Recent article at the Wall Street Journal – “Finally, It Is Time to Buy a House” – reminded of what Warren Buffett said – “Be fearful when others are greedy, be greedy when others are fearful.”
Why now is an especially good time to by a house as investment.
Financially qualified people have feared the housing market about buying recently – even with amazingly good purchase money mortgage rates.
Housing prices in the U.S. rose sharply from April to May 2012 – while foreclosures slowed and inventories of homes for sale were down.
When supply of distressed property slows, economics show that buyers will be forced into higher-price properties.
Housing starts at the US were up in June 2012, and home building company stock prices are going up.
Rents of homes in the US continue to go up and are now at a ten year high.
If you can buy a house and rent it out, especially if you have twenty percent down payment and equity, rent received would hopefully cover the cost of financing and property taxes.
Top five reasons that in this economy climate buying a house can be a good long-term investment:
Financing is amazingly cheap.
Home selling prices have been driven down.
Rents are up.
Number of distressed homes for sale is low.
Pent-up housing demand is high
So now could be a great time for you to be “greedy” and get going as a house buyer and real estate investor.
Contact us here about listing and sale of property at Dover Shores Newport Beach – and Orange County CA homes and real estate. ~ Professional REALTOR® agent representation and help for property owners, private trust estate representatives, estate administrators, executors and heirs, probate and trust attorneys, estate planners, income tax professionals, public guardians, fiduciaries, investor group managers, bankers, and individuals, with listing and sale of properties at Orange County, CA.