Why You Should Invest In Real Estate Now
People across San Diego are renting apartments, houses, and condos.
In doing so, they’re literally tossing their dollars out the car
window. If you can realize that real estate is now and will forever
be a long term investment, investing now is definitely the best
decision. ESPECIALLY NOW.
Interest rates are lower than they have been in decades and housing
prices have also dropped. Never before have we seen such opportunity
when it comes to investing in real estate. Even people with less
than flawless credit can find a mortgage with a competitive rate in
the market today. Lenders are tripping over themselves to make
attractive offers to potential customers.
Foreclosures have reached an all time high all through the nation.
States such a California, Florida and Nevada have been hit the
hardest. Upscale homes are in foreclosure like never before. Years
ago, you only saw foreclosures in blighted areas. Today, you see
them all over the place.
New construction is suffering to a point where housing starts are at
an all time low. The market is very gloomy for sellers, real estate
agents, lenders and developers. The market is absolutely great,
however, for buyers. This is your market. You can not only take your
pick when it comes to housing choices, but also when it comes to
home loans. There truly has never been a better time than now to
invest in real estate.
Though you may think of your house as your home, additionally, you
should also think of it as an investment. If you are renting a house
or apartment, you are not investing. You are paying rent to someone
else who is investing. They are using your rent to pay off their
mortgage and making money off of you. In addition, you are not even
allowed the tax incentive for home owners. Any interest that you pay
on your mortgage can be deducted from your income tax. So can your
property taxes. This can make a substantial difference in your
Now is the time to invest in real estate. Take advantage of the fact
that there are not many buyers on the market and a lot of sellers.
Also take advantage of the fact that the interest rates are so low
that lenders are dying to make you a loan. Even if you have a past
bankruptcy you can still get a mortgage in the market today. There
is money out there for everyone, you just have to look.
Make sure that you shop around prior to buying your home. Location
is everything when it comes to real estate. You are better off to
have a shoebox condo in a nice area than a spacious home in a
blighted area. The shoebox will appreciate in value, the spacious
house may actually go down in price. Take a look at the areas where
the school districts are much sought after if you are wondering
whether the area is a good area or not.
If you are scared to invest in real estate, stop being scared and
paying a mortgage for someone else. Start gaining from the low
interest rates and purchase property for yourself. Eventually, the
property will appreciate in value giving you a place to live as well
as a long term investment.
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