The current market conditions make real estate a very good investment for a number of reasons, however these conditions are rapidly changing. Prices are starting to stabilize and even rise slightly in some markets, and rates are starting to creep upwards recently.
Why buy?
1. Lower prices = more affordability.
2. Better mortgage rates = lower payments. We’re seeing rates as low as 4.5% and under from some lenders lately, and financing is available - there are even still financing programs that require very little or no money down for first time home buyers, as well as financing programs that will help you to rehab a property that needs some work.
3. Tax advantages. Real estate interest is still deductible.
4. Plenty of inventory. There are a lot of properties to choose from in all price ranges, and good quality homes are coming on the market all the time.
5. Appreciation. Real estate always appreciates over time. As long as you take care of your home properly, value will rise over the long term.
6. Equity. Each time you make a payment on real estate that you own, you are building equity for yourself, rather than for your landlord.
7. Control. Owning your own property means that you decide - what improvements to make, who gets to live there, “the rules” and when it’s time to sell and purchase something else.
Buying real estate might not be the answer for everyone, but if you have a reliable source of income and fairly good credit, it might well be a very good answer for you or someone you know.
Talk to me and let’s figure out what might work for you. Who knows, maybe we can find a good multi-unit together and YOU can become the landlord, profiting off of your tenants’ rent payments!Nothing feels better than a home of your own. I’ll find you a wonderful home… a place you’ll love!
- Mike
http://www.michaelmullett.com/
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