decent homes available to the many families that have been displaced as a result of a foreclosure or short sale. Such investments not only make a significant contribution toward the clearance of bank owned (or REO) and/or government owned (HUD homes, for example) real estate inventory, they also help rebuild entire communities.
Reinvigorating the housing market also alerts buyers to the fact that now is a great time to invest in home ownership. It’s an especially opportune time for people to purchase the vacation or second home they’ve always wanted. As the population continues to grow and shift, demand for housing will increase, as will the cost. Whether you see real estate as a valuable addition to your portfolio, or you simply want to buy your first, second (or even third home!), there’s never been a better time to invest in your future.
Thank you Scribe Communications for compiling my research!
LPK Realty Group LLC 
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